Renowned economist Mr. Alhassan Andani has voiced support for the government's exploration of cost-sharing options for the implementation of the free Senior High School (free SHS) programme, suggesting that parents should contribute to reduce the financial burden on the state.
With over 20 years of experience in banking, including credit management, Mr. Andani emphasized the importance of expenditure control measures, particularly in election years, to ensure debt sustainability and economic resilience. Speaking at the launch of the 10th anniversary of the Chartered Institute of Credit Management, Ghana (CICMG), he highlighted the potential benefits of allowing parents who can afford it to share the cost of fees.
In an interview with the Ghana News Agency, Mr. Andani stressed the eagerness of parents to contribute financially to their children's education. He suggested that such a cost-sharing approach could help alleviate the strain on government finances while ensuring the sustainability of the free SHS programme.
Citing data from the International Monetary Fund (IMF), which indicates higher deficits in election years compared to non-election years, Mr. Andani cautioned against overspending. He encouraged the government to prioritize expenditure items and involve Ghanaians in sharing the financial responsibility where necessary.
Acknowledging the importance of the free SHS programme in expanding access to education, Mr. Andani emphasized the need to strike a balance between subsidizing education for those who need it most and leveraging contributions from those who can afford to pay.
Dr. Anthony Aubynn, Chairman of CICMG, echoed Mr. Andani's sentiments, emphasizing the importance of fiscal judiciousness and responsible borrowing practices. He urged the government to leverage digital technology and professional expertise, such as that offered by credit managers, to enhance monitoring and reduce human interventions in financial management processes.
