The Ghana Sports Fund will generate money through lotteries and gaming. Administrator David Kofi Wuaku announced this plan. The fund is part of the Sports Fund Act 2025. This law aims to provide lasting financial support for sports in Ghana. It seeks to ensure money is always available for sports growth.
The fund will receive money from several places. Government also contributes annually. A sports lottery is close to starting. This lottery is a partnership with the National Lottery Authority. All money from this lottery will directly support the Sports Fund. Gaming Commission profits will also contribute. These profit-sharing deals start next year. Beverages advertisements will also carry a charge. A percentage of these ad revenues goes to the fund. Discussions are happening now. They are setting up how to collect these contributions.
This new fund fits into Ghana's economic plans. Investing in sports can create jobs. It can also boost tourism. Government is looking for new income sources. Gaming and lotteries are growing sectors. Utilizing their profits helps public projects. This is similar to other public finance initiatives. Ghana's economy relies on diverse revenue. The Sports Fund Act 2025 helps this. It creates a stable financial base for sports.
Mr. Wuaku stated the legislation offers multiple funding avenues. "The Sports Fund Act 2025, Act 1159, provides a number of sources for the fund," he said. He explained the sports lottery is nearing launch. "We are almost in the closing stages to start playing sports lotto," he revealed. He also mentioned profit sharing from the Gaming Commission. These contributions show a commitment to structured funding. The goal is to make sports financing predictable.
The fund will also get money from player transfers. This includes both local and international deals. Proceeds from sporting facilities will also generate funds. Examples include stadiums and halls. Beyond official sources, the fund will seek other support. Corporate bodies can donate money. Faith-based groups can also contribute. Individuals nationwide are encouraged to give. Mechanisms are being created for all donations. The fund will be transparent and accountable. Systems are in place to prevent misuse. Management will track every donation. This ensures donor confidence. The fund was inaugurated in February. Early efforts focused on building internal systems. These structures will ensure proper fund management and allocation.