HFC Bank has made a major sponsorship intervention for the ailing schools and colleges athletics competition with a GHC 125,000 for the next year.

The competition which is supposed to be organized on a annual basis by the Ghana Education Service (GES), has in recent times, become a biennial event due to financial constraints.

At a brief ceremony to announce the package, Mr Robert le Hunt, said his outfit has identified Ghana as a ground with many potential world beaters in athletics.

"We see this as the first step in creating the equivalent of Edwin Moses, Usai n Bolt, Ato Boldon and the like here in Ghana."

"It is said that the promise of a good crop lies in the investment of the planting and nurturing of the seeds thus in the promise of athletics development in Ghana lies in investments at the school level to identify groom and develop potential for the national stage," he said.

Mr Le Hunt also confirmed that his outfit was willing to add to the figure depending on economic factors and possible future demands of the competition.   

Mr. Emmanuel Damenyah, Director in Charge of Physical Education who received the cheque on behalf o the Director General of the Ghana Education Service, gave an assurance of good use of the sponsorship.

"We want to express gratitude to HFC Bank who have come to rescue what is a great concept but suffering financially. We are glad that through this sponsorship we can regularly organise the competition so all the hidden talents in our schools so they can become great assets for the nation and enable us win laurels in the future," he added.

Assurance of tax cuts for sponsors of sports

Ghana's Youth and Sports Minister Nii Lante Vanderpuye who witnessed the signing of the agreement, encouraged more corporate support for sports.

"We urge companies in this effort to develop sports. Government cannot do all this alone and once

Nii Lante Vanderpuye also assured of his own efforts to monitor the effectiveness of the programmes that will be organized with the support HFC has extended so good use is made of it.

"This will be big encouragement to others who want to commit their Corporate Social Responsibility (CSR) to sports and recreational development in the country. People will be attracted to doing this when they are assured of the good use of the resources."

"Make sure to inform us at the end of the business year when you are filing your tax. We will give the recommendations to the Ghana Revenue Authority (GRA) so that what you are committing sports is granted as tax relief," he told the HFC team of executives.  

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