While lack of expertise continue to hinder Ghanaian companies from exploring opportunities in the oil and gas sector, government splashed a whopping GH\u00a2317 million (GH\u00a2317,109,617) on capacity-building between 2011 and 2016.<\/p>\n
Despite this colossal amount, Ghana continues to grapple with skilled technical labour – giving room for expatriates to snap lucrative jobs in the sector.<\/p>\n
Capacity-building is one of the four priority areas that benefit from the yearly allocation of oil revenues, which are to be directed at initiatives to enhance the skills of Ghanaians to be able to manage the oil and gas sector.<\/p>\n
However, after more than seven years of oil exploitation, it is difficult, if not impossible, to mention how these allocations have helped sharpen the skills of Ghanaians to take advantage of technical employment opportunities in the sector.<\/p>\n
It is estimated that out of the GH\u00a2317 million allocation made for capacity-building, about 70% was used to fund various social interventions in the education sector while part was given as support to state-controlled financial institutions.<\/p>\n
The little part of the money that went into capacity was also used to mostly sponsor Ghanaians to travel outside for Masters programmes in oil and gas.<\/p>\n
Sadly, most of the beneficiaries return to Ghana only to remain jobless because the industry is not in need of their services since they did more of academic work.<\/p>\n
Institutions such as Venture Capital Trust Fund (VCTF) Microfinance and Small Loans Centre (MASLOC), National Youth Employment Programme (NYEP), National Disaster Management Organisation (NADMO), National Youth Authority (NYA)which have been rocked by corruption scandals have all received substantial amounts of the capacity-building money.<\/p>\n
2011 – GH\u00a2750,000allocated for capacity building<\/strong> 2012-GH\u00a2111.6m allocated for capacity building<\/strong> GH\u00a235m for MASLOC(2012)<\/strong> Even though this money has not been returned to state purse, MASLOC is broke as monies disbursed to people have not been paid back.<\/p>\n Over GH\u00a2100 million being loans given to beneficiaries have still not been recovered by Microfinance and Small Loans Centre (MASLOC).<\/p>\n GH\u00a215.9m for NYEP(2012)<\/strong> GH\u00a210m for NADMO(2012)<\/strong> GH\u00a211.9m to purchase of goods and services for MoFA (2012)<\/strong> GH\u00a210m for ICT training for persons with disability(2012)<\/strong> GH\u00a28.1m for LEAP(2012)<\/strong> GH\u00a25m for Venture Capital Trust Fund (2012)<\/strong> GH\u00a24m for skills training in road maintenance (2012)<\/strong> GH\u00a25.3m for Ghana Living Standards Survey (2012)<\/strong> GH\u00a22m for MUISGA (2012)<\/strong> GH\u00a22m for Exim Guarantee Company (2012)<\/strong> GH\u00a21.7m for Lands Ministry (2012)<\/strong> GH\u00a2445,300 for NYA (2012)<\/strong> 2013 – GH\u00a220.1m<\/strong> GH\u00a210m for Venture Capital Trust Fund (2013)<\/strong> An alleged corrupt scandal at the VCTFhas caused the Bureau of National Investigation (BNI) to open investigations.<\/p>\n According to the Daily Guide newspaper, the Development Assistance Fund (DAF) and the Special Purpose Vehicle (SPV) created under the VCTF to give funding access to Small and Medium Scale Enterprises (SMEs) were allegedly used as an avenue to steal state funds.<\/p>\n Currently, only about 7% of a whopping GH\u00a218.26 million invested by the government between 2010 and 2015 has been recovered and GH\u00a232 million is still outstanding.<\/p>\n GH\u00a22m for Exim Guarantee Fund (2013)<\/strong> GH\u00a28.1m for Petroleum Commission (2013)<\/strong> 2015 – GH\u00a2101.4m allocated for capacity-building<\/strong> GH\u00a234.5m for SHS subsidy(2015)<\/strong> GH\u00a223.5m for School feeding(2015)<\/strong> GH\u00a216.6m for capitation grant(2015)<\/strong> GH\u00a215.5 for BECE (2015)<\/strong> GH\u00a24.5m for SHS, Primary school capacity-building(2015)<\/strong> GH\u00a23.8m for school uniforms (2015)<\/strong> GH\u00a22.2m for HR Audit (2015)<\/strong> GH\u00a2556, 655 for stationery (2015)<\/strong> 2016 – GH\u00a283m allocated for capacity building<\/strong> –<\/p>\n Source: The Finder<\/p>\n","protected":false},"excerpt":{"rendered":" While lack of expertise continue to hinder Ghanaian companies from exploring opportunities in the oil and gas sector, government splashed a whopping GH\u00a2317 million (GH\u00a2317,109,617) on capacity-building between 2011 and 2016. Despite this colossal amount, Ghana continues to grapple with skilled technical labour – giving room for expatriates to snap lucrative jobs in the sector. […]<\/p>\n","protected":false},"author":14,"featured_media":356986,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,11],"tags":[11384,3,434],"yoast_head":"\n
\nIn 2011, government allocated GH\u00a2750,000 which was used to build laboratories at Kwame Nkrumah University of Science and Technology to train students studying petrochemical engineering.<\/p>\n
\nFor 2012, over GH\u00a2111.6million (GH\u00a2111,656,738) was allocated for capacity-building.<\/p>\n
\nThe Microfinance and Small Loans Centre (MASLOC) received GH\u00a235million of the capacity-building money to give out as loans.<\/p>\n
\nThe National Youth Employment Programme (NYEP) was given GH\u00a215.9million(GH\u00a215,907,952).<\/p>\n
\nAn amount of GH\u00a210million was provided to the National Disaster Management Organisation (NADMO)to purchase relief items.<\/p>\n
\nThe Ministry of Food and Agriculture (MoFA) was allocated GH\u00a211.9million (GH\u00a211,984,020) for the purchase of goods and services.<\/p>\n
\nAn amount of GH\u00a210million was earmarked for the training of 5,000 persons with disability in Information Communication Technology ((ICT).<\/p>\n
\nThe Livelihood Empowerment Against Poverty (LEAP) received GH\u00a28.1million to disburse to beneficiaries.<\/p>\n
\nA total of GH\u00a25million was given to financial support to Venture Capital Trust Fund.<\/p>\n
\nThe government also gave GH\u00a24million (GH\u00a24,092,048) for skills training in road maintenance.<\/p>\n
\nAn amount of GH\u00a25.3million (GH\u00a25,373,418) was used to fund Ghana Living Standards Survey.<\/p>\n
\nThe Musician Union of Ghana (MUISGA) received GH\u00a22million as support to the creative industry.<\/p>\n
\nExim Guarantee Company Ghana Limited rebranded into Exim Bank received GH\u00a22million as recapitalisation.<\/p>\n
\nThe Ministry of Lands and Natural Resources was given GH\u00a21.7million (GH\u00a21,790,000).<\/p>\n
\nThe National Youth Authority (NYA) also received GH\u00a2445,300.<\/p>\n
\nIn the year 2013, government allocatedGH\u00a220.1million (GH\u00a220,183,359) for capacity-building.<\/p>\n
\nThe Venture Capital Trust Fund (VCTF) again received GH\u00a210million as financial support.<\/p>\n
\nExim Guarantee Fund was also allocated GH\u00a22million in 2013.<\/p>\n
\nThe Petroleum Commission received GH\u00a28.1million (GH\u00a28,183,359) to support its operations.<\/p>\n
\nFor the year 2015, an amount of GH\u00a2101.4million (GH\u00a2101,482,290)was disbursed for capacity-building.<\/p>\n
\nOut of this amount, GH\u00a234.5million (GH\u00a234,557,175) was allocated for the payment of Senior High School (SHS) subsidy and implementation of progressively Free SHS.<\/p>\n
\nAlso, GH\u00a223.5million (GH\u00a223,531,764) was used to pay for school feeding.<\/p>\n
\nIn addition, government also used GH\u00a216.6million (GH\u00a216,647,366) to pay for capitation grant.<\/p>\n
\nAn amount ofGH\u00a215.5million (GH\u00a215,543,500) was also used as subsidy for Basic Education Certificate Examination (BECE).<\/p>\n
\nAn amount of GH\u00a24.5million (GH\u00a24,510,904) went into the payments to improve capacity at Primary and Secondary Schools.<\/p>\n
\nPayment for the supply of school uniforms in four regions accounted for GH\u00a23.8million (GH\u00a23,898,647).<\/p>\n
\nGovernment also allocated GH\u00a22.2million (GH\u00a22,236,276) as the payment for Human Resources audit activities.<\/p>\n
\nAn amount of GH\u00a2556,655 went into the printing and transportation of stationery to seven regions.<\/p>\n
\nLast year [2016], an amount of GH\u00a283million(GH\u00a283,037,284), which was set aside for capacity-building, was given to the Ghana Education Trust Fund (GETFund).<\/p>\n