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
-
Samson’s Take: Arrogance of Power, Shameful Policing
6 hours -
Burnley score late to draw with Manchester United at Old Trafford
8 hours -
Bayer Leverkusen extend unbeaten run to 46 games after draw with Stuttgart
8 hours -
Chelsea come from two goals down to draw against Aston Villa
8 hours -
Andre Ayew scores in Le Havre’s 3-3 draw with PSG
8 hours -
GPL 2023/24: Kotoko draw with Medeama; Samartex go 7 points clear of Nations FC
9 hours -
Mahama cuts sod for construction of new multipurpose Jakpa palace in Damongo
9 hours -
NSS management assists Papao fire victims
9 hours -
EXPLAINER: Will dumsor end soon?
10 hours -
IMANI Africa takes on EC, accuses it of lying and publishing half truths
11 hours -
Manasseh Azure calls for investigation and prosecution of those responsible for GRA/SML contract
11 hours -
Kwesi Atuahene: Ghana’s health capital depends on HealthTech – Africa Center for Digital Transformation
11 hours -
13 signs your wife is planning on leaving you and you have no idea
11 hours -
IMANI Africa: Ghana’s EC’s dangerous and pathological conduct
12 hours -
If I speak there will be fire – Salah on Klopp row
12 hours