JUST IN: GFA Exco Approves 3 Developmental Funds

The Executive Council of the Ghana Football Association (GFA) has approved three developmental funds for the federation.

GFA Exco Approves 3 Developmental Funds
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The funds among others are set up to help the GFA improve in the areas concerned.

They include the Central Fund, Medical Fund and the World Cup Benefit Fund.

The Central Fund, according to an FA statement, was set up to support activities of Juvenile and Women’s football, Regional Football Federations (RFA’s) and the Medical Fund.

This fund, it said, was important due to the pressing need for a dedicated source of funding for the aforementioned activities.

Sources for the funds will be 10 per cent of all net statutory payments to the GFA and all net revenues accruing to the GFA from the participation of national teams in International assignments, two per cent of revenue generated from Football Development Fund (FDF) via international transfers and revenues from corporate sponsorship

The Medical Fund was set up to cater for serious injuries to players in the Premier, Division One and Elite Women’s division with sources as the Central Fund and proceeds from all FA Cup matches. Injuries such as bones, cartilage and ligaments shall not be solely left to the responsibility of clubs.

The Council, according to the statement, looks forward to securing partnerships with medical institutions and experts in ensuring that players especially, operate at optimum level at all times and are also guaranteed of quality medical care where the need arises.

“The GFA is also looking to build the capacity of medical personnel at all clubs. This shall be achieved through retraining and certification of all practitioners while also enhancing the credentials of prospective practitioners.”

The Special World Cup Benefit Fund will enable key stakeholders benefit from World Cup participation for development projects.

For this purpose, 30 per cent of net revenue accruing to the GFA from World Cup participation of the Black Stars shall be channeled to key stakeholders in the following ratio: 60 per cent to Premier, Division One League (DOL) and Women’s Premier League (WPL) players and 10 per cent to Juvenile Football: 10 per cent to RFAs, 10 per cent to PFAG, five per cent to the Ghana League Clubs Association GHALCA and five per cent to the Coaches Association.

The funds will help address pertinent issues and challenging areas of operation of stakeholders in the industry, giving an attestation to the FA’s mission of igniting passion and creating wealth for all in football.

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