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Percentage of bet stake tax should be allocated to sports fund- Kofi Adams
The Minister of Sports and Recreation, Kofi Adams, has proposed that revenue generated from the betting tax be allocated to a dedicated sports fund to enhance the country’s sporting sector.
According to Mr. Adams, earmarking a percentage of the tax for this initiative is crucial for the sustainable growth and development of sports in Ghana.
He believes that such a move would provide consistent financial support for sports infrastructure, athlete development, and overall sports management.
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Speaking on Asempa FM’s Ultimate Sports Show, the Buem constituency MP also revealed plans to introduce a sports lottery as an additional revenue stream to boost funding for the sector.
“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,” Mr. Adams stated.
He further emphasised the necessity of a structured sports fund, drawing comparisons to past government initiatives such as the Ghana Education Trust Fund (GETFund) and the Health Fund established under former President Jerry John Rawlings.
“We established GETFund for education and the Health Fund to support health issues during President Rawlings’ era. We must recognise the importance of sports. Investing in sports can reduce diseases by promoting physical exercise and other activities,” he explained.
The proposal comes amid calls from various stakeholders for increased financial backing to improve sports infrastructure and talent development. Many in the sports fraternity have long advocated for a sustainable funding model to address challenges within the sector.
However, Mr. Adams’ suggestion contrasts with the stance of the current administration. Finance Minister Dr. Cassiel Ato Forson has indicated that the betting tax will be scrapped in the upcoming budget presentation to Parliament. This has sparked discussions on the potential impact of the removal of the tax on sports funding and alternative ways to secure financing for the sector.
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