Ghana Reaffirms Commitment to Sports Fund via Lottery and Taxes
Ghana’s government is reaffirming its commitment to establish a sports fund, fueled by revenue from taxes and a sports lottery. Minister of Sports and Recreation, Kofi Adams, emphasized the importance of this initiative.
Funding Sources for Sports Development
Kofi Adams explained that the government plans to introduce a sports lottery. This lottery will serve as a key avenue for raising funds to support sports development projects.
Additionally, a percentage of the revenue generated from the betting tax will also be allocated to the sports fund.
Rationale Behind the Sports Fund
Speaking with Asempa FM, Adams highlighted the need for a dedicated sports fund, similar to those for education and health. He stated that investing in sports can lead to a reduction in diseases by promoting physical activity.
Adams, speaking in Twi, said:
“We established GETFund for education and the Health Fund to support health issues during President Rawlings’ era. We must recognize the importance of sports. Investing in sports can reduce diseases by promoting physical exercises and other activities.”
He added:
“I believe the time has come for this to be done. A percentage of the bet stake tax should be allocated to the sports fund. We will introduce a sports lottery.”
Finance Minister’s Assurance on Betting Tax
In related news, Minister of Finance, Dr. Cassiel Ato Forson, has assured that removing the betting tax would be among his initial actions upon assuming office.
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