Minister of Sports and Recreation Kofi Adams has proposed allocating a portion of the revenue generated from the betting tax to a dedicated sports fund. Apexnewsgh reports
This fund would focus on sustainable sports growth, including infrastructure development, athlete support, and overall sports management.
According to Adams, channeling a percentage of the betting tax into this fund is crucial for the sector’s development. He also plans to introduce a sports lottery as an additional revenue source. “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,” Adams stated.
The minister drew inspiration from past 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 recognize the importance of sports. Investing in sports can reduce diseases by promoting physical exercise and other activities,” he explained.
This proposal comes amid growing demands from sports stakeholders for increased funding to improve infrastructure and talent development.
However, Finance Minister Dr. Cassiel Ato Forson has indicated that the betting tax will be scrapped in the upcoming budget presentation to Parliament, sparking debate on alternative ways to secure financing for the sports sector.
Source: Apexnewsgh.com
