Kwesi Nyantakyi: GFA Bails Out Gov’t To Tune of Gh¢36m

The Ghana FA boss has revealed that since 2006 his outfit has been able to finance the national teams up to the tune of Gh¢ 36 million without full government support.

The Ghana FA has on its own spent a whopping Gh¢36 million since 2006 on the various national teams, the president of the football regulatory body Kwesi Nyantakyi has revealed.

Speaking at the hearing of the Presidential Commission of Inquiry Tuesday, Nyantakyi said the body has been forced to look within to fund the teams because the government has not been forthcoming with money.

The Ghana FA boss stated that though the regulatory body had an agreement with the government to pay coaches, the State had so far relinquished that duty. He disclosed that the coaches of the other teams are owed $293,000 by the State. This he said, has forced the FA to settle the debt of which $117,000 has been cleared.

Nyantakyi said the GFA had been able to bailout the government to the tune of Gh¢ 36 m because it had raked in about Gh¢ 34.4 m from corporate bodies who account for 74% of all the revenue the GFA receives and monies from friendly matches which account for 17% of all the monies the GFA receives.

According to him, the GFA is still saddled with a deficit of over Gh¢ 1 m which it had financed through contributions of clubs, fines and other monies the FA received from player transfers.

He is due to reappear before the fact-finding Commission Wednesday.