The Ghana Scholarships Authority (GSA) has rejected a media report claiming that the University of Memphis has terminated its scholarship agreement with the Authority over an alleged $4 million debt.

GSA Director-General Alex Kwaku Asafo-Agyei said the agreement, signed in April 2023, remains in force and provides for a five-year term ending in 2028, unless either party terminates it in accordance with the agreed terms.

He explained that the agreement requires either party seeking to terminate the arrangement to give the other party 90 days’ prior written notice.

According to him, no official or unofficial notice of termination has been served on the GSA, nor have there been discussions suggesting that the agreement has been terminated or is in the process of being terminated.

Mr Asafo-Agyei further disclosed that the government, through the Ministry of Finance and following advice from the GSA, released $500,000 to the University of Memphis on Wednesday, August 26, 2026, as part-payment towards outstanding financial arrears.

He said the GSA has also engaged the Ministry of Finance over the outstanding budgetary allocation needed to service the debt.

The GSA Director-General, who is currently in the United States for a scheduled engagement with the University of Memphis, said discussions are underway to develop a roadmap for settling the outstanding financial obligations under what he described as a legacy debt partly inherited from his predecessor.