Kwesi Nyantakyi opens up on why govt stopped investing in Ghana clubs

Former president of the Ghana Football Association, Kwesi Nyantakyi, has disclosed that government stopped investing in Ghanaian clubs after Hearts of Oak and Asante Kotoko failed to reimburse monies borrowed them.

According to the GFA boss, government agreed to support Ghanaian clubs in CAF club competitions with a revolving fund where clubs will be given

Read full articlefunds to pay for their expenses but later pay back after they reach the money zone of the competition.

However, Nyantakyi explained that Hearts of Oak and Asante Kotoko failed to pay back the funds invested in them to allow the policy to continue.

“Osafo Marfo set up a revolving fund to help clubs going to Africa with payment of flights and accommodation. So, in case you get to the money zone then you refund the money, if you fail to qualify, it becomes governments debt,” Nyantakyi stated in an interview with KINGS TVGH SPORTS.

He added, “that year Berekum Arsenal and King Faisal competed in the Confederations Cup while Hearts and Kotoko went to the Champions League. Berekum and Faisal failed to reach the money zone but Hearts and Kotoko reached the money zone.”

“The monies given to Hearts and Kotoko were never refunded. They should have returned the money for it to revolve the next season but they failed. So this was one of the ways government helped,” the former GFA boss said.

JNA/FNOQ