Innovative Financing of Educational Infrastructure in Ghana Essay

INNOVATIVE Financing OF EDUCATIONAL INFRASTRUCTURE IN GHANA

Table OF CONTENT

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Table of Content1

1.1 Background of Study2

1.2 Statement of Problem4

1.3 Purposes and Aims of Research5

1.3.1 Research Aim5

1.3.2 Research Objectives5

1.4 Research Questions5

1.5 Significance of Study5

1.6 Methodology6

1.7 Scope of Study7

1.8 Structure of Report7

1.9 References9

List OF FIGURES AND TABLES

Fig 1.1 Workflow of Study8

Chapter ONE

GENERAL INTRODUCTION OF THE STUDY

  1. BACKGROUND OF STUDY

Harmonizing to Nelson Mandela, former president of South Africa and Nobel Peace Prize laureate, 1993, instruction is the most powerful arm which can be employed to alter the universe. Government outgo on instruction, as a per centum of G.D.P in Ghana was 8.22 % in 2011 ( UNESCO – Institute of Statistics, 2011 ) . This value being the highest in the past 40 old ages, indicates the demand for enlargement educational resources in the state ( UNESCO – Institute of Statistics, 2011 ) .

The cardinal human right to entree instruction may non be realized by some Ghanese kids if strategic steps are non put implemented to guarantee the proviso of equal substructure ( Amenyah, 2013 ) . Adequate and choice educational substructure is critical for the attainment of a more productive and competitory national economic system and run intoing public demands ( Guerrero, 2001 ) .

Notwithstanding the fact that Ghana is faced with legion challenges in the funding of general substructure for national development, consecutive authoritiess have taken some enterprise to supply support for the development of educational substructure in the state.

Vision 2020 is an enterprise which was developed during the so Rawlings-led authorities with the purpose of traveling Ghana to a middle-income state position via coordinated plan of Economic and Social Development Policies ( Ghana National Development Planning Commission, 1994 ) . In 2002, the so Kuffuor-led authorities in conformity with its medium-term precedences, initiated the Ghana Poverty Reduction Strategy ( GPRS ) , which spelled out the creative activity of substructure amongst other precedences ( IMF, 2012 ) .

The preparation of the National Policy on Public Private Partnership ( PPP ) is besides another enterprise which was brought frontward as another agency of funding substructure. This policy was formulated to increase the engagement and fiscal committedness of the private sector to complement authorities attempt in the development of substructure and services in the state as a whole ( Government of Ghana, Ministry of Finance and Economic Planning, 2011 ) . Given the limited public funding resources available and foreign exchange hazards associated with typical giver support, developing state authoritiess have been admonished that the mobilisation of capital from local fiscal markets to tap domestic economy is indispensable in developing sustainable substructure funding ( Baduet al. ,2011 ) .

Many states across the Earth perceive public-private partnerships ( PPPs ) as a agency of funding substructure ( IMF, 2004 ) , nevertheless the success and challenges of this finance bringing method is non applicable to all states ( Baduet al. ,2011 ) . It is off necessity that advanced funding of substructure is exhaustively explored specifically in Ghana to assist advance choice instruction.

  1. STATEMENT OF PROBLEM

Ghana’s Educational Act of 1961, provinces in Section 2 ( 1 ) that “every kid who has attained the school-going age as determined by the curate shall go to a class of establishment as laid down by the curate in a school recognized for the intent by the Minister.” However this demand has non to the full been met due to the fact that Ghana, like most African states, is challenged with substructure shortage every bit good as spreads in the proviso of finance ( Fosteret al. ,2009 ) .

Since independency, the Central authorities has been responsible for the funding of public instruction establishments ( UNESCO-IBE, 2006 ) . By jurisprudence ( Educational Act of 1961 and PNDC Law 207 ) , District Assemblies are to supply edifices and equipment for basic Education in Ghana, nevertheless most of the Assemblies have been unable to adequately make so due to fiscal restraints. The Ministry Of Education in Ghana besides provides physical installations, substructure and equipment for all facets of post-basic instruction in Ghana, but this has non been equal ( UNESCO-IBE, 2006 ) .

Introduction of GETFund and recent involvement in PPP, are all advanced efforts put up, but attempts to day of the month are deficient to run into the challenges ( Government of Ghana. Ministry Of Finance and Economic Planning, 2011 ) . Assorted illustrations of kids holding categories under trees still suffice, old ages after the debut of the GETFund.

This research is purposed to research advanced funding steps applied in the proviso of educational substructure in order to bridge the spread between the turning demand for educational substructure in the state and the proviso of the needed substructure.

  1. AIM AND OBJECTIVES OF RESEARCH
    1. Research Aim

The purpose of this survey is to research advanced funding attacks to enable increased proviso of educational substructure in Ghana.

  1. Research Aims

To achieve the above-stated purpose, the undermentioned aims are stated:

  1. To carry on literature reappraisal on the sphere of advanced funding and educational substructure.
  2. To research the application of advanced funding schemes in the proviso of educational substructure in Ghana.
  3. To order betterments on current advanced funding schemes.
  1. RESEARCH QUESTIONS
  1. What is the construct of advanced funding, and educational substructure?
  2. How has advanced funding schemes been applied in the proviso of educational substructure in Ghana?
  3. What can be done to heighten upon the current finance inventions?
  1. Significance OF STUDY

Presently Ghana is faced with substructure shortage ( Government of Ghana, Ministry of Finance And Economic Planning, 2011 ) and the educational sector is by no agencies excluded. Harmonizing to Dirie ( 2005 ) as summarized by Baduet Al. ( 2011 ) , fiscal resources are acquiring more expensive and the long-run sustainability of the current Infrastructure market is in uncertainty, therefore the necessity of alternate funding.

These grounds, are among the footing for which this research will be conducted to complement old surveies into the application of advanced funding in Ghana’s educational sector substructure. Findingss from this survey are besides expected to assist complement the policies which have been implemented by Government towards acquisition of support for educational substructure in Ghana.

  1. Methodology

This subdivision will consist of an extended reappraisal on bing literature refering to the construct of advanced funding and its application in the bringing of substructure, with accent on Ghana’s educational sector.

Exploratory interviews will so be conducted to pull out informations refering to the issues involved in the funding of educational substructure in Ghana, aboard required information which might non be captured in the literature reviewed. Based on the findings from the literature reappraisal and the interviews to be conducted, self-administrated structured questionnaires will be developed ( Focused on the purpose and aims of the research ) in the latter aggregation of primary informations from the field.

Upon the aggregation of the informations, the first phase of the analysis will be conducted, uniting the procedures of redacting, coding, and categorization of the information. Predictably, the centre of the research will be the usage of advanced funding, therefore it will be the variable which will be reliable on other variables ( Kothari, 2004 ) . Hence the non-parametric trial: Chi Square trial will be applied as a trial of significance to demo the association between the variables involved. Factor analysis will besides applied to look into whether the variables of involvement are linearly related to a smaller figure of unobservable factors ( Tryfos, 1997 ) .

  1. Scope OF THE STUDY

The survey will concentrate on public sector bureaus responsible for the proviso and direction of advanced funding of substructure in the educational sector, specifically the GETFund.

Geographically, the survey will be conducted in the Greater Accra and Ashanti parts of Ghana. The Greater Accra part is chosen because it is the administrative capital of the state and besides contains the caput offices of the Public establishments involved in the survey ( Adanket al. ,2011 ) . The Ashanti Region on the other manus is chosen because of its propinquity to the research work, in footings of directing out questionnaires and roll uping them back.

  1. STRUCTURE OF THE STUDY

The survey will be organized into five chapters. Chapter one will be the debut, which encompass the background of the survey, statement of the job, purpose and aims, research inquiries, significance of the survey, methodological analysis, range, and the construction of the survey. Chapter two will see the reappraisal of literature related to the survey. Chapter three will so analyze the inside informations of the research design, methodological analysis, and informations aggregation. Chapter four will concentrate on the analysis and treatment of the informations collected for the survey. Finally, chapter five will speak about the sum-up, decision and recommendations for the survey. The subsequent model shows the work flow of the survey.

Fig. 1.1 Workflow of Study

  1. Mentions

Adank, M. , Darteh, B. , Moriarty, P. , Osei-Tutu, H. , Assan, D. , and Rooijen, D. V. , ( 2011 ) , “Towards integrated urban H2O direction in the Greater Accra Metropolitan Area, Current position and strategic waies for the future” . SWITCH/RCN Ghana, Accra, Ghana.

Amenyah, A. A. , ( 2013 ) , “Special News Analysis: Ghana Needs Education Infrastructure Policy” , Modern Ghana.

Botchie, G. , ( 1997 ) , “Rural District Planning in Ghana: A Case Study” . London International Institute for Environment and Development. Environmental Planning No. 21.

Badu, E. , Owusu-Manu, D. , Edwards, D. J. , and Holt, G. D. , ( 2011 ) , “Innovative funding ( IF ) of substructure undertakings in Ghana: conceptual and empirical observations” , Engineering Project Organization Journal, Vol. 1, No. 4, pp. 255-268.

Vivien, F. , Butterfield, W. , Chen, C. , and Pushak, N. , ( 2009 ) , “Building Bridges: China’s Turning Role as Infrastructure Financier for Sub-Saharan Africa” . Trends and Policy Options Series, Washington DC: PPIAF.

Ghana, Ministry of Finance and Economic Planning, ( 2011 ) , “National Policy on Public Private Partnerships” .

Ghana National Development Planning Commission, ( 1994 ) , “National Development Policy Framework, Vision 2020 – The First Step” .

Ghana, Basic Education Division, Ghana Education Service, ( 2004 ) , “The Development of Education National Report of Ghana” .

Guerrero, P. F. , ( 2001 ) , “U.S. Infrastructure: Support Tendencies and Federal Agencies, Investment Estimates” , Working Paper no. GAO-01-986T, General Accounting Office, USA.

International Monetary Fund, ( 2012 ) , “Ghana: Poverty Reduction Strategy Paper” , Washington: International Monetary Fund Publication Services, I.M.F Country Report No. 12/203.

Kothari, C. R. , ( 2004 ) , “Research Methodology: Methods and Techniques” . 2nd Rev. Ed. New Age International Publishers, India.

Tryfos, P. , ( 1997 ) , “Methods for Business Analysis and Forecasting: Text and Cases”

United Nations Educational, Scientific, And Cultural Organization ( UNESCO ) , Institute for Statistics, ( 2011 ) , “Education: Outgo on instruction as % of G.D.P” .

United Nations Educational, Scientific, and Cultural Organization – International Bureau of Education, ( 2006 ) , “World Data on Education” , 6th Edition, 2006/2007, Geneva: UNESCO-IBE.

World Economic Forum, the World Bank, the African Development Bank, and the Ministry of Foreign Affairs of Denmark, ( 2013 ) , “Africa Competitiveness Report, 2013” , Geneva: World Economic Forum.

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