PAC commends GIFEC for its prudence and strong liquidity position

7.2% increase in surplus of income over expenditure, compared to the previous year, significantly improving its liquidity, as a result.

He concluded that GIFEC's “financial position is very good.

Non-current assets increased by 14.5%, current assets by 20.1%. Their liquidity position is very strong and (has) even improved over the previous year. In fact, they did well and need to be commended.”

On progress of the Ghana Rural Telephony and Digital Inclusion Project (GRT&DIP), GIFEC’s flagship project, Mr. Prince Ofosu Sefah, Administrator (CEO) of GIFEC commented about its unprecedented nature, as begun in late 2020.

He mentioned that 473 out of the 1,008 (50% of the planned 2,016 Rural Mobile Sites being deployed by the Project) have completed and are active and delivering voice and data services to citizens.

He assured the Committee that plans are far advanced and efforts are being expedited to resolve all technical difficulties being encountered, to ensure that the remaining Sites are all built and activated this year.

He concluded that equipment for the construction of the remaining 50% of the 2,016 Sites are actually in the country, awaiting funding for deployment, which is expected in the near-future.

The GRT&DIP forms part of GIFEC’s flagship Rural Telephony Programme, which is funded by the Government of Ghana (GoG), through a strategic agreement with Huawei and China National Technical Import & Export Corporation