Assemblies of God Ghana has fully repaid its Ecobank facility. This action cleared the debt used to finance its headquarters construction. The church also reduced its bank overdraft by about GHS 3.2 million.
The church’s 2026 financial report confirmed these significant financial improvements. The Ecobank facility was cleared ahead of schedule in July 2024. This move removed a major financial obligation, which previously required monthly payments of about GHS 800,000. General Superintendent Rev. Stephen Wengam stated this settlement removed a significant burden from the General Council and local congregations. This financial discipline highlights a strategic effort to strengthen the church's economic stability.
This financial milestone comes as Ghana's economy navigates various challenges, including inflation and currency fluctuations. Organizations, both secular and religious, are focusing on debt management and fiscal prudence. The Assemblies of God's proactive debt repayment reflects a broader trend among institutions seeking to de-risk their balance sheets. Such actions can free up capital for future investments or operational needs. This also provides a buffer against unexpected economic shocks, ensuring long-term sustainability.
Rev. Stephen Wengam, General Superintendent of Assemblies of God Ghana, emphasized the positive impact. He stated, “We have removed a major financial burden.” He added that the church experienced “200% financial growth” between 2024 and 2026. This growth figure was presented during the 32nd Biennial General Council Meeting. The meeting took place from August 18 to 22, 2026, at the Pentecost Convention Centre in Gomoa Fetteh.
The church’s audited accounts show a notable improvement in its financial health. The bank overdraft decreased from GHS 3.45 million in 2024 to GHS 244,921 in 2025. This represents a reduction of approximately GHS 3.2 million. Long-term loans also saw a substantial reduction, falling from GHS 9.4 million in 2024 to GHS 4.99 million in 2025. These figures demonstrate a concerted effort to reduce liabilities and improve cash flow. This strategic financial management positions the church more robustly for its future endeavors.
Total assets for the church increased marginally from GHS 66.5 million in 2024 to GHS 67.2 million in 2025. Property, plant, and equipment recorded a more significant increase. These assets rose from GHS 35.6 million to GHS 42.1 million over the same period. The General Superintendent’s report attributed this improved financial position partly to efforts ensuring timely transfers to the church’s regions and districts. All returns due to regions that submitted manual returns were paid up to June 2026. July payments were also being processed, ensuring smooth financial operations across its network.
Despite these significant improvements, Assemblies of God Ghana still has financial commitments. The Treasurer’s report indicates the General Council continues to support various agencies and departments. The church also has the Centenary City project ahead, requiring future investment. As of April 30, 2026, the church had about GHS 1.75 million in outstanding regional levies. However, the Greater Accra East and Greater Accra West regions have cleared their indebtedness to CalBank. This debt related to acquiring a retreat centre at Shai Hills. These remaining obligations highlight ongoing financial management needs.
This strong financial performance could encourage other religious and non-profit organizations in Ghana. It demonstrates the benefits of disciplined financial management and debt reduction. Investors and financial institutions will observe how this improved position impacts the church’s future projects. It also shows its ability to contribute to community development. The focus on reducing liabilities and increasing assets sets a positive precedent. This approach could influence financial strategies across various sectors in Ghana.