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
-
Boxing: Abdul Ahmed wins WBA Africa Cruiserwight title after dispatching Nigeria’s Eradeye
1 minute -
Nearly 2,000 displaced, schools damaged as windstorm wreaks havoc in Gushegu
20 minutes -
Ghana’s Derrick Kohn to work under Marie-Louise Eta as she becomes first woman to coach men’s Bundesliga team
24 minutes -
Accra Open Championships conclude with strong performances ahead of African Championships
32 minutes -
Ghana to begin camping with 12 athletes after Accra Open Championships – Bawa Fuseni
53 minutes -
Anthony Joshua declines showdown with Tyson Fury but admits they ‘probably’ clash next
1 hour -
Tyson Fury dominates Makhmudov, calls out Joshua next
1 hour -
I have supported highway authority financially to fix roads in my constituency – A Plus
3 hours -
US, Iran fail to reach peace agreement after marathon talks in Pakistan
3 hours -
ECG kicks off Phase Two of transformer upgrades at Lashibi; brief outages expected
3 hours -
Port crises loom as 11,000 drivers threaten four-day strike
4 hours -
A source of excellence across generations – Vice President Opoku-Agyemang lauds Mfantsipim
5 hours -
(Photos) Mfantsipim School launches historic 150th anniversary
6 hours -
Knights and Ladies of Marshall group backs Catholic Bishops’ stance on anti-LGBTQ+
6 hours -
Bright Simons: All the Filla in the Ibrahim Mahama/E&P – Gold Fields Saga
7 hours