A proposal to introduce a Sports Levy as the primary source of funding for the Sports Development Fund has received cabinet approval.
In September, President John Mahama gave his blessing to the proposal as cabinet firmed up the final details of the bill for the Sports Development Fund.
Treasurer to the Ghana Olympic Committee, Evans Yeboah, who confirmed the decision to JoySports, said ”There is an incoming Sports Levy that would go into the fund, there is a top-up from the Gaming Commission, so there is a revolving fund within that sector as well.”
Government sources have informed JoySports that the bill will be presented to Parliament when the House of Representatives resumes work.
Evans Yeboah also added that the government’s plan is to operationalize the Fund in 2026.
‘‘It got cabinet approval two weeks ago, and it is looking to get to parliament very soon. We are hoping that by the end of the year or by the end of Q1 ( first quarter) next year, the Sports Fund will be launched and that will go to assist all the national federations.’’ Evans Yeboah told JoySports.
When the bill is passed, the Fund will become the Ministry of Sports and Recreation’s primary source of revenue for financing capital and operational projects.
‘‘What is in it is that there is going to be a pool of funds that is reserved to assist national federations, especially the first priority, which is world championships, etc.,’’ he concluded.
Source: Joy News
