The Ghanaian Journal

The Teachers Fund of the Ghana National Association of Teachers (GNAT) has increased from GH¢ 3.55 million in 2002 to GH¢ 31.1 million as at December 2007.

This is as a result of the prudent investment policies and portfolio of the Fund by its managers, the New World Investments.

Mrs. Rosalyn Darkwa, the Fund Administrator, said this at the 10th Anniversary celebration of the Fund in Tamale on Thursday.

The anniversary is being marked by clean-up exercises and public lectures throughout the country and in Tamale it coincided with the inauguration of the Teachers’ Fund/Credit Mall for the Northern Zone, comprising the Northern, Upper East and Upper West regions.

The Teachers’ Fund was established to serve as a retirement supplement scheme for teachers, provide lifestyle enhancing facilities to its contributors, access to consumer credit facilities from Credit Mall Limited and to engage in real estate investments.

Mrs. Darkwa said from 1999 to 2007 a total amount of GH¢ 31.18 million had been disbursed under the personal loan fund with over 107,000 members benefiting.

Mrs. Darkwa said the fund had started the construction of a students’ hostel at the University of Ghana campus and this will be a 1000-bed facility and is expected to be completed by August.

The Fund is also developing an eight-storey building on the Independence Avenue to be completed in December.

Mrs. Darkwa said plans were underway to decentralise the operations of the Fund for purposes of enhancing easy access to it by its contributors and to ensure prompt delivery of services.

Mrs. Christian Asigri, Regional Chairperson of GNAT, urged teachers to take advantage of the Fund to create wealth for themselves and also enhance their contributions to supplement their Social Security and National Insurance Trust (SSNIT) pension scheme.
GNA