• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, October 2, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

PAC Commends GIFEC for Its Strong Operational and Financial Position

Stephen M.Cby Stephen M.C
February 10, 2023
Reading Time: 3 mins read
Stephen M.Cby Stephen M.C
in Vaultz Business
0
ICT Capacity Building

During PAC Meeting

Mr Isaac Yaw Opoku, a Member of the Public Accounts Committee (PAC), has commended the Ghana Investment Fund for Electronic Communications (GIFEC) for its strong operational and financial position.

Mr Opoku, a member of Parliament for Offinso South Constituency, made the commendation when he led the review of GIFEC’s statement of operations and financial position in Accra.  He observed that GIFEC posted an impressive 7.2 per cent increase in surplus of income over expenditure, compared to the previous year, significantly improving its liquidity, as a result.

“GIFEC’s financial position is very good. Non-current assets increased by 14.5 per cent, and current assets by 20.1 per cent. Their liquidity position is very strong and (has) even improved over the previous year. In fact, they did well and needed to be commended.”

Mr Isaac Yaw Opoku

Mr. Prince Ofosu Sefah, Administrator of GIFEC, highlighted the progress of the Ghana Rural Telephony and Digital Inclusion Project (GRT&DIP), GIFEC’s flagship project saying “it was unprecedented in nature, as began in late 2020”.

RelatedPosts

Africa’s $6 Trillion Trade Opportunity: GEPA Rallies Nations to Unlock Intra-Continental Power

$4.8 Billion SME Financing Gap in Ghana Tackled with Over 200 New Machines Through AfNEXT

Ghana’s Port Container Traffic Hits Record-Breaking 1.7m TEUs

The Administrator of GIFEC mentioned that 473 out of the 1,008 (50 per cent of the planned 2,016 Rural Mobile Sites being deployed by the Project) are completed and are active and delivering voice and data services to citizens.

Mr. Prince Ofosu Sefah assured the Committee that plans are far advanced and efforts are being expedited to resolve all technical difficulties being encountered, to ensure that the remaining sites were all built and activated this year. He said the equipment for the construction of the remaining 50 per cent of the 2,016 sites is already in the country, awaiting funding for deployment, which is expected to take place soon.

Implementation of Projects

The GRT&DIP forms part of GIFEC’s flagship Rural Telephony Programme, which is funded by the Government of Ghana (GoG), through a strategic agreement with Huawei and China National Technical Import & Export Corporation (CNTIC), funded by the China EXIM Bank to establish 2,016 Rural Telephony Sites in as many communities across the country, envisioned to provide mobile network coverage to about 3.4 million more citizens.

GIFEC supervises the implementation of this Project, working with Technical Partners, on behalf of the Government of Ghana, represented by the Ministry of Communications and Digitalisation (MoCD). This unprecedented Project has been spearheaded by the Honourable Minister for Communications and Digitalisation, who also chairs the Board of Trustees of GIFEC, positions she has held since 2017.

The Administrator (CEO), moreover, iterated that 200 ICT labs will be established this year, as part of its Cyberlabs Programme. He showed that equipment will soon be deployed to the new CICs for their operationalisation, and reiterated the need to establish Municipal/District multi-stakeholder Management Committees to manage and maintain the ICT centres, to continue to benefit the people of the community.

Mr. Prince Ofosu Sefah also mentioned that some of the CICs will facilitate the training of over 10,000 citizens this year, as part of GIFEC’s ICT Capacity Building and Skills Development Programme. He admonished the communities to develop a solid maintenance culture, supported by a similarly improving culture at GIFEC, to ensure the people continue to benefit from these resources for a longer time.

READ ALSO: $6.3million “planetGold Project” Launched For Mercury Minimization in Mining

Tags: Exim BankGIFECGRT&DIPICT Capacity BuildingPAC
Please login to join discussion
Previous Post

$6.3million “planetGold Project” Launched For Mercury Minimization in Mining

Next Post

Inclusion of Pensioners In Debt Exchange Not A Lawful Solution, We Are Not Your Last Resort- Sophia Akuffo To Gov’t

[mc4wp_form id="1264"]

Related Posts

Iran-Israel Tensions Could Trigger Fuel Price Hikes – IES Warns 
Extractives/Energy

Ghana’s Petroleum Supply Sees Regional Shifts with Uneven Growth 

October 2, 2025
IMANI Blames Electoral Commission for Breakdown in Ablekuma North
General News

Franklin Cudjoe Challenges Government on DSTV and Galamsey

October 2, 2025
Global Sumud Flotilla Enters  “High-risk Zone”
Asia

Global Sumud Flotilla Meets Fate Of Its Predecessors

October 2, 2025
Nigeria’s Debt Repayments Dominate Foreign Spending In 2025
Africa

Nigeria’s Debt Repayments Dominate Foreign Spending In 2025

October 2, 2025
Franklin Cudjoe, Founding President of IMANI Centre for Policy and Education
Economy

Ghana’s Economic Gains: IMANI Warns Against Complacency, Demands Sustained Reforms

October 2, 2025
Grammy Academy Approves Shatta Wale’s ‘Street Crown’ for Consideration
Entertainment

Grammy Academy Approves Shatta Wale’s ‘Street Crown’ for Consideration

October 2, 2025
Iran-Israel Tensions Could Trigger Fuel Price Hikes – IES Warns 
Extractives/Energy

Ghana’s Petroleum Supply Sees Regional Shifts with Uneven Growth 

by Prince AgyapongOctober 2, 2025
IMANI Blames Electoral Commission for Breakdown in Ablekuma North
General News

Franklin Cudjoe Challenges Government on DSTV and Galamsey

by Silas Kafui AssemOctober 2, 2025
Global Sumud Flotilla Enters  “High-risk Zone”
Asia

Global Sumud Flotilla Meets Fate Of Its Predecessors

by Comfort AmpomaaOctober 2, 2025
Nigeria’s Debt Repayments Dominate Foreign Spending In 2025
Africa

Nigeria’s Debt Repayments Dominate Foreign Spending In 2025

by Lawrence AnkutseOctober 2, 2025
Franklin Cudjoe, Founding President of IMANI Centre for Policy and Education
Economy

Ghana’s Economic Gains: IMANI Warns Against Complacency, Demands Sustained Reforms

by Evans Junior OwuOctober 2, 2025
Grammy Academy Approves Shatta Wale’s ‘Street Crown’ for Consideration
Entertainment

Grammy Academy Approves Shatta Wale’s ‘Street Crown’ for Consideration

by Esther Korantemaa OffeiOctober 2, 2025
Iran-Israel Tensions Could Trigger Fuel Price Hikes – IES Warns 
IMANI Blames Electoral Commission for Breakdown in Ablekuma North
Global Sumud Flotilla Enters  “High-risk Zone”
Nigeria’s Debt Repayments Dominate Foreign Spending In 2025
Franklin Cudjoe, Founding President of IMANI Centre for Policy and Education
Grammy Academy Approves Shatta Wale’s ‘Street Crown’ for Consideration
[/vc_row_inner]

Recent News

  • Ghana’s Petroleum Supply Sees Regional Shifts with Uneven Growth 
  • Franklin Cudjoe Challenges Government on DSTV and Galamsey
  • Global Sumud Flotilla Meets Fate Of Its Predecessors
  • Nigeria’s Debt Repayments Dominate Foreign Spending In 2025
  • Ghana’s Economic Gains: IMANI Warns Against Complacency, Demands Sustained Reforms
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.