Mahama Appoints Dr. Wuaku as Administrator of Ghana Sports Fund

President John Dramani Mahama has appointed Dr. David Kofi Mawuvi Wuaku as Administrator of the Ghana Sports Fund, entrusting the leadership of the new initiative to a seasoned banking and financial expert expected to reshape sports financing in Ghana.

With over three decades of experience in banking and financial management, Dr. Wuaku’s appointment is widely seen as a significant step toward resolving the persistent funding challenges that have plagued Ghana’s sports sector.

A new direction for sports financing

For many years, funding for sports under the Ministry of Sports and Recreation has depended largely on central government allocations and occasional philanthropic contributions. Even when allocations were made, they often proved inadequate, leaving many capital-intensive projects incomplete due to financing shortfalls.

The Ghana Sports Fund Bill, 2025, acknowledges that this fragmented approach has limited the country’s ability to leverage sports as a tool for sustainable development. The establishment of the Fund is therefore aimed at creating a coordinated, professionally managed financing framework.

As Administrator, Dr. Wuaku will lead the Fund’s secretariat, manage its daily operations, implement decisions of the governing Board, and ensure transparency and accountability in the mobilisation and use of funds.

Emphasis on transparency and accountability

Reacting to his appointment, Dr. Wuaku pledged to uphold the highest standards of transparency and accountability in carrying out his mandate.

“This is not just about managing funds; it is about restoring hope to our athletes, coaches, and all who believe in the transformative power of sports,” he said.

Drawing on his extensive financial background, he stressed the importance of robust systems and clear operational processes.

“Ghanaians deserve to know how resources meant for sports development are being utilised. We will put in place clear procedures, regular reporting structures, and open lines of communication with all stakeholders.”

Dr. Wuaku expressed confidence that prudent financial management and strategic investment would enable Ghana to reclaim its position as a leading sporting nation on the continent.

“We have the talent and the passion. What has been missing is a sustainable funding structure. That changes now,” he noted.

He also outlined plans to ensure that the Fund supports athletes at all levels of development.

“From grassroots initiatives in our communities to elite athletes competing on the global stage, the Fund will be accessible to all. We are building a system that benefits every Ghanaian, not just a select few.”

Diverse revenue sources

The Ghana Sports Fund will be financed through multiple revenue streams, including parliamentary allocations, special sports lotteries, 10 per cent of sports betting taxes collected by the Gaming Commission, five per cent of gate proceeds from sporting events, two per cent of sponsorship revenues, and taxes on commercial sports vendors, among others.

Funds not immediately required will be invested in approved financial instruments and ventures, in accordance with the Public Financial Management Act.

Priority areas of support

The Fund is expected to finance the development of sports infrastructure, support training programmes, facilitate tournament organisation, and fund participation in international competitions. It will also invest in grassroots and school sports, capacity building, research and innovation, and welfare packages for retired, injured, and incapacitated athletes.

In the memorandum accompanying the Bill, the Minister for Sports and Recreation, Kofi Iddie Adams, highlighted that the global sports economy is currently valued at approximately US$800 billion and is projected to reach US$1 trillion within three years, underscoring the importance of Ghana positioning itself strategically.

Governance and oversight

Dr. Wuaku will work alongside a 15-member Board appointed by the President, comprising representatives from key ministries and sports bodies, including the National Sports Authority, the Ghana Olympic Committee, and retired professional athletes.

The Board is expected to meet quarterly, with administrative costs capped at two per cent of the Fund’s total resources. The Bill also provides for the establishment of an Internal Audit Unit, annual reporting requirements, and external audits to reinforce accountability.

Looking ahead

Dr. Wuaku’s appointment comes at a time of increased scrutiny of sports administration in Ghana, amid concerns about fragmented fundraising efforts and weak accountability systems.

The Ghana Sports Fund aims to address these shortcomings by offering a sustainable and transparent funding model while reducing dependence on central government allocations.

“I see this appointment as a call to national service,” Dr. Wuaku said. “Sports has the power to unite us, inspire our youth, and project Ghana onto the global stage. I am honoured to contribute to making that vision a reality.”

The Ghana Sports Fund Bill, 2025, has since been laid before Parliament for consideration and passage.