Dr. Kingsley Agyemang, the Member of Parliament for Abuakwa South, proposes establishing a National Disaster Risk Management Fund (NDRMF) to strengthen Ghana's response to emergencies. This comes after recent heavy flooding and fire outbreaks across Accra on June 3, 2026, which displaced hundreds and disrupted economic activity. Dr. Agyemang's call aligns with the 11th anniversary of the June 3, 2015, twin flood and fire disaster that killed over 150 people.
Dr. Agyemang's proposal seeks to move Ghana from a reactive disaster management approach to a sustained financing model. This model would support preparedness, relief, and recovery efforts. Recurring floods and fires consistently destroy homes, businesses, and public infrastructure, especially in Accra metropolitan area. This places a heavy financial burden on families and the national economy.
Ghana's economy faces significant costs from climate-related disasters. Environmental expert Dr. Samuel Dotse estimates that floods and droughts cost Ghana approximately GHS 2.4 billion (200 million USD) each year. In severe instances, these combined disasters could reduce the nation's economic output by as much as 15.23% of its Gross Domestic Product (GDP). Such recurring economic shocks hinder sustainable development and government fiscal planning.
Speaking on JoyNews' The Pulse, Dr. Agyemang stated that Ghana must adopt global best practices for disaster financing. He cited examples from Japan, the Philippines, Mexico, India, and the United Kingdom. These countries have dedicated disaster financing and risk-sharing mechanisms. This helps their governments respond quickly and support affected communities effectively.
Dr. Agyemang, an insurance expert, noted that insurance alone cannot absorb the growing losses. Many properties in Ghana remain uninsured despite existing legal requirements. He argued that a dedicated fund would provide a crucial financial buffer. This buffer would support relief operations and reconstruction efforts when disasters overwhelm existing resources.
He proposes funding the NDRMF through government budgetary allocations, special levies, and private-sector contributions. A dedicated portion of petroleum revenues would also contribute to the fund. This diversified funding approach aims to ensure its sustainability and effectiveness.
Dr. Samuel Dotse attributes much of the recurring flooding to human activities. These include indiscriminate waste disposal, illegal structures on waterways, and weak enforcement of planning regulations. These factors exacerbate the impact of natural rainfall events.
Unless Ghana adopts a comprehensive disaster risk management strategy, the country will continue to suffer recurring economic losses. This strategy must combine financing, prevention, and enforcement. Dr. Agyemang called for stronger collaboration among government agencies, local authorities, the private sector, and citizens. This collective effort is essential to build a more resilient and disaster-ready nation.
The establishment of such a fund could stabilize national and local budgets during crises. It would reduce the reliance on emergency appeals and reactive spending. Decision-makers and financial markets will closely watch progress on this proposal. Its implementation could improve Ghana's economic resilience against future climate shocks and urban development challenges.