Public Interest Accountability Committee

Returns on GPFs

Returns on the Ghana Petroleum Funds, 2012-2018

Ghana Stabilisation Fund

 

2012

2013

2014

2015

2016 2017 2018

 

US$

US$

US$

US$

US$ US$ US$

Opening Book Value

54,810,032.00

71,898,588.00

319,034,153.00

286,644,044.00

177,396,127 207,748,663 353,052,037.36

Receipts during the year

16,883,548.00

245,733,702.00

271,762,755.15

15,171,061.96

29,512,625 142,683,920 305,723,402.02

Income from Investments

214,049.00

1,413,341.00

1,549,380.24

538,214.78

845,150 2,625,276 6,409,693.09

Bank Charges

(9,041.00)

(11,477.00)

(17,555.77)

(6,396.65)

(5,238) (5,822) (9,048.10)

Sub Total

71,898,588.00

319,034,153.00

592,328,732.62

302,346,924.09

207,748,663 353,052,037 381,203,181.15

Less Transfers to:

 

 

 

 

     

Contingency Fund

0.00

0.00

(17,433,143.89)

(23,755,072.85)

0.00 - -

Debt Service Account for Debt Repayment

0.00

0.00

(288,251,544.51)

0.00

0.00 - -

Annual Budget Funding Amount(ABFA)

0.00

0.00

0.00

(53,685,578.98)

0.00 - -

Sinking Fund

0.00

0.00

0.00

(47,510,145.69)

0.00 - -

Closing Book

71,898,588.00

319,034,153.00

286,644,044.22

177,396,126.57

207,748,663 353,052,037 381,203,181.15

Investment Income

214,049.00

1,413,341.00

1,549,380.24

538,214.78

845,150 2,625,276 6,409,693.09

less:

 

 

 

 

     

Bank Charges

-

(11,477.00)

(17,555.77)

(6,396.65)

(5,238) (5,822) (10,249.18)

Net return for the Period

214,049.00

1,401,864.00

1,531,824.47

531,818.13

839,912 2,619,454 6,400,644.99

GHANA HERITAGE FUND

     

 

2012

2013

2014

2015

2016 2017 2018

 

US$

US$

US$

US$

US$ US$ US$

Opening book Value

14,401,216.00

21,694,221.00

128,125,942.39

248,915,220.00

259,383,473 2,619,454 344,792,661.86

Receipts during the year

7,235,806.00

105,314,444.00

116,469,752.21

6,501,883.70

12,648,268 61,150,251 131,024,315.15

Income from Investments

60,209.00

1,126,764.00

4,331,660.17

3,981,866.59

4,948,908 6,701,744 9,380,765.28

Bank Charges

(3,010.00)

(9,486.00)

(12,135.11)

(15,497.45)

(18,357) (21,625) (25,306.25)

Closing book Value

21,694,221.00

128,125,943.00

248,915,219.66

259,383,472.84

276,962,292 344,792,662 485,172,436.04

Investment Income

60,209.00

1,126,764.00

4,331,660.17

3,981,866.59

4,948,908 6,701,744 9,380,765.28

Less:

 

 

 

 

     

Bank Charges

0.00

(9,486.00)

(12,135.11)

(15,497.45)

(18,357) (21,625) (25,306.25)

Net return for the Period

60,209.00

1,117,278.00

4,319,525.06

3,966,369.14

4,930,551 6,680,119 9,355,459.03

COMBINED FUNDS

     

 

2012

2013

2014

2015

2016 2017 2018

Opening book Value

69,211,248.00

93,592,809.00

447,160,095.39

535,559,264.00

436,779,600 484,710,955  

Receipts during the year

24,119,354.00

351,048,145.00

388,232,507.36

21,672,945.66

42,160,892 203,834,171  

Income from Investments

274,258.00

2,540,105.00

5,881,040.41

4,520,081.37

5,794,058 9,327,021  

Bank Charges

(12,051.00)

(20,963.00)

(29,690.88)

(21,894.10)

(23,595) (27,447)  

Sub Total

93,592,809.00

447,160,096.00

841,243,952.28

561,730,396.93

484,710,955 697,844,700  

Less Transfer to:

 

 

 

 

     

Contingency Fund

0.00

0.00             

(17,433,143.89)

(23,755,072.85)

0.00 -  

Debt Service Account for Debt Repayment

0.00

0.00

(288,251,544.51)

0.00

0.00 -  

Annual Budget Funding Amount(ABFA)

0.00

0.00

0.00

(53,685,578.98

0.00 -  

Sinking Fund

0.00

0.00

0.00

(47,510,145.69)

0.00 -  

Closing Book Value

93,592,809.00

447,160,096.00

535,559,263.88

436,779,599.41

484,710,955 697,844,700  

Investment Income

274,258.00

2,540,105.00

5,881,040.41

4,520,081.37

5,794,058 9,327,020.65  

less

 

 

 

 

     

Bank Charges

(12,051.00)

(20,963.00)

(29,690.88)

(21,894.10)

(23,595) (27,447.42)  

Net return for the Period

262,207.00

2,519,142.00

5,851,349.53

4,498,187.27

5,770,463 9,299,573.23  

Source: Bank of Ghana

By the end of 2016, the total amount standing to the credit of the Ghana Petroleum Funds (GPFs) was US$484.71 million. The Ghana Heritage Fund (GHF) had US$276.96 million by the end of 2016, compared to US$259.38 million in 2015, while the Ghana Stabilisation Fund (GSF) had US$207.74 million, compared to US$177.40 million in 2015.