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.
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