Sekondi Premix Committee raises GH¢126,000 in ten months for group revenue – Life Pulse Daily

Introduction

Recent data from the Sekondi Premix Committee reveal that the group successfully generated GH¢126,000 in revenue within a ten‑month period. This financial milestone forms part of the broader Premix Accountability Series being implemented across the Western Region of Ghana. The purpose of this article is to unpack the significance of these figures, explain the legal framework governing premix gas allocations, and provide practical guidance for other community committees seeking similar transparency and fiscal growth.

Key Points

Financial Achievement

The committee’s GH¢126,000 collection represents a ten‑month performance that aligns with the targets set by the National Premix Fuel Secretariat. By adhering to the stipulated accounting procedures, the committee was able to convert premix gas margins into a tangible community development fund.

Stakeholder Involvement

Representatives from Sekondi, New Takoradi, and Abuesi landing beach committees publicly presented their stewardship reports. Their disclosures included details on consignments received, sales executed, and the portion of revenue earmarked for the community.

Regulatory Context

Under Legislative Instrument (L.I.) 2233, 53 % of premix gas margins must be reserved for group revenue and deposited into a designated account. This legal requirement ensures that funds are systematically tracked and allocated to projects that benefit the fishing community.

Community Impact

The accumulated funds are earmarked for initiatives such as sanitation improvements, protection infrastructure, and livelihood projects. Transparent accounting, as demonstrated by the Sekondi committee, fosters trust among fisherfolk and reduces potential conflicts over resource distribution.

Background

What Is Premix Gas?

Premix gas is a blended fuel used primarily by artisanal and small‑scale fishers in Ghana. The government introduced the premix scheme to provide a subsidised fuel source, thereby supporting the fishing sector’s economic activities.

Origins of the Accountability Series

The Premix Accountability Series was launched by the National Premix Fuel Secretariat to address long‑standing concerns about mismanagement of premix revenues. The series encourages each landing beach committee to submit quarterly reports that detail inflows, outflows, and the balance of the community development fund.

Legal Framework – L.I. 2233

Legislative Instrument 2233, enacted in 2016, mandates that at least 53 % of premix gas margins be set aside for group revenue. The instrument also outlines the governance structure, including the requirement for a signed account‑keeping arrangement between the committee and the Secretariat.

Role of the National Premix Fuel Secretariat

Mr. Ebow Mensah, Administrator of the Secretariat, has been a vocal advocate for strict adherence to the regulatory provisions. He emphasizes that transparent reporting not only complies with the law but also enhances community confidence.

Analysis

Financial Transparency and Trust

When committees openly disclose the amounts received and spent, they create a verifiable audit trail. This transparency reduces suspicion and mitigates disputes that often arise from opaque financial handling.

Economic Multiplier Effect

The GH¢126,000 collected by the Sekondi committee can be reinvested in multiple downstream projects. For example, a portion may fund boat‑repair workshops, while another segment supports micro‑enterprise grants for fisherfolk families.

Comparative Performance

Other landing beach committees in the Western Region have reported varying levels of revenue collection. The Sekondi case stands out because it achieved its target within a relatively short ten‑month window, suggesting effective management practices and possibly stronger community mobilisation.

Challenges in Implementation

Despite the success, committees may encounter obstacles such as inadequate banking infrastructure, limited technical expertise in financial reporting, and occasional delays in fund disbursement from the Secretariat. Addressing these challenges requires capacity‑building programmes and clearer operational guidelines.

Practical Advice

Step‑by‑Step Reporting Checklist

1. Document all premix gas consignments received, including date, quantity, and source.
2. Record sales transactions with dates, buyer details, and revenue amounts.
3. Calculate the 53 % margin earmarked for group revenue according to L.I. 2233.
4. Deposit the calculated amount into the pre‑agreed checking account.
5. Prepare a quarterly financial statement that includes opening balance, inflows, outflows, and closing balance.
6. Publish the statement on community notice boards and online platforms.
7. Organise a community meeting to review the figures and solicit feedback.

Building Capacity

Committees should invest in training workshops that cover basic accounting principles, digital record‑keeping, and the legal requirements of L.I. 2233. Partnerships with local NGOs and financial institutions can provide both expertise and logistical support.

Leveraging Technology

Adopting simple bookkeeping software or mobile applications can streamline data capture and reduce human error. Cloud‑based solutions also enable real‑time access to financial data for all stakeholders.

Ensuring Legal Compliance

Committees must retain all transactional evidence for at least five years, as required by the Secretariat’s audit provisions. Regular internal audits help identify discrepancies before they become systemic issues.

FAQ

Conclusion

The Sekondi Premix Committee’s achievement of GH¢126,000 in ten months illustrates the positive outcomes that can emerge when transparency, legal compliance, and community engagement converge. By adhering to the mandates of L.I. 2233 and embracing robust reporting practices, committees can transform modest premix margins into substantial resources for local development. Other landing beach committees in the Western Region and beyond can replicate this model by instituting clear accounting protocols, investing in capacity‑building, and maintaining open communication channels with fisherfolk. Ultimately, such practices not only safeguard financial integrity but also strengthen the socio‑economic fabric of Ghana’s coastal fishing communities.