Audio By Carbonatix
A former President of the Ghana Football Association, Kwesi Nyantakyi, has revealed that government stopped supporting Ghanaian clubs participating in CAF Inter-club competitions due the failure of Hearts of Oak and Asante Kotoko to refund monies released to them.
According to Nyantakyi, government set up a revolving fund in 2006 to support the primary expenditure of Ghanaian clubs that reached the group stages (money zone) of CAF's inter-club competitions, with an agreement that clubs would pay back the loaned amount once they received payment from CAF.
"That year, King Faisal, Berekum Chelsea, Asante Kotoko and Hearts of Oak competed in Africa. Kotoko and Hearts both made it to the group stages of the competition and accessed the money but refused to pay back the loan, collapsing the fund in the process," he said in an interview with Kings TV.
Ghanaian clubs have consistently struggle to fund their participation in the CAF inter-club competitions, with Asante Kotoko Chief Executive, Nana Yaw Amponsah recently calling on government to step in to help participating clubs.
Latest Stories
-
Gbintiri residents protest alleged diversion of 24-hour market project
9 minutes -
Justin Bieber headlines Coachella with nostalgia-fuelled set
11 minutes -
Ukraine and Russia accuse each other of hundreds of ceasefire violations
15 minutes -
Asha Bhosle: The sound of Bollywood dies aged 92
43 minutes -
Fire destroys section of 4-bedroom apartment at Tantra Hill
45 minutes -
Safe city: Unnoticeable protection
51 minutes -
North East Regional Police Commander raises alarm over burning of checkpoints
1 hour -
Free Primary Healthcare Programme set for take-off — Health Ministry confirms readiness
1 hour -
3 co-wives, 5 children perish in canoe disaster – Maritime Authority insists life jackets use mandatory for all water transport
2 hours -
Iran war lands ‘triple blow’ to flood-ravaged Sri Lankans
3 hours -
Gunmen kill at least 11 people at Afghanistan picnic spot
3 hours -
Woman, 25, in court for stealing baby at Bogoso
3 hours -
Trump unveils giant gold-accented victory arch design for US capital
3 hours -
We spoke to the man making viral Lego-style AI videos for Iran. Experts say it’s powerful propaganda
3 hours -
Hungarians vote in big numbers on whether to end Orbán rule and elect rival
3 hours