Classified documents available to Onua Sports and Maakye teams have revealed government has borrowed in excess of $500million for the preparation towards the African Games penciled to be hosted by Ghana.
The government, has since 2021 been taking millions of dollars of loans from CAL Bank PLC towards infrastructure development for the competition.
According to estimation made by government prior to bidding for the hosting rights, an amount of $38million was needed to complete all infrastructure for the event.
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However, after applying for four different sets of loans from the bank, government borrowed in excess of $500million in total including a $16million for renovation of the University of Ghana hostels to house participants for the competition.
Meanwhile, the 2022 end of year report from the Parliamentary Select Committee on Sports indicate government is seeking postponement of the event to April 2024 due to facility challenges.
The Youth and Sports ministry together with the Local Organising Committee have defaulted in completing the structures on time to host the games.
According to the report, they are citing the existence of an impasse as the cause of the delay in the project necessitating the call for postponement.
Captain Smart, together with the Sports team Tuesday, February 21, 2023, espoused in detail, how the loans were taken.
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By Felix Anim-Appau|Onuaonline.com
