Ghana’s Sovereign Wealth Fund rakes in $29 Million, as PIAC seeks ways to boost returns

The Public Interest Accountability Committee (PIAC) has reported that Ghana's Sovereign Wealth Fund, the Ghana Heritage Fund (GHF), generated $29 million in income in 2023, with a total value of $1 billion since its inception in 2011.

The GHF received $99 million in 2023, 30% of the allocation from the Ghana Petroleum Fund.

PIAC proposed options to increase the fund's earnings, including emulating investment strategies of countries like the UAE and Norway, to reduce dependence on natural resources and build a sustainable income stream.

The committee advised against drawing down the fund and instead recommended increasing allocations to boost its capacity to generate income for budgetary support.