Finance Minister approves 2024/25 book and research allowance payments
The Minister for Finance, Dr Cassiel Ato Forson, has approved the payment of Book and Research Allowances for senior members of public universities and colleges of education for the 2024/2025 academic year.
The decision follows recent threats by the University Teachers Association of Ghana (UTAG), the Technical University Teachers Association of Ghana (TUTAG), and the Colleges of Education Teachers Association of Ghana (CETAG) to embark on a nationwide strike over delays in releasing the applicable exchange rate for allowance computation.
In a statement issued on June 11, the Ministry indicated that, under the approved structure, academic staff in public universities will receive $1,500 as Book Allowance and $1,600 as Research Allowance.
Senior non-academic staff are also entitled to a Book Allowance of $1,500. The cedi equivalent of these amounts is to be calculated using a fixed exchange rate of GH¢15.47 to the US dollar, applicable to claims made between September 2024 and March 2025.
“For the period of 2nd September 2024 to 28th March 2025, the Bank of Ghana's average exchange rate is GH¢15.47 to $1. This rate should be used to pay for the Book and Research Allowances for the 2024/2025 academic year,” the statement read.
Dr Forson further directed that internal audit units of the various tertiary institutions are mandated to verify and validate all claims before submitting them for payment.
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Read the full statement below
