The Old Boys of Adisadel College have launched a Trust Fund to augment the government’s effort at providing the basic needs of the school.
Specifically, the fund, which seeks to raise the cedi equivalent of $3 million over a five-year period, will cater for the operations and maintenance cost of the school.
The Old Boys, also known as (Santaclausians) in Ghana, are expected to raise $1 million, while Santaclausians in United States of America (USA) and the United Kingdom are expected to raise $1 million each.
Speaking at the launch of the Trust Fund in Accra last Friday, the Chairman of the Trust Fund, Dr Samuel Mensah, explained that although the government was active in the educational sector, its resources were never enough to meet the needs of the school, hence the need to establish the fund to fill the gap between what the government was able to provide and what the school actually needed.
“There is so much that needs to be done, if we wait for the government, our school is going to deteriorate in quality, but in Adisadel, we always want to be number one, and so, we want to raise funds so that we can support the government’s efforts to build the school.
“Adisadel was built by old boys and we think our old boys are very strong and they can generate the resources that are needed to keep the school at the top,” he said.
Dr Mensah noted that just as an endowment fund operated, the contributions would be invested and the interest accrued on the principal would be spent on developing the school to maintain its number one position.
He said an Unstructured Supplementary Service Data (USSD) code (*447*2212#) had also been generated to help Santaclausians contribute their monies remotely from their respective homes.
There was a mass auctioning of customised Johnnie Walker blue and gold label whisky as a preliminary means of raising the funds.
The blue label was auctioned for GH¢10,000 while the Gold label was auctioned for GH¢5,000.
Even before the fundraising officially started, the New Patriotic Party’s Member of Parliament (MP) for Assin Central Constituency, Kennedy Ohene Agyapong, who is also an old boy of the school, presented a cheque for GH¢100,000.
Additionally, he bought two blue-label bottles of Scottish whiskey.
The Attorney-General (A-G) and Minister of Justice, Godfred Yeboah Dame, also bought a bottle at GH¢30,000.
The Minister of Trade and Industry, Alan John Kwadwo Kyerematen, also purchased a bottle at GH¢20,000.
Various year groups, including the 1992; 1993; 1989; 1972; 1977, among others, purchased bottles ranging from GH¢5,000 to GH¢12,000.