Government has approved plans to introduce a Sports Levy as the main source of revenue for the soon-to-be-established Sports Development Fund, according to Ghana Olympic Committee Treasurer Evans Yeboah.
Speaking to JoySports, Yeboah confirmed that the proposal, which recently received cabinet approval, will form a key component of a new financing model for national sports development.
The Fund, he explained, will also benefit from additional contributions from the Gaming Commission to ensure sustainable funding for sports activities and infrastructure.
“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,” Yeboah said.
The Ministry of Sports and Recreation has indicated that the bill establishing the Fund will be laid before Parliament when it reconvenes.
Once passed, the Sports Development Fund will become the ministry’s main financing vehicle for capital and operational projects across all national sports federations.
“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 next year, the Sports Fund will be launched,” Yeboah added.
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