DR DAVID KOFI MAWUVI WUAKU APPOINTED AS ADMINISTRATOR OF GHANA SPORTS FUND
Veteran banker to lead new era of sustainable, transparent sports financing
President John Dramani Mahama has appointed Dr David Kofi Mawuvi Wuaku as the Administrator of the Ghana Sports Fund, a key position expected to revolutionise how sports are funded in the country.
Dr Wuaku, a seasoned banking and finance expert with over 30 years of experience, is tasked with implementing a coordinated and transparent funding framework that moves Ghana’s sports sector away from unreliable, ad hoc financing.
The Ghana Sports Fund, backed by the Sports Fund Bill 2025, is designed to address chronic underfunding that has plagued Ghanaian sports for decades. Until now, funding primarily depended on central government allocations and inconsistent sponsorships, often delaying infrastructure development and athlete support.
As Administrator, Dr Wuaku will lead the Fund’s secretariat, execute Board decisions, and ensure the transparent mobilisation and utilisation of resources.
“This is not just about managing funds it’s about restoring hope to our athletes, our coaches, and everyone who believes in the transformative power of sports,” Dr Wuaku stated.
He pledged a transparent, accountable approach, promising regular reporting, stakeholder engagement, and prudent financial management.
The Fund will be capitalised through a blend of revenue sources, including:
- Parliamentary allocations
- Proceeds from special sports lotteries
- 10% of sports betting taxes (via the Gaming Commission)
- 5% of gate proceeds from sporting events
- 2% of sponsorship income
- Levies on commercial sports vendors
Unused funds may be invested under the Public Financial Management Act.
Dr Wuaku outlined that the Fund will benefit both grassroots and elite athletes, cover sports infrastructure, tournament participation, school and community sports, capacity building, innovation, and welfare for retired or injured athletes.
“We’re building a system that works for all Ghanaians, not just a privileged few,” he said.
The Administrator will work alongside a 15-member Board comprising representatives from key ministries, the National Sports Authority, the Ghana Olympic Committee, and retired athletes.
The Fund’s operations will be closely monitored through an Internal Audit Unit, annual reporting, and external audits, with administrative expenses capped at 2% of total resources.
The Sports Minister, Kofi Iddie Adams, highlighted the global opportunity, citing the US$800 billion global sports economy, projected to reach US$1 trillion in three years.
Dr Wuaku’s appointment signals a new direction in Ghana’s sports development strategy—one that prioritises professional financial oversight, strategic investment, and reduced reliance on government bailouts.
“Sports has the power to unite us, to inspire our youth, and to put Ghana on the global map,” Dr Wuaku said. “I’m honoured to play a role in making that vision a reality.”
Source:NKONKONSA.com
