The Chief Operating Officer of SIB Liberia Limited and a 1996 year-group student of Mfantsipim School, Patrick Ebo Kittoe, has called on the Mfantsipim Old Boys Association (MOBA) to reduce its reliance on donations and develop sustainable revenue streams. This, he believes, will protect the school's heritage beyond 150 years. Kittoe made the call at the 11th MOBA Annual Engagement Series held at the Ecobank Ghana Head Office on September 30.
Kittoe emphasized that excessive dependence on donations and sponsorships could expose MOBA to financial instability, unpredictable operations, and restrictions that could undermine its long-term objectives. He stressed that sustainability must be approached from environmental, social, and financial perspectives. This includes ensuring that activities do not harm the environment, respecting human rights, traditions, and culture while ensuring that resources are not depleted at the expense of future generations.
According to Kittoe, MOBA's financial structure shows a significant dependence on donations and other contributions. Using MOBA's 2024 and 2025 financials as a sample period, he revealed that the association recorded aggregate revenue of GH¢10.7 million, with 92 percent coming from donations, sponsorships, dues, and project levies. Kittoe warned that dependence on external funding could limit MOBA's independence because donors could influence how funds were used.
Kittoe identified several challenges associated with heavy reliance on donations, including revenue volatility, restrictions on the use of funds, donor dependency, and long-term planning challenges. He cited changes in US foreign aid spending as an example of how shifts in donor priorities could affect organizations that depend heavily on external financing. Kittoe emphasized that if MOBA fails to self-finance its needs, the school's heritage, traditions, and culture will be at risk.
To address the financial challenge, Kittoe proposed that MOBA explore commercial ventures capable of generating sustainable income for the association. He suggested complementing the existing endowment fund with an impact investment fund dedicated to establishing businesses and other income-generating ventures. Kittoe praised the initiatives already undertaken by the Mfantsipim endowment fund, stressing that his proposal was intended to complement rather than replace the existing structure.
Kittoe also called for a deliberate effort to communicate the Mfantsipim story to students and old boys to strengthen their sense of identity and belonging. He proposed the introduction of an orientation program for newly admitted students to help them better understand the courses available and make informed decisions about their academic paths. This, he believes, will help groom and direct students into developing a stronger sense of purpose and connection to the school.
Ultimately, Kittoe emphasized that building a sustainable financial model will be critical to protecting Mfantsipim's traditions, heritage, and future development as the school looks beyond its 150th anniversary. He stressed that any commercial venture established by MOBA should be designed to survive beyond the current generation and transcend to future generations.
Key points
- MOBA must reduce its reliance on donations to protect Mfantsipim's future.
- Developing sustainable revenue streams is crucial for safeguarding the school's 150-year heritage.
- MOBA's financial structure shows a significant dependence on donations, which could limit its independence.
