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Stanbic, Fidelity, Ecobank Securities to manage Kath Endowment Fund

botchway December 4, 2018

 

From Sebastian R. Freiku, Kumasi             .

Three financial institutions, Fidelity Bank, Ghana Commercial Bank and Ecobank, have been selected as custodian banks of the Komfo Anokye Teaching Hospital (KATH) Endowment Fund.

The GH¢120 million Endowment Fund, which was launched in Kumasi last Friday by the First Deputy Speaker of Parliament, Joseph Osei-Owusu, would be managed by Stanbic Securities, Fidelity Securities, and Ecobank Securities.  
Dr. Oheneba Owusu Danso, Chief Executive Officer (CEO) of KATH, said at the launching that the said banks have registeredmobile money short codes for the Endowment Fund to enable corporate organisations, philanthropists, government institutions, and individuals to donate to the Fund.

“No donation is too small for the Fund,” the KATH CEO said.

He explained that the Fund would serve patrons of the health facility better in the years ahead, since its mandate, scope of operations and services have undergone comprehensive changes in the last 60 years of operations.

He said the idea to reposition the hospital was mooted by the Board, following which an audit of the state of equipment and infrastructure was done to address the logistical and infrastructure challenges of the health facility, as well as assisting the vulnerable who may not be able to foot their medical bills.

About GH¢70 million of the target would go into the provision of modern equipment for the hospital, out of which GH¢50 million would be committed into infrastructural development, including centres for Cardiothoracic Surgery, Plastic and Reconstructive Surgery, Transplant Surgery, Fertility Services, Central Laboratory and General Stores for large volumes of medical consumables and medicines, in addition to the expansion of the Psychiatry and Diabetes Care centres.

Dr. Owusu Danso announced that an 11-member independent Board of Trustees had been appointed to administer the fund to ensure complete transparency and accountability.

The members of the Board of Trustees include Mr. Kwabena Kesse of Kessben Group, Nana Adwoa Dokua, Managing Director (MD) Beauty Queen Hotel, Dr. K. K. Sarpong, CEO of the Ghana National Petroleum Corporation (GNPC), Alhaji Kamil, a Businessman, and Mr. Opoku Boamah, CEO, Opoku Trading.

The rest are Mrs Gladys Owusu Achaw, MD Lamerta Hotel, Mrs. Akuamoah-Boateng, a Health Development Consultant, Mr. Charles Dontoh, Dr. Kofi Osei-Afoakwa, Nana Achiaa Asante and Elvis Kusi, Director of Finance of KATH.

The KATH CEO also commended the Board and the Planning Committee for initiating the Fund

Meanwhile, Dr. Kweku Oteng of the Angel Group of Companies has contributed GH¢100,000.to the fund, and further pledged to raise GH¢500,000 towards the acquisition of ventilators for the Intensive Care Unit of the facility.

Stanbic Bank also donated GH¢50,000, while the Managing Director for K. Badu Agro Chemicals Limited has pledged GH¢1 million towards the execution of critical facilities at KATH.

Other donors include Apex Global Limited (GH¢5,000), Silk Coat (GH¢5,000), and the Ashanti MP Caucus (GH¢10,000).

Mr. Opoku Boamah, Chairman of the Board of Trustees, who personally pledged an initial GH¢20,000 and the assurance to make donation points available at Poku Trading on behalf of the Trustees, said he would apply frugality, transparency and the utmost responsibility to manage the resources accruing from the Endowment Fund.

He noted that the core mandate of KATH is the provision of quality health services, hence, the need for the citizenry to live up to its shared responsibility and raise resources to sustain the maintenance of KATH.

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