The Evangelical Presbyterian Church, Ghana (EPCG), says it has paid more than GH¢11.7 million towards debts inherited by the outgoing administration, exceeding the GH¢7.2 million debt burden it assumed.

Outgoing Moderator of the General Assembly, Right Rev. Dr. Lt. Col. Bliss Divine Kofi Agbeko (Rtd.), disclosed this in his final address at the official opening of the Church’s 12th General Assembly in Ho.

He said the figure represented payments made as of June 23, 2026, as his administration sought to settle accumulated obligations and improve the Church's financial position.

"We inherited a total debt of over 7.2 million cedis, out of which, as at 23rd June this year, we have paid over 11 million, 77,54.883 Ghana cedis," he told the Assembly.

The repayment programme, however, has not brought all the Church’s liabilities to an end.

Rev. Dr. Agbeko said the Church continues to service an outstanding debt owed to the National Investment Bank (NIB), although the repayment arrangement has been renegotiated.

"With the NIB, we have gone to renegotiate the payment plan. This particular debt servicing is still ongoing," he said.

He said other financial obligations had been cleared, including a debt owed to a construction company.

"The local debt, the [construction company], what we owe them has been cleared since last December. We are free of that," he said.

According to him, several of the institutions that had previously supported the financing of the Church are also no longer owed money.

He listed the World Alliance of Reformed Churches, World Communion of Reformed Churches, World Council of Churches, All African Council of Churches, Christian Council of Ghana, Community of Churches in Mission and Trinity Theological Seminary among institutions that had previously provided financing.

“We don't owe them anything anymore,” he said.

The debt repayments form part of a wider financial restructuring agenda the outgoing Moderator wants the Church to maintain after his tenure.

No new loans without approval

With the Church's experience of accumulated debt, Rev. Dr. Agbeko called for stricter controls over borrowing by its departments, institutions and headquarters.

He directed that no unit of the EPCG should contract a loan without first obtaining permission and approval from the appropriate Church authorities.

“Learning from our debt experiences going forward, any department and institution of the Church, including the headquarters, seeking loan for any purpose should seek for permission and approval before resorting to any loan of any sort,” he said.

He also called for greater scrutiny of delays in servicing debts and other financial commitments.

“In the same vein, delays or reasons for delayed payment of debt and committed agreement should be explained to guide at the quarterly meeting before it piles up,” he added.

The directive effectively places borrowing and debt accumulation under tighter central oversight, with departments and institutions expected to justify their financing needs before taking on new liabilities.

Beyond clearing debt

For Rev. Dr. Agbeko, resolving the Church's debt problem is only one part of a larger challenge: building a financial system that can sustain its mission without excessive dependence on offerings and voluntary contributions.

He urged the EPCG to pursue what he described as “financial liberation” through viable and properly governed investments capable of generating sustainable income.

“The long-term sustainability and effectiveness of our Church's ministry depend upon a strong and diversified financial base,” he said.

He acknowledged the importance of tithes, offerings and voluntary contributions but argued that these should be complemented by income generated from investments.

“While tithes, offering and voluntary contribution remain vital expressions of Christian stewardship, the Church must intentionally pursue financial liberation by investing in viable, ethical and well-governed economic ventures that generate sustainable income,” he said.

He said a stronger investment base would help reduce the Church's dependence on voluntary giving and provide more reliable resources for its activities.

According to him, such income could support evangelisation, discipleship, infrastructure development, social interventions and other ministry priorities.

The EPCG has historically invested in several sectors, including agriculture, hospitality, education, publishing and health-related ventures.

However, Rev. Dr. Agbeko acknowledged that some of these investments had not produced the returns expected of them.

“Yet many of these ventures have not yielded the desired result,” he said.

He argued that the Church must become more deliberate about creating investments that generate measurable returns.

“I have always believed that we should earn by right, not by grace alone, nor by chance,” he said.

Primal Water becomes part of the financial strategy

One of the ventures highlighted by the outgoing Moderator is the Church's Primal Water project.

He described the water business as “very viable” and disclosed that it currently generates at least GH¢10,000 in revenue for the Church.

He said the project has the potential to double its contribution if sales and its customer base increase.

“The next stage we are aspiring [to] is the bottling of the Primal Water,” he said.

But he warned the Church against allowing external investors to acquire interests that could eventually weaken its control over the project.

He called for a policy to protect the venture from what he described as “investment hawks” seeking to buy shares for their own interests.

The warning formed part of his broader argument that Church investments must remain properly governed and aligned with the institution's long-term financial objectives.

“If the EP Church will continue to make verifiable gains to support the financial and economic resources of the Church besides congregational collection, this water project must be tightly secured and closely monitored,” he said.

Incoming administration inherits financial reforms

Rev. Dr. Agbeko's final address therefore leaves the incoming administration not only with a record of debt repayments, but also a set of financial controls and investment priorities to maintain.

The EPCG has already begun positioning itself around a broader strategic plan focused on strengthening its ministry and institutional operations. The Church's own website describes its mission as propagating the Gospel holistically while empowering members spiritually, materially and socio-culturally.

The incoming leadership will consequently have to balance debt servicing with investment, infrastructure and the Church's wider ministry obligations.

Rev. Dr. Agbeko's insistence on prior approval for new loans is also likely to become an important test of how the Church manages financial autonomy across its departments and institutions.

He said the lessons from the debt accumulated before his administration must not be lost.

The objective, he argued, should be to ensure that future financial commitments are properly assessed, approved and serviced before they become burdens on the Church.

The EPCG has continued to emphasise integrity, accountability and responsible leadership in its ministry. In a recent Church leadership retreat, presbyters were similarly urged to ensure that integrity extended to financial management and accountability.

For the outgoing Moderator, the financial reforms are ultimately about protecting the Church's ability to fund its religious and social mission.

The challenge now falls on the incoming leadership to preserve the gains made in debt reduction while building a more sustainable financial base for the EPCG.