Government efforts to manage premix fuel funds have successfully tracked GHS 4,676,011.14. This figure represents money managed by Landing Beach Committees within the Community Development Fund. An ongoing nationwide exercise is examining how this money is used. The goal is to make the system more transparent and ensure funds are managed responsibly.
The Community Development Fund gets 53 per cent of profits from selling subsidised premix fuel. This money is meant for development projects in fishing communities. The current exercise follows a special audit. This audit, done by the Ministry of Fisheries and Aquaculture, looked at the period from 2016 to 2024. It found problems like unclear transactions and poor record-keeping.
This initiative is part of the government’s broader Reset Agenda for key economic sectors. Ghana's economy relies heavily on its fisheries. These reforms are crucial for sustainable growth. Inefficient management of funds can hinder development in coastal areas. Previous similar exercises have highlighted the need for better financial oversight in these communities. The National Premix Fuel Secretariat is leading these efforts.
Mr. Ebow Mensah, Administrator of the National Premix Fuel Secretariat, called the exercise vital. He stated it aims to restore trust. "This exercise goes beyond financial reconciliation," Mr. Mensah explained. "It is about promoting transparency, accountability, and responsible stewardship of resources." The Secretariat is gaining a clearer view of financial practices at the community level. It is also identifying areas needing improvement and stronger supervision.
The exercise has uncovered several operational issues. Some committees face delays in verifying bank records. Changes in who can access bank accounts slow down reconciliation. Other committees are waiting for official letters. These letters are needed to open bank accounts for depositing fund proceeds. Many committee members also lack knowledge of basic bookkeeping. They need more training on bank documentation and reconciliation processes.
To address these issues, steps are being taken. These include better monitoring and support for record-keeping. Compliance checks and closer work with local government bodies are also planned. The Secretariat is emphasising the importance of following regulations, like L.I. 2233. This law governs the premix fuel system. Committees must ensure all due fund proceeds are deposited correctly. They must also use them only for approved community projects.
Minister for Fisheries and Aquaculture, Hon. Emilia Arthur, supports these reforms. She stresses the link between accountability and community development. Proper finances are essential for fishing communities. They are also key to the fisheries sector's long-term health. The exercise continues across Ghana. It aims to improve governance and ensure funds truly benefit fishing communities.