The funds are placed in centralized accounts in Fidelity Bank Ghana and Ecobank Ghana and are administered by the fund managers, Stanlib Ghana a subsidiary of Stanbic Bank Ghana.
The fund will be used for the following purposes:
The funds will not go to the government directly, but will help support the government in its drive against the COVID-19 pandemic in any way possible
This fund has been set up by private citizens of the country and is intended as a way to for us to help support the government, both directly and indirectly by supporting institutions and helping those in our society who are most in need.
In the first week of the Funds inception, donations were used to deliver over 50,000 meals to the less fortunate in our society who have been most affected by this lockdown.
Currently, there is no way to earmark gifts for specific uses, as there are a wide range of areas of support and all funds need to be concentrated to tackle as issues as effectively as possible.
The fund has extensive oversight by a number of individuals and organizations which offer checks and balances to each other to facilitate the efficient running of the fund. The oversight of the fund is structured as follows:
Their roles of the oversight team are as follows:
The trustees shall exercise overall responsibility for the FUND and the realization of its objects. It shall operate as the Governing Board of the fund and periodically (quarterly recommended) account to all donors of the FUND. The 10-first funders shall be the Trustees of the FUND.
The Fund Manager shall
The Custodian shall
The Fund Auditor shall:
The TC shall serve as the primary interface with the Government of Ghana and health institutions. It shall present and assess funding requests for consideration by the fund manager and the Trustees.
The committee shall comprise:
The protocols shall be designed by the Fund Manager under the guidance of the auditor and subjected to the approval of Trustees.
Protocols shall however include an evaluation of disbursement requests by the Technical Committee to ensure relevance, prioritization and value for money.