Mrs Rebecca Akufo Addo, the First Lady, has launched the Ghana Endowment Fund of the SOS Children’s Villages to support the needy and community development.
The Fund is supposed to raise $10 million in the next five years and thereafter raise an annual amount of $1 million for the next 10 years.
Mrs Akufo Addo, also the Patron of the Endowment Fund, who launched the Fund at the 50th Anniversary Dinner and Awards Night held by SOS Children’s Villages in Ghana for their internal and external donors and sponsors, said, the organisation had been a lifeline for children, adding that many children had been given a loving family environment to grow and thrive.
She disclosed that the Organisation’s target to reach two million children by 2030, faced a critical challenge as the Ghana SOS Children’s Villages would have to raise all its funding locally.
“This is why I am thrilled to launch the Endowment Fund to create a sustainable source of funding for the Organisation’s critical works. From 2024 to 2027, we intend to raise a seed capital of $5 million to support their activities,” she said.
The First Lady said in the quest to create sustainability for the Fund and help break the cycle of poverty, an external investments fund manager would be contracted to do due diligence, invest and grow the Fund which would be audited annually.
She commended the SOS Children’s Villages for working through various interventions by providing alternative care, strengthening families and child protection in communities, providing quality education, access to quality healthcare and empowering young people to be self-reliant.
Mr Alexander Mar Kekula, National Director, SOS Children’s Villages Ghana, in an address, said five decades of unwavering commitment of transforming lives of vulnerable children and families, had seen them grow into a beacon of hope for the world.
He said the Fund would reach out to several thousands of vulnerable and marginalised in society so that no child, family and community would be left behind.
The National Director said their remarkable journey over the years in providing safe havens and offering educational opportunities to children and families had been possible by the dedication, compassion and generosity of donors and sponsors.
“We look forward to continuing our vital work, reaching more children and advocating for their rights and wellbeing. With your ongoing support, we are confident that the next fifty years will be more impactful and transformative,” he said.
The Fund was birthed with Gh¢ 150, 000 and $500, 000 as donations on the night.
Various awards and recognitions were given to donors and sponsors who have supported the organisation since its inception.
SOS Children’s Village is a social development organisation with a focus on child welfare, women and youth empowerment. It established its first enclave in Tema in 1974 and later expanded to Asiakwa, Kumasi and Tamale.
GNA