The Ghana Sports Fund held a press engagement with members of the Ghana Journalist Association, establishing a relationship between the two parties.

The briefing took place at the Ghana International Press Centre, on Wednesday, September 9, creating an enabling environment for the media to get insight into the establishment of the fund.

Board Chairperson of the GFS, Professor Koryoe Anim-Wright explained the role of the institution in helping the growth of sports in Ghana.

"We exist to do two things, provide sustainable funding for sports development and sports for development, and to do it in a way that's both transparent and accountable," she said.

"Every city that comes into the fund has a destination, and every city that leaves it has to be accounted for. Where is the money going to come from? One of the most important aspects of this Act is that it doesn't leave a sports fund depending on one single source.

"The fund draws from many sources, an annual allocation that will be approved by parliament, special sports lotteries that will be run with the NLA, National Lottery Authority, a share of fees from betting companies, a percentage of gained proceeds from sporting events, contributions that are tied to at-least transfers, sponsorship proceeds, bonuses, competition proceeds, certification fees, and even a share of beverage advertising costs."

The Administrator of the fund, Dr David Kofi Wuaku, mentioned the fund will identify such individuals and provide the assistance needed to improve their welfare.

"One of the things we are trying to do is to have a formal welfare system for all athletes. You know, most athletes are not on SNNIT. We are trying to come up with a scheme that will allow athletes in their active years to contribute and save towards their future," Dr Wuaku said.