The NS embarked on an enhanced financial management drive that led to notable improvements in reporting timelines, the quality of financial reports, and the overall financial outlook of the National Society.

No significant audit queries were raised regarding financial or procurement practices, reflecting the integrity and robustness of the systems in place. Notably, for the first time in recent years, the Public Accounts Committee of the Parliament of Ghana commended the National Society for its significantly improved financial performance.

In 2024, the Ghana Red Cross Society operated within a rapidly changing financial and economic environment. Actual income stood at GHS 12.84 million, representing 62% of the 2024 budget target.

However, 2025 has been budgeted ambitiously at GHS 25.9 million, projecting a 347% increase over 2024 actual income, with major growth anticipated from partners like IFRC, ICRC, and relatively new initiatives such as those supported by My Climate and Fontes.

The NS is also exploring other avenues of innovative financing within the carbon credit space, tree planting and care, E-business for our first services and products. Membership drive and contributions will witness a major boost within the coming year. A major expectation is the Tree Planting and Care Project which is projected to earn the NS approximately GHS16m within the first year (2025).

Total Expenditure in 2024 amounted to GHS 13.44 million, against a 2024 budgeted spend of GHS 17.47 million, achieving 77% budget utilization. For 2025, expenditure is projected at GHS 25.93 million, marking a 69% increase over 2024 actuals. The year 2024 closed with a minor deficit of GHS 35,396.34.

Income Analysis

  • IFRC remained the primary donor in 2024, contributing GHS 9 million, with a 98% growth projected in 2025 to GHS 17.82 million.
  • ICRC support grew modestly to GHS 2.3 million in 2024; an 11% increase to GHS 2.56 million is forecasted for 2025.
  • The My Climate initiative received GHS 340,000 in 2024 and is projected to reach GHS 2.5 million in 2025, indicating a significant strategic investment.
  • Youth Activities increased from GHS 20,000 in 2024 to GHS 50,000 planned in 2025, a 150% growth.
  • The 6% Administrative Cost Recovery realized GHS 255,016 in 2024. A 380% increase is projected for 2025, aiming at GHS 1.22 million, reflecting more projects coming to Ghana and enhanced efficiency in cost recovery mechanisms.
  • GOG Support is expected at GHS 20,000 in 2025, marking its reintroduction into the funding mix.

 

Insights

  • IFRC and My Climate are the major growth drivers for 2025.
  • Notable increases in 6% admin cost recovery and IGF highlight an internal shift toward sustainability.
  • GOG Support is expected to be introduced after recording no funding for over a decade.

Total Income is projected to increase by GHS 13.06 million (347%) in 2025.

Expenditure Overview

Key Expenditure Highlights

    • Personnel Costs rose to GHS 1.47 million in 2024 and are expected to grow by 148.5% to GHS 2.19 million in 2025, largely to support expanded operations.
    • Office Running Costs, Maintenance, and Office Supplies are all projected to increase moderately, signalling a scaled-up organizational footprint.
    • Building and Vehicle Insurance rose sharply from GHS 45,000 to GHS 150,000, marking a 333% growth, emphasizing risk protection.
    • First Aid Kits and Training Costs remained steady, although projections for 2025 show moderate adjustments. The First Aid Kit budget increased to GHS 305,000, while Training was set at GHS 142,500.
    • Red Cross Cloth and Products also reappear in the 2025 budget, signifying renewed focus on branding and visibility.
    • National Society Development is budgeted at GHS 1.1 million in 2025, reflecting investments in structural strengthening and sustainability.
    • IFRC program expenditure nearly doubles in 2025, indicating scale-up of humanitarian projects.
    • Personnel Cost, Insurance, and Organizational Development show major increases.
    • New allocations for My Climate, Red Cross Cloth, and National Development reflect strategic growth.
    • Expenditures for ICRC slightly decrease, suggesting better cost-efficiency or completed activities.

     

    Total Expenditure is expected to rise by GHS 9.37 million (69%) in 2025.

    Surplus/Deficit Position

    Despite prudent expenditure controls in 2024, the Ghana Red Cross Society closed the year with a marginal deficit of GHS 35,396.34. This reflects the lag in income realization against growing needs and operations.

    The 2025 budget aims to correct this through stronger donor engagement, improved internal income generation, and strategic alignment with climate and youth initiatives.

    Key Takeaways

    • 2024 experienced a slight deficit of GHS 35,396, attributed to income-expenditure mismatch and new program expansions.
    • The 2025 budget targets a balanced outcome (zero deficit), aiming for fiscal equilibrium through enhanced income mobilization and strategic spending.