Home » Public-Private Partnerships Urged to Fund Tertiary Education

Public-Private Partnerships Urged to Fund Tertiary Education

by Victor Adetimilehin

Education News

In today’s rapidly evolving educational landscape, Prof. Abednego Feehi Okoe Amartey, the Vice-Chancellor of the University of Professional Studies (UPSA) in Accra, is urging the establishment of comprehensive public-private partnerships to secure sustainable funding for public universities in Ghana. He believes this action is vital to complement the existing 12% funding allocation from the Ghana Education Trust Fund (GETFund).

The over-reliance on GETFund has become a limitation for public universities, as the increasing number of students in these institutions highlights the need for alternative funding sources to overcome delays and budgetary constraints.

This call to action unfolded during the third policy dialogue on optimizing the Ghana GETFund, held at the Ghana Academy of Arts and Sciences (GAAS) in Accra. The event brought together stakeholders from public and private universities, Parliament, businesses, the higher education sector, and civil society organizations. The dialogue served as a platform to delve into the financial challenges confronting higher education in Ghana.

The discussion also encompassed an assessment of GETFund’s performance in supporting higher education institutions over the past two decades. This provided an opportunity for a critical examination of the fund’s efficiency, achievements, and areas requiring improvement.

This policy dialogue is a pivotal element of the GAAS project, “Motivating Higher Education Reforms in Ghana – Towards Equity and Sustainability.” This initiative, spanning from 2022 to 2024, aims to accumulate evidence, share critical information, facilitate consensus-building, and contribute to policy formulation in the higher education sector. Notably, the project receives funding from the Carnegie Corporation of New York, underlining a strong commitment to advancing education in Ghana.

Prof. Amartey further suggests a fundamental shift in the funding template. Such a change would prioritize tertiary-level education over the pre-tertiary sector, enhancing the impact of GETFund. Key to this endeavor is the development of an entrepreneurial mindset at all levels within the fund’s administration. Encouraging public-private partnerships is also pivotal to secure increased support from the private sector.

Regarding statutory capping and realignment of the GETFund under Act 947 of 2017, Prof. Amartey calls on the government to review the act. This revision is essential for empowering the institution to provide the necessary infrastructure for tertiary schools.

It is important to note that the current allocation of 2.5% of the Value Added Tax (VAT) to the GETFund is perceived as inadequate by Prof. Amartey. As such, he proposes that this allocation be reviewed and increased to better serve the needs of tertiary education.

These initiatives aim to create a more robust and sustainable future for higher education in Ghana, ensuring that the nation’s students have access to quality education and opportunities for growth and development.

Source:[Daily Graphic]

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