Sovereign Wealth Fund (SWF) are “State-owned investment fund or entities that are commonly established from balance of payments (BOPs) surpluses, government transfer payments, fiscal surpluses and/or receipts resulting from resource exports. This excludes, among other things, foreign currency reserve assets held by monetary authorities for the traditional BOPs or monetary purposes, state-owned enterprises in the traditional sense, government –employee pension fund or assets for the benefit of individuals.”1
Yes, Ghana has two Sovereign Wealth Funds.
Ghana Heritage Fund (GHF) and Ghana Stabilisation Fund (GSF) which are collectively known as the Ghana Petroleum Funds (GPFs)
It was established to provide a framework for the collection, allocation and management of Petroleum revenue in a responsible, transparent, accountable and sustainable manner for the benefit of the citizens of Ghana, both now and future generations.
The Petroleum Holding Fund is a transient account at the Bank of Ghana to receive and disburse petroleum revenue due the Republic.
Petroleum revenue shall be deposited in the Petroleum Holding Fund for subsequent transfers in accordance with the provisions to the Petroleum Revenue Management Act (PRMA) Act 815 and 893 as amended.
The Government of Ghana owns the Ghana Petroleum Funds.
The objective of the Ghana Stabilisation Fund is to cushion the impact on or sustain public expenditure capacity during periods of unanticipated petroleum revenue shortfalls.
The objective of the Ghana Heritage Fund is to provide an endowment to support the development for future generations when the petroleum reserves are depleted.
The Ghana Petroleum Wealth Fund is to receive the balances on both the Ghana Stabilisation Fund and the Ghana Heritage Fund within one year when the petroleum resources are depleted.