The Catholic Archdiocese of Kumasi, has launched a novelty pool fund as a measure to shore up the financial base of the archdiocese to support evangelisation and developmental activities.

Known as the Catholic Archdiocese of Kumasi Pool Fund (Cakp-Fund), it aims at mobilising and accumulating capital from the 69 parishes of the archdiocese, to invest in high yielding financial portfolios to support evangelisation, priest’s pension scheme, education, health, the religious, social intervention, developmental projects and other cares that might become necessary.

Most Reverend Gabriel Justice Yaw Anokye, Metropolitan Archbishop, speaking at the ceremony said the purpose of the fund was to galvanise the energies and resources of both members and non members to support the numerous developmental and social intervention activities of the church.

He said the time has come for the church to look within itself and mobilise solid financial base to deepen and rekindle evangelism, improve health care delivery, increase the capacities of priest and other church workers, improve upon the operations and management of existing projects and initiate new ones.

Most Rev Anokye said these initiatives would enhance the work of the church to win more souls for Christ and improve the living conditions of members and the society.

Mr John Kofi Mensah, Chairman of the Family Fountain Assets Management and Securities, Managers of the fund, said the novelty concept was a partnership between the archdiocese and his company, to create a well defined, conscious, robust and sustainable support structure to pursue the church’s traditional socially responsive roles in an enhanced form.

He said it would ensure that all assets both liquid and fixed would be put to productive use and optimised through an integrated approach that would promote consistent availability of cash flow.

He said the pool fund concept is a revelation and innovation that would form a funding hub for all the activities of the archdiocese and make the support for socially responsiveness more resilient and sustainable.

Mr Mensah said the ultimate aim is to establish a financial institution that would be a force in financial intermediation and probably, turn into an archdiocesan bank in the near future.

Nana Boakye Ansah Debrah, Asokore Mamponghene, who represented the Asantehene, Otumfuo Osei Tutu II, praised the Catholic church for its socio-economic and developmental initiatives, which aimed at improving the living standards of its members and society as a whole.