• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, July 14, 2026
  • 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
in General News

Proposal to Wean Public Tertiary Institutions Off Public Payroll Must Be Dropped Completely- Dr Apaak

Maynard Championby Maynard Champion
March 28, 2022
Reading Time: 4 mins read
Member of Parliament for Bulisa South, Dr Clement Apaak.

Member of Parliament for Bulisa South, Dr Clement Apaak.

Deputy Ranking Member on Education Committee of Parliament, Dr Clement Apaak, has called on government to drop its proposal to wean public tertiary institutions off its public payroll.

Contained in a Facebook post made on March 28, 2022, Dr Apaak explained that as part of measures to address the “self-inflicted economic crisis” the country is facing under the Akufo-Addo government, the “beleaguered” Minister for Finance, Ken Ofori-Atta, with the support of the President have proposed to wean public tertiary institutions off public payroll.

He revealed that what government’s decision implies is that it intends to no longer shoulder the cost of paying lecturers and staff of these tertiary institutions. As a consequent, Dr Apaak indicated that tertiary institutions would have to raise their own revenue to pay for the human resources required to function as institutions of higher learning.

“However, it is our position that the proposal to wean public tertiary institutions off public payroll be dropped completely, because it will invariably restrict access to tertiary education and will prevent the poor and marginalised from accessing tertiary education when implemented”.

Dr Clement Apaak

His statement followed the Finance Minister’s measures of weaning off public tertiary institutions from government payroll and provide them with a fixed amount, a “block grant” instead.

ADVERTISEMENT

Commenting on this, the Bulisa South legislator expressed that for tertiary institutions under prevailing circumstances to raise the needed resources to pay teaching and non-teaching staff, it will likely require passing a chunk of the bill to students, resulting in higher school fees. Dr Apaak intimated that higher fees will be to the detriment of poor students who are even struggling to pay the current fees.

President Akufo-Addo has called on feuding factions in the Bawku chieftaincy dispute to ceasefire with regards to the seething tension and resort to dialogue. He revealed that monies spent on security in the area could be used to develop Bawku.
President Akufo-Addo.

“When public tertiary institutions become fee-paying, then obviously, government is directly introducing a financial barrier to the already existing infrastructural barrier. In any case, why would government increase access by making secondary education free and propose to restrict access by essentially making the cost of obtaining tertiary education by beneficiaries of free secondary education exorbitant?”

Dr Clement Apaak

This proposal, Dr Apaak explained, if implemented, would negate any gains that the free SHS intended to achieve. He questioned whether there is lack of appreciation of the whole policy intervention at the secondary level, particularly for a government that believes that parents cannot afford to pay school fees for their wards at the senior high level.

“In an interesting note only last year, President Akufo-Addo in his attendance made a point in his speech at the Global Education Summit held at the UK, that government was considering free tertiary education. The turnaround by Finance Minister Ken Ofori-Atta makes the exact policy direction of this government on education a wonder.”

Dr Clement Apaak

Public tertiary institutions, Dr Apaak noted, aside their assured quality, are intended to provide an even platform for all, including the poor to access higher education leading to the contribution of their quota to the development of the country. It is in this light, he revealed, government must rethink any measures that are intended to prevent the poor from having access to educational opportunities at the tertiary level.

Impact of weaning public universities of government payroll

Meanwhile, the African Foundation for Educational Development (AFFED), has revealed that the decision of government to wean public universities off its payroll will potentially have dire consequences.

The foundation noted that the move will be detrimental to the running of tertiary institutions in the country. It indicated that the tertiary net enrolment rate remains low and stood at 17 percent as of 2016. Contained in a statement signed by its President Ernest Adade, it intimated that currently it has not made any “significant improvement” as the net enrolment stands at 18 percent.

ADVERTISEMENT

AFFED underscored that the wean-off will certainly stagnate and in a worst sense reduce the tertiary intake. Following this, it explained that tertiary education would be cost involving, hence neglecting equitable access.

READ ALSO: Skyrocketing Food Prices Choke Ghanaians

ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: finance ministerParliamentpayrollpublic tertiary institutions
ShareTweetShareSendSend
Please login to join discussion
Previous Post

Calls Being Made to Strip Will Smith off Oscar Title

Next Post

Frontier Healthcare Has No Established Infrastructure At Airport- Mintah Akandoh

Related Posts

Basic School Children   in Ghana receiving instructions from their teacher
General News

One in Three Districts in Ghana Faces Severe Teacher Shortages, Report

July 14, 2026
Foster Buabeng (CEO/Fund Administrator)
General News

Teachers’ Fund Directs Members to Verify Names Across Official Records

July 14, 2026
Honourable Nana Agyei Baffour Awuah
General News

Tribunal Bill Not Practicable, Expensive And Could Delay Hearings— Awuah

July 14, 2026
Deputy Director General of GES in charge of Management Services Professor Smile Gavua Dzisi
General News

GES Rollout Practical Entrepreneurship Programme for SHS Students

July 13, 2026
ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

ADVERTISEMENT

Recent News

Group Photo

EPIC Africa Project Pushes Sustainable Volta Basin Management

July 14, 2026
World Health Organization

WHO Launches Research Agenda on Climate, Migration and Health

July 14, 2026
Seal of United States Central Command.svg

US Strikes Iran Again Amid Hormuz Strait Standoff

July 14, 2026
Basic School Children   in Ghana receiving instructions from their teacher

One in Three Districts in Ghana Faces Severe Teacher Shortages, Report

July 14, 2026
CalBank Profit Soars 25% to GHS353.6 Million in Strong First Half Performance CalBank PLC has delivered an impressive financial performance for the first half of 2026, posting a remarkable 25 percent increase in Profit Before Tax (PBT) to GHS353.6 million. The outstanding results highlight the bank's successful strategic transformation and underline its growing strength as one of Ghana's leading financial institutions. The latest figures show that Profit Before Tax climbed from GHS283.2 million in the corresponding period of 2025 to GHS353.6 million, driven by robust growth across the bank's core business operations. The performance reflects improvements in lending, customer deposits, fee based services, trading income, and overall operational efficiency. Unlike previous periods where earnings were significantly supported by impairment recoveries, CalBank's latest results demonstrate that its profitability is now being powered largely by the strength of its underlying banking business. Core Banking Business Drives Exceptional Earnings One of the biggest highlights of the first half performance was the remarkable growth in net interest income, which surged by 83 percent to GHS347.5 million. The increase came despite a relatively lower interest rate environment. Interest income rose from GHS399 million to GHS451.5 million as the bank continued expanding its earning assets. At the same time, funding costs fell sharply, with interest expenses dropping from GHS209 million to GHS104 million. This significant reduction in funding costs improved the bank's profitability and demonstrated stronger balance sheet management. CalBank also recorded exceptional growth from non interest income sources as it continued diversifying its revenue streams. Net fees, commissions, and trading income almost doubled, rising by 99 percent to GHS323.3 million from GHS162.7 million during the same period last year. The strong performance reflects increased customer activity across the bank's retail, commercial, and corporate banking segments. The diversified earnings profile places CalBank in a stronger position to withstand changing market conditions while maintaining sustainable profitability. Stronger Earnings Quality Boosts Investor Confidence Perhaps the most significant aspect of CalBank's results is the improved quality of its earnings. During the first half of 2025, impairment recoveries contributed approximately GHS154 million to profits. However, in the latest reporting period, impairment gains accounted for only GHS7 million. This means the overwhelming majority of profits were generated through normal banking operations rather than one off recoveries. The shift highlights the success of management's transformation strategy and provides greater confidence that future earnings will remain sustainable. Industry analysts often view recurring operating income as a stronger indicator of long term financial health than exceptional gains. Assets and Deposits Record Strong Expansion CalBank also recorded significant growth in its balance sheet during the period. Total assets expanded by 30 percent to GHS13.9 billion from GHS10.7 billion recorded at the end of June 2025. Customer deposits increased by the same margin, rising to GHS10.9 billion. The growth in deposits reflects increasing customer confidence in the bank's brand, improved service delivery, and expanding retail and commercial banking operations. Higher deposits also provide the bank with a stable funding base to support future lending and business expansion. The figures reinforce CalBank's growing position within Ghana's competitive banking industry. Bad Loans Decline Dramatically One of the most remarkable achievements during the first half of the year was the dramatic improvement in asset quality. The bank's Non Performing Loan ratio dropped sharply to 10.10 percent from an exceptionally high 51.60 percent recorded at the end of June 2025. The improvement reflects the successful execution of CalBank's balance sheet remediation programme and disciplined credit risk management practices. A healthier loan portfolio reduces future credit losses while creating additional room for prudent loan growth. The significant decline in bad loans also strengthens investor confidence and enhances the bank's overall financial stability. Capital Position Strengthens After Recapitalisation Following its successful recapitalisation in 2025, CalBank has continued strengthening its financial foundation. Its Capital Adequacy Ratio improved dramatically to 18.17 percent from a negative 7.6 percent recorded a year earlier. The turnaround highlights the success of the bank's recapitalisation efforts and demonstrates its renewed financial resilience. Strong liquidity levels further position the bank to support customers, finance new business opportunities, and meet future regulatory requirements with confidence. The improved capital position also creates greater flexibility for expansion while protecting shareholders against unexpected financial shocks. Management Confident of Even Better Results Commenting on the results, Managing Director Carl Selasi Asem described the first half performance as clear evidence that CalBank's transformation strategy is producing sustainable financial outcomes. He said the bank had achieved strong growth across its core businesses while improving funding efficiency, strengthening profitability, enhancing asset quality, reinforcing its capital base, and expanding its balance sheet. Mr. Asem stressed that the latest earnings were driven by the strength of the bank's underlying operations rather than one time recoveries, reinforcing the quality and sustainability of the results. Looking ahead, he expressed confidence that the momentum built during the first half would enable CalBank to deliver an even stronger performance during the remainder of 2026. Management says the bank remains committed to disciplined execution of its strategic priorities, strengthening customer relationships, maintaining prudent risk management, and creating sustainable long term value for shareholders. CalBank's Transformation Continues to Deliver CalBank's latest financial performance paints the picture of a bank that has successfully rebuilt its foundations and is entering a new phase of sustainable growth. With rising profits, stronger capital, expanding customer deposits, healthier assets, and significantly lower bad loans, the bank appears well positioned to compete aggressively within Ghana's banking sector. As economic conditions continue to improve, CalBank's focus on operational excellence and disciplined execution could make 2026 one of the strongest years in the institution's recent history. READ ALSO: GSE Opens Week with Explosive Trading Activity CalBank Profit Soars 25% to GHS353.6 Million in Strong First Half Performance

CalBank Profit Soars 25% to GHS353.6 Million in Strong First Half Performance

July 14, 2026
ADVERTISEMENT
Next Post
Member of Parliament for Juaboso Constituency and a Ranking Member on the Health Committee of Parliament, Kwabena Mintah Akandoh

Frontier Healthcare Has No Established Infrastructure At Airport- Mintah Akandoh

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.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.