GCB Bank entrusted with statutory ‘Sports Fund’

By Ernest Bako WUBONTO

GCB Bank PLC has been officially designated as the collecting bank for the ‘Ghana Sports Fund,’ established under Act 1159, to create a sustainable financial bedrock for the future of sports.

Under this partnership with the Ministry of Sports and Recreation, GCB Bank will mobilise sustainable financing for the development of sports in the country.

The deal was solidified during a high-level meeting between GCB leadership and the Ministry for Sports and Recreation, led by the sector minister, Kofi Iddie Adams, in Accra.

Sustaining the future of athletics

The Sports Fund is more than just a savings account, it is a mandated mechanism designed to professionalise and expand the nation’s sporting landscape.

Key areas of focus include: building and maintaining world-class sporting infrastructure, ensuring athletes’ welfare by supporting the development and well-being of local talent.

Others are supporting grassroots programmes through the promotion of youth sports and regional competitions, as well as ensuring international participation of Ghanaian athletes and sporting personnel on the global stage.

The Sports Minister, Kofi Iddie Adams, expressed high confidence in the bank’s ability to manage these critical resources, emphasising GCB’s position and track record in the financial sector over the decades.

“We welcome this relationship and we believe that it is a relationship built out of love for the growth of sports and the betterment of the two institutions. We believe that we have a genuine partner that will help us grow the fund through collections and through investment tools that will support us,” he said.

GCB Bank’s appointment as the collecting bank comes from its long-standing experience as a trusted financial institution for key state activities and government-led initiatives.

Over the years, the state-owned bank has supported the collection of statutory payments, public sector levies and other national funds by leveraging its extensive branch network and secure digital banking platforms.

Executive Head, Corporate Banking at GCB Bank, Linus Kumi, speaking on behalf of the Managing Director, Farihan Alhassan, reaffirmed the bank’s commitment and continuous support to the Ghana Sports Fund.

“We want to assure the ministry that we will be the bank that will hold you through all the phases; and that this fund will not be the type that will just be on our record books. We believe that together, through this partnership, we can grow and sustain sports in Ghana,” he said.

He added that the bank will deploy its robust collection systems, digital channels and nationwide branch network to ensure efficient, transparent and accessible contributions to the fund while upholding the highest standards of accountability and service delivery.

The courtesy call delegation was led by GCB’s Chief of Staff, Abraham Ferguson Yahaya, who highlighted the bank’s strong institutional commitment to the partnership and the successful roll-out of the Sports Fund.

GCB Bank is a leading player in Ghana’s banking industry with 184 branches, 340 ATMs, complemented by various innovative digital solutions.

With the largest branch network in Ghana, GCB Bank is closely associated with hundreds of communities where the bank not only offers day-to-day financial services but also provides the needed social support.

The bank’s relationship with its clients and other stakeholders is delivered on a platform of trust, support and collaboration.

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