Ghana’s Heritage Fund increased to US$1.46 billion at the end of June 2026 from US$1.38 billion at the beginning of the year, according to the Bank of Ghana’s First Half Year Report on the Ghana Petroleum Funds.
The growth was supported by allocations from petroleum revenues and returns on investments during the six-month period.
The report said the Fund received US$59.14 million from crude oil revenue allocations, while investment income contributed an additional US$25.14 million.
The Heritage Fund was established under the Petroleum Revenue Management Act, 2011 (Act 815) to preserve a portion of Ghana’s petroleum revenues for the benefit of future generations after the country’s oil resources are exhausted.
Unlike the Ghana Stabilisation Fund, which is designed to cushion the economy against unexpected shortfalls in petroleum revenue, the Heritage Fund serves as a long-term savings vehicle.
The future of the Fund has remained a subject of policy debate. Civil society organisations, including the Public Interest and Accountability Committee (PIAC) and the Natural Resource Governance Institute (NRGI), have consistently urged government to maintain the Fund’s original mandate of safeguarding wealth for future generations.
However, proponents of reform contend that a portion of the accumulated savings could be channelled into strategic national investments, particularly in the energy sector, to generate stronger economic returns and support long-term economic transformation.
