Let’s help clear debts of Catholic University – Laity Council

The National Catholic Laity Council has appealed to members of the various local laity groupings to help mobilise funds to offset debts owed some financial institutions by the Catholic University College of Ghana.

The Bishops of the Catholic Church have been reportedly taken to court over some accumulated loans taken by the Church to build some structures on the campus of the University at Fiapre in the Brong Ahafo Region.

At the second Ho Diocesan Laity Congress, Mr. Francis Ebo Arthur, National Coordinator, Catholic Laity Council, said the University’s debt burden was warding off potential donors and investors as no one or business entity was prepared to commit funds to an “insolvent” institution.

He said the University’s current financial performance was a “red flag”, which discouraged well-meaning donors.

Mr Arthur said the Ghana Catholic Bishops Council levied its members an amount of GH¢10.00 to settle the indebtedness but the amount realised was insufficient to settle the debt.

He said Professor Obeng Ofori, Vice Chancellor of the University pointed out that the standard practice in establishing a University was to initially establish an endowment fund to cater for the institution’s expenditure, which was not done.

Mr Arthur said the Laity had been tasked to “aggressively” set up committees to mobilise individuals both home and abroad to help manage the debt situation.

The Ghana Catholic Bishops’ Conference conceived the idea of establishing the University in 1997 and received its certificate of incorporation on August 17, 2001

Source: GNA