Addressing Challenges and Solutions: Updates on Emergency Regional Council Meeting with Teachers Fund Officials


On Tuesday July 11, 2023, there was an emergency Regional GNAT Council Meeting held at the Regional GNAT secretariat, Takoradi.

The National President and the General Secretary of GNAT attended the meeting. The Chief Executive Officer of Teachers Fund and his team were also present.

All discussions bothered on the delay in the processing of Teachers Fund loans and other related issues.

Outcome/Issues discussed included:

1. Delay in Loan Processing

The C.E.O of Teachers Fund admitted that they are facing challenges in the processing of loans. He cited large volumes of loan applications from teachers as a result of increase in affordability due to the 30% salary increase in 2023 and the delay in the release of money by the Controller and Accountant General`s Department to the Fund. This delay is being experienced by all other third parties. He added that by the end of June 2023, the Fund has exhausted the loan budget for 2023.

2. Loan Repayment Defaulters

The Fund informed Council that some teachers have taken loans from the fund but have failed to repay. In their investigations, majority of the loan defaulters have travelled outside Ghana. 

3. Relax of Conditions on Applying for Loans

Council was informed that in the past, the Fund relaxed the conditions that teachers must satisfy before being granted a loan. As a condition, a member`s total condition must be 10% of that amount one would want to apply for. Again, a member's monthly contribution must also be 1% of the amount applied for. According to the CEO, the fund has been flexible in applying these two policies in granting loans to teachers.

4. Teachers Fund CRM Platform

The CEO informed Council that the fund has secured a new software for the CRM Platform and it is being tested. As a result, the existing platform has been disabled. Members could no longer access information on the current platform using the

5. Loan Deductions at the end of June, 2023

At the end of June 2023, some teachers who have applied for loans but have not received their cheques were mistakenly deducted. The Fund explained that they anticipated receiving money from Controller to make payments before the end of June but they were highly disappointed by the Controller.

The way forward:

1. The Fund is putting measures in place including redeeming some of the investments and also putting pressure on Controller to release money to the fund for the fund to be able to meet the increasing volumes of loan applications.

2. Strict measures have been put in place to recover outstanding loan amounts. These measures include submission of list of loan defaulters to GES Headquarters to track those who travel outside Ghana and also leave GES to join other organizations in Ghana and also to the district GNAT secretariat to track loan defaulters.

3. Teachers Fund AGM this year will be looking into other measures being proposed by the Board and Management of the Fund to ensure that teachers do not run away with loan amounts.

4. The new CRM Platform will enable teachers to transact business with the Fund directly on the platform including loan applications. This new platform will be rolled out before the end of this year.

5. Strict Enforcement of Loan Conditions/Terms 

The Fund has started enforcing the two major loan conditions; 10% and 1% total contribution and monthly contribution respectively for a given loan amount.

6. All teachers whose loan deductions took place at end of June while they have not received their cheques have been issued their cheques.

The CEO and his team assured members that they're doing everything possible to process loans on time and also address other related issues.


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