Stakeholders who gathered at the National Forum on TVET Financing organised by the Foundation for Security and Development in Africa (FOSDA) in collaboration with Citi FM and the National Network of Youth Groups, have urged government to adopt a TVET financing policy that will ensure sustainable financing of Ghana’s TVET reformation agenda.
The Deputy Minister of Education responsible for TVET, Gifty Twum Ampofo, speaking at the event, announced that the Government of Ghana has invested $1 billion in the TVET sector in Ghana since 2017 with the support of development partners such as GIZ, China, DANIDA, EU, KFW among others.
The Deputy Minister disclosed some of the projects that have been undertaken since 2017 saying they included refurbishment of the 34 NVTI schools, ongoing construction of 32 state-of-the-art technical schools, upgrading 17 technical and vocation institutes, construction of 3 foundries and machinery centres among others.
The Director-General of the Commission for TVET, Dr. Fred Asamoah also revealed that Government has made an initial deposit of $60 million into the new Skills Development Fund (SDF).
He called on industry to support the TVET sector stating that ‘Government cannot do it alone and reiterated that industry is critical for the reformation of the TVET sector.
Key stakeholders at the event, including representatives of GIZ, Plan Ghana, Technical and Vocational schools’ students and teachers, Tax Experts and CSOs in the TVET space concluded that in addition to all Government is currently doing, it is crucial to establish a TVET Financing policy to propel TVET financing from the Micro to the Macro level that will eventually transform the sector. Such a policy will also address issues of corporate financing, administration, among others.
In a panel discussion moderated by Bernard Avle, the panellists were unanimous on the support industry and private sector can provide the TVET sector, especially through their Corporate Social Responsibility (CSR).
The Communication Service Tax (CST); Petroleum Revenues and leakages, as revealed in the Auditor General’s Report also came up as major sources of consideration for the financing of TVET.
The forum also acknowledged a direct relation between TVET, entrepreneurship and youth employment and urged government to pay strong attention to the TVET sector to address the acute youth unemployment situation in Ghana.
The forum was organised on the theme “Promoting Sustainable TVET Financing in Ghana for Youth Employment and National Development” with support from OXFAM in Ghana.