Public Interest Accountability Committee

Returns on GPFs

Returns on the Ghana Petroleum Funds, 2012-2017

Ghana Stabilisation Fund    

 

2012

2013

2014

2015

2016 2017

 

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

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

Income from Investments

214,049.00

1,413,341.00

1,549,380.24

538,214.78

845,150 2,625,276

Bank Charges

(9,041.00)

(11,477.00)

(17,555.77)

(6,396.65)

(5,238) (5,822)

Sub Total

71,898,588.00

319,034,153.00

592,328,732.62

302,346,924.09

207,748,663 353,052,037

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

Investment Income

214,049.00

1,413,341.00

1,549,380.24

538,214.78

845,150 2,625,276

less:

 

 

 

 

   

Bank Charges

-

(11,477.00)

(17,555.77)

(6,396.65)

(5,238) (5,822)

Net return for the Period

214,049.00

1,401,864.00

1,531,824.47

531,818.13

839,912 2,619,454

GHANA HERITAGE FUND

   

 

2012

2013

2014

2015

2016 2017

 

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

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

Income from Investments

60,209.00

1,126,764.00

4,331,660.17

3,981,866.59

4,948,908 6,701,744

Bank Charges

(3,010.00)

(9,486.00)

(12,135.11)

(15,497.45)

(18,357) (21,625)

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

Investment Income

60,209.00

1,126,764.00

4,331,660.17

3,981,866.59

4,948,908 6,701,744

Less:

 

 

 

 

   

Bank Charges

0.00

(9,486.00)

(12,135.11)

(15,497.45)

(18,357) (21,625)

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

COMBINED FUNDS

   

 

2012

2013

2014

2015

2016 2017

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.