Bleoo Legacy Fundraising Initiative targets GH¢1 million investment fund to support Accra Academy

The Bleoo Legacy Fundraising Initiative (BLFI) says it will step up efforts to build a GH¢1 million investment fund to support Accra Academy, after reporting improved finances for 2025.

The Initiative made the announcement at its second Annual General Meeting, held on Thursday, 10 September 2026, at the University of Ghana Alumni Conference Hall, where members, trustees and management reviewed the year’s activities and set priorities for the year ahead.

Members heard that the BLFI had already surpassed its initial fundraising target of GH¢100,000.

The Chairman of the Board of Trustees, Mr Richard Okrah, said the fund’s strategy was to build long-term investment capital rather than spend contributions immediately, so that it could generate income and provide Accra Academy with a more reliable source of support over time.

Mr Okrah said the BLFI would back projects based on whether they address genuine needs at the school, whether they are likely to have measurable impact, and whether supporting them would not unnecessarily deplete the capital base the fund is building. He added that management had been directed to draw up a formal strategic plan setting out clear objectives, milestones, targets and timelines.

The AGM also reviewed the BLFI’s audited financial statements for the year ended 31 December 2025, which showed total revenue rising from GH¢11,105 in 2024 to GH¢17,509 in 2025, an increase of about 58%. Investment income grew from GH¢8,328 to GH¢11,483, while donations and contributions rose from GH¢2,777 to GH¢6,000.

Administrative expenses fell from GH¢5,171 to GH¢4,452 over the same period. The excess of income over expenditure climbed from GH¢5,934 to GH¢13,057, and the accumulated fund grew from GH¢78,185 to GH¢91,242.

Despite its focus on building investment capital, the BLFI has continued to support Accra Academy directly. It contributed GH¢5,000 towards repainting and refurbishing Ellen House and Claremont House in James Town, ahead of the school’s 2026 Homecoming and 95th anniversary celebrations. Accra Academy was founded at Ellen House in 1931, while Claremont House served as its first boarding house from 1935. The full project cost GH¢9,954.

The fund has also earmarked staff accommodation, one of Accra Academy’s centenary projects, as an area for future support. It contributed GH¢10,000 towards the project in 2023 and plans to explore further funding. In total, the BLFI has channelled GH¢17,000 in investment revenue to the school so far.

The AGM paid tribute to two Patrons who died during the year, Nana Akuoko Sarpong, Paramount Chief of the Agogo Traditional Area, and Mr Vincent Birch Freeman, a former Headmaster of Accra Academy, observing a minute of silence in their memory.

Four new Patrons have since joined the Council: Neenyi Ghartey VII, Paramount Chief of the Effutu Traditional Area of Winneba; Dr Edward Botchway, Managing Director of Absa Bank; Mr Kojo Addae-Mensah, Group Chief Executive Officer of Databank; and Mr Bernard Appiah Gyebi, Managing Director of United Bank for Africa (UBA).

Members also adopted amendments to the BLFI Constitution, unanimously, formally establishing the fund as a charitable, non-profit organisation of a public nature and reinforcing its political neutrality. The AGM was told that the BLFI has obtained its Non-Profit Organisation (NPO) licence and filed its statutory annual returns and financial statements with the Office of the Registrar of Companies.

A new contribution-recognition system was also unveiled, allowing the fund to honour members and donors without disclosing individual contribution amounts. The system has five tiers, Bronze, Silver, Gold, Platinum and Diamond, each with its own lapel pin.

The BLFI said it also intends to deepen ties with alumni chapters in North America, the United Kingdom and other parts of the diaspora, and to work more closely with other fundraising initiatives linked to Accra Academy to avoid donor fatigue and duplicated efforts.

While acknowledging that its resources remain modest against the GH¢1 million target, members expressed satisfaction with progress made so far and called for a sustained, coordinated fundraising push.