The Government of Ghana, acting through the Ghana Educational Trust Fund (GETFund), is sponsoring the issuance of a GHS 5.5 billion bond to provide funding for the construction and completion of educational infrastructure (such as basic schools, vocational and training centres, etc.) across the country (the “Project”) and also for the settlement of some key outstanding liabilities for ongoing projects. This will be on the back of a portion of GETFund receivables as enacted by the Ghana Education Trust Fund Act, 2000 (Act 581).
Pursuant to the above, Daakye Trust PLC was formed as an SPV to issue the bonds, which will be listed on the Ghana Fixed Income Market (GFIM) on the Ghana Stock Exchange (GSE). The proceeds from the bonds will, to the extent possible, be used to fund the Project and settle outstanding obligations.