By Jibril Abdul Mumuni, GNA
Accra, Jan. 28, GNA – The Ministry of Sports and Recreation has appointed GCB Bank PLC as the primary collecting and transaction bank for the newly established Ghana Sports Fund.
The Fund was created by an Act of Parliament to provide sustainable financing for sports development in Ghana.
This was made known during a visit by delegation from GCB Bank, led by Mr Abraham Yahaya Ferguson, its Chief of Staff on Mr Kofi Adams, the Minister of Sport and Recreation in Accra.
The partnership, formalised after the inauguration of the Fund’s Board, signifies a major step towards operationalising the Fund.
Mr. Adams said the Fund required a robust financial architecture to thrive.
He praised GCB Bank for its proactive approach and proven commitment, noting that the Bank had shown interest even before the Sports Fund Bill was presented to Parliament.
Mr. Adams also acknowledged GCB Bank’s longstanding support for Ghanaian Sports, including past sponsorship of national teams such as the Black Satellites (U-20).
Speaking on behalf of Bank, Mr. Ferguson expressed the Bank’s commitment to being a “partner for life.”
He assured the Ministry that the Bank would use its 70 years of experience and digital infrastructure to ensure seamless collection, investment, and management of the Fund.
“We believe that together with a partnership that we intend to develop, we can grow it to sustain Sports in Ghana, and we will be there to give that support and advisory,” Mr. Ferguson said.
He emphasised that the Bank’s role would extend beyond mere custodianship to include expert advisory services for investment, aiming to grow the Fund beyond voluntary contributions and statutory inflows.
Professor Koryoe Anim-Wright, Chair of the Sports Fund Board, expressed the Board’s appreciation for the partnership.
She highlighted that a strong alliance with a financially sound institution like GCB was vital to meeting public expectations and ensuring the transparent and purposeful utilisation of all contributions.
Professor Anim-Wright said a strong partnership with GCB would allow the Fund to be able to meet the threshold that was needed to ensure the success of the Fund.
The collaboration is expected to provide a structured, accessible, and digital framework for Ghanaians both domestically and in the diaspora to contribute effortlessly to the Sports Fund.
GNA
Kenneth Odeng Adade
