President John Dramani Mahama has appointed Dr David Kofi Mawuvi Wuaku as Administrator of the Ghana Sports Fund, placing a seasoned banking and financial professional at the helm of a new initiative expected to transform sports funding in the country.

Dr Wuaku brings more than 30 years of experience in banking and financial management to the role, which many stakeholders view as a turning point for addressing the long-standing funding challenges in Ghana’s sports sector.

Fresh approach to sports funding

For decades, the Ministry of Sports and Recreation has relied largely on central government allocations and sporadic philanthropic support. Even where budgetary allocations were consistent, they often fell short of the sector’s growing needs, with capital-intensive projects frequently stalled due to funding gaps.

According to the Ghana Sports Fund Bill, 2025, this ad hoc approach has constrained Ghana’s ability to harness sports as a driver of sustainable development. The Fund is intended to provide a coordinated and professionally managed financing mechanism.

As Administrator, Dr Wuaku will head the Fund’s secretariat, oversee day-to-day operations, implement decisions of the governing Board, and ensure accountability in the mobilisation and utilisation of resources.

Commitment to transparency and accountability

Speaking on his appointment, Dr Wuaku pledged to discharge his mandate with the highest standards of transparency and accountability.

“This is not just about managing funds—it’s about restoring hope to our athletes, our coaches, and everyone who believes in the transformative power of sports,” he said.

Drawing on his extensive background in finance, he stressed the need for strong systems and clear processes.

“Ghanaians deserve to see how their resources are being used to develop sports. We will establish clear processes, regular reporting mechanisms, and open channels of communication with all stakeholders.”

He expressed confidence that with proper financial management and strategic investment, Ghana could reclaim its status as a leading sporting nation in Africa.

“We have the talent. We have the passion. What we’ve lacked is the sustainable funding structure. That changes now,” he stated.

Dr Wuaku also outlined plans to ensure the Fund benefits athletes at all levels, from grassroots programmes to elite competitors.

“From grassroots programmes in our communities to elite athletes competing on the world stage, everyone will have the opportunity to benefit from this Fund. We’re building a system that works for all Ghanaians, not just a privileged few.”

Multiple revenue streams

The Sports Fund will draw revenue from a range of sources, including parliamentary allocations, special sports lotteries, 10 per cent of sports betting taxes collected by the Gaming Commission, five per cent of gate proceeds from sporting events, two per cent of sponsorship proceeds, and taxes on commercial sports vendors, among others.

Funds not immediately required may be invested in approved financial instruments and ventures, in line with the Public Financial Management Act.

Areas of support

The Fund is expected to finance sports infrastructure for training, tournament organisation, and participation in international competitions. It will also support grassroots and school sports, capacity building, research and innovation, and welfare packages for retired, injured, and incapacitated athletes.

In the memorandum accompanying the Bill, the Minister responsible for Sports and Recreation, Kofi Iddie Adams, noted that the global sports economy is valued at about US$800 billion and projected to reach US$1 trillion within three years, underscoring the need for Ghana to position itself strategically.

Governance and oversight

Dr Wuaku will work with a 15-member Board appointed by the President, comprising representatives from key ministries and sports institutions, including the National Sports Authority, the Ghana Olympic Committee, and retired professional athletes.

The Board will meet quarterly, with administrative expenses capped at two per cent of the Fund’s total resources. The Bill also mandates the establishment of an Internal Audit Unit, annual reporting, and external audits to ensure accountability.

Looking ahead

Dr Wuaku’s appointment comes amid heightened scrutiny of sports administration in Ghana, particularly concerns about fragmented fundraising and weak accountability structures.

The Sports Fund seeks to address these gaps by providing sustainable, transparent funding while reducing over-reliance on central government support.

“I see this appointment as a call to national service,” Dr Wuaku said. “Sports has the power to unite us, to inspire our youth, and to put Ghana on the global map. I’m honoured to play a role in making that vision a reality.”

The Ghana Sports Fund Bill, 2025, has been presented to Parliament for consideration and passage.