$350 million needed to complete National Cathedral – Secretariat explains

• The construction of the National Cathedral is underway in Accra

• $350 million is now the new figure needed for the project

• The secretariat says the extra $100 million will ensure they don’t depend on foreign support

National Cathedral Secretariat has announced a new estimated cost of $350 million for the construction of the project.



Read full article/> This is an increment from the initially pegged amount of $250 million for the national edifice, citinewsroom.com has reported.

In September, the National Cathedral Secretariat had indicated that the extra $100 million will form part of monies to be kept in an endowment fund that will ensure that activities that will happen at the facility are catered for.

The Chief Executive Officer of the Secretariat, Dr. Paul Opoku-Mensah, added that this new arrangement is also to ensure that they do not rely on external aid in the management of the edifice.

“[We thought that] Instead of looking up to others to give us grant to run the programme, beyond the cost [of the structure], can we add about a $100 million just to ensure that we have resources in perpetuity,” he said.

He further explained that it is possible, through this project, to have institutions that do things differently with it comes to their finances and expenditure.

“Normally for the endowment, you invest it, and you only use the interest so if we raise $100 million, every year, based on the interest, we will have some money… That is the target we have set for ourselves… We want to insist that, it is possible to do things differently. $250 million is for the building and the $100 million is for the endowment fund that will allow us to run this in a very progressive way,” he added.

He also disclosed that the Seventh-Day Adventist Church (SDA Church) has made a donation of GH¢200,000 towards the construction of the project.



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