The Petroleum Holding Fund (PHF) and the Ghana Petroleum Funds (GPFs) were established by the Petroleum Revenue Management Act (2011) (Act 815) (PRMA).
Ghana Heritage Fund – 54.9 Million (June 2012)
The fund has been created as a fund for future generations for Ghanaians.
Ghana Stabilisation Fund – 14.4 Million (June 2012)
The main objective for this sovereign wealth fund is to cushion the impact or sustain public expenditure capacity in periods of revenue shortfalls (decrease in oil prices).
On March 2, 2011, the Ghanaian Parliament approved legislation regarding petroleum management. The Ghana Petroleum Funds were created by the Petroleum Revenue Management Act of 2010. The funds will be funded by the Petroleum Account.
Key Executives and People
Ministry of Finance – Ghana
28th February Road
PO Box M40
Tel: +233 302 665 132
Strategy & Objectives
The funds will be purely allocated to fixed income in investment grade securities.
The Minster of Finance (Ghana) will be responsible for managing the petroleum funds. They will set investment policy. The Bank of Ghana will play an operational role.
The management of petroleum revenue and savings shall always be carried out with the highest internationally accepted standards of transparency and good governance.