Officials of the Ghana Sports Fund have begun extensive stakeholder engagements aimed at building consensus and support for a new sustainable financing model for sports development in Ghana.

The engagement, held with journalists in Kumasi ahead of a courtesy call on the Asantehene, Otumfuo Nana Osei Tutu II, focused heavily on revenue mobilisation strategies, accountability systems, and implementation plans under the newly established Fund.

Administrator of the Ghana Sports Fund, Dr David Kofi Wuaku, explained that although the law establishing the Fund is already operational, implementation would be gradual and guided by extensive consultations with stakeholders across the sports industry.

He noted that the Fund intends to engage sporting federations, clubs, corporate institutions, and sports governing bodies to build understanding and cooperation around the contribution mechanisms provided under the law.

According to him, the strategy for this year would prioritise dialogue and partnership rather than aggressive enforcement.

“Every new law requires engagement and practical implementation. We have to work with the industry and build confidence gradually,” he stated.

Deputy Administrator Lawyer Simon Appiah Junior explained that sponsorship deductions form part of the Fund’s financing model, noting that a percentage of sponsorship proceeds within the sports industry would support the Fund.

Using Asante Kotoko SC as an example, he explained that where clubs secure sponsorship packages, a percentage would be allocated to the Fund to support national sports development, while the clubs themselves would continue to benefit substantially from the sponsorship arrangements.

He stressed that revenue assurance would be critical to the sustainability of the initiative and called for cooperation among all stakeholders.

“We all have to come together and put in place measures that will enable the system to work effectively,” he said.

Dr Wuaku also disclosed that the law allows the Fund to solicit donations from individuals, corporate organisations and development partners.

He revealed that the Fund is exploring innovative financing approaches, including digital contribution systems and broader public participation initiatives designed to encourage every Ghanaian to contribute to sports development.

Officials of the Fund further assured journalists that strict accountability and grievance redress mechanisms have been incorporated into the operational framework to ensure fairness and transparency.

According to them, clear procedures will soon be announced regarding applications, beneficiary selection, project approvals, and fund disbursement.

The officials emphasised that every expenditure under the Fund would be monitored and traceable to measurable outcomes, while regular reports would be submitted to Parliament, the media, and the public.

The media engagement also provided journalists the opportunity to ask questions relating to technical implementation processes, sponsorship deductions, investment management, athlete transfer contributions, and the long-term sustainability of the Ghana Sports Fund.