GhanaFA

FA needs to increase its revenue - President

12 years ago
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President of the Ghana Football Association says the revenue streams of the sport body needs an urgent increment as the GFA sets out to pursue its development agenda for the next four years.

Though a positive result of excess income over expenditure was revealed in the financial report for the period June 30, 2010 as presented to Congress by the Auditor General, Kwesi Nyantakyi says the GFA must pursue an aggressive strategy to improve and boost the present statement.

The GFA obtained revenue of GHS 13,725,459.94 million, while the expenses amounted to GHS 12,950,643.76 million, leading to an overall result of GHS 774,816.18.

The accounts show a positive result, reflecting the financial success of the Ghana Football Association though lower than the overall result of GHS 1,240,686.04 in 2009.

But Nyantakyi explains that lots can be done to address the situation.

"The financial statements show income over expenditure. But it is worrying considering the figures. We are doing lots of funding by ourselves," the GFA President told Congress on Friday.

"It is clear from the accounts that we need to work hard and bring in more cash.The game is expensive to run but to continuously achieve success means investing in our game.

"We have to be aggressive and address the financial issues of the Association."

The GFA Financial Report was produced in accordance the Financial Regulations of Ghana and the Regulations of the GFA.