Ghana Petroleum Funds

Country: Ghana

Established: 2011 (expected)

US$ Billion: N/A

Transparency Rating: N/A

 Origin: Oil

Firm Investment Style: Index

Entity Structure: Fund(s)


Summary:

There are two Ghana Petroleum Funds under development.

Ghana Heritage Fund
The fund has been created as a fund for future generations of Ghanaians.

Ghana Stabilisation Fund
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).

Background:

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.

Strategy & Objectives:

The funds will be purely allocated to fixed income in investment grade securities.

Governance:

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.

Transparency:

The management of petroleum revenue and savings shall always be carried out with the highest internationally accepted standards of transparency and good governance.