It is a universal axiom that education is the key to national development.
Therefore, nations all over the world do all they can to sustain their education systems.
However, it is undeniable that keeping the education system running involves a huge cost on the state.
TheGlobalEconomy.com website, for instance, gives a reliable idea of such a cost to individual countries as its data set includes over 500 indicators for over 200 countries spanning the period from 1960 to now.
It serves researchers, academics, investors and others who need reliable economic data on foreign countries.
According to the website, Ghana’s latest value in terms of education spending to its Gross Domestic Product (GDP) is that of 2022, which was 2.91 per cent, a decline from 3.42 per cent in 2021.
It says in comparison, the world average is 4.15 per cent, based on data from 130 countries and that historically, the average for Ghana from 1971 to 2022 is 4.42 per cent, with the minimum of 1.81 per cent in 1981 and the maximum of 8.14 per cent recorded in 2011.
In terms of absolute figures, we can use the country’s GDP of 74.26 billion USD in 2022 to have an idea.
The 4.42 per cent spending on education in 2022 calculated on the 74.26 billion USD made that year gives an absolute figure of over 3.28 billion USD, which is more than the US$3 billion 36-month (3-year) credit facility the country is receiving from the IMF.
Meanwhile, though the 2022 figure was not readily available at the time of putting together this editorial, it is on record that in 2023, education contributed nearly GH¢7.8 billion (roughly 530 million US dollars) to the country’s GDP, which is said to follow the generally increasing trend observed since 2015.
That is to say that the 2022 figure may be smaller, yet the sector consumed over three billion USD that year.
That is to say that education takes more than it contributes, yet it is a necessary evil that cannot be ignored.
In the circumstances, there is the need to seek alternative ways to fund it as the years go by.
Thus, speaking at the three-day National Education Forum which came to a close at the Volta Regional capital of Ho over the weekend, the Administrator of the Ghana Education Trust Fund (GETFund), Mr Paul Adjei, called for the diversification of funding for developing educational infrastructure in the country because relying solely on the fund for such development was not sustainable.
He proffered alternative financing models, including private sector investments, community-driven initiatives, diaspora contributions, endowment funds and philanthropic foundations.
In a related development, a group calling itself NDC ProForum North America, said to be representing dedicated professionals and experts in the diaspora, has issued a statement outlining what it describes as “A comprehensive Framework to Enhance Ghana’s Education System.”
Among issues raised is funding and therefore suggested among other alternatives that there must be a 0.5 per cent levy on diasporan remittances to create a dedicated Senior High School (SHS) Trust Fund.
The Ghanaian Times supports views to have alternative sources of funding education in the country at any level but not a levy on diasporan remittances.
Already, migrant workers pay fees to make remittances to their home countries.
Besides, recipients too pay fees to collect remittances as it is in the case of those having it through the mobile money system.
We do not want another E-Levy brouhaha in the country; rather we should think of what contribution these remittances are already making and would continue to do.
These remittances come to ease financial burdens of families, communities and even the government.
The remittances and investments help to address issues of poverty and hunger, as well as housing, good health, quality education, water and sanitation, job creation and economic growth, which, to a large extent, are problems for the government to bear.
The Ghanaian Times welcomes the ProForum’s readiness to contribute expertise, resources, and policy-driven solutions to ensure Free SHS is sustainable, equitable, and of high quality, but must shelve any idea of levying diasporan remittances to fund education, at least, for some time.