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I find it difficult to understand GFA's over GH¢11million debt - Oloboi Commodore

By Vincent Ashitey
Oloboi Commodore
Oloboi Commodore
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General Manager of Great Olympics Oloboi Commodore says he is flabbergasted that GFA are in debt of over GH¢11million.

The current GFA administration which is Kurt Okraku's led administration last week disclosed to club executives that they inherited a debt of over GH¢11million.

In a document titled “Legacy Debts” prepared and presented to clubs by the current GFA administration revealed the association is in debt of GHS 11 million.

The legacy debt, divided into dollar and cedi components, is made up of $470,700.00 (GHS 2,730,060) and GHS 10,079,440.00.

The GFA also mentioned West Head, an agency that claimed to have brokered the deal between the FA and GNPC leading to a court battle, as one of the institutions they owe. The amount to be paid as the commission is $1.4 million.

For the current broadcast rights holder, StarTimes, the amount owed them was left blank.

A further breakdown of the debt reveals the GFA owes debt to one Kizito Beyuo ($35,000), the arbitrator of the GFA and GLO impasse; former Black Stars coach, Kwasi Appiah ($180,000); two vehicles purchased in 2017 ($100,000); the land on which the GFA secretariat is cited (GHS 450,000); and many others.

READ ALSO: I never said CK Akonnor did not see me as Black Stars material - Celta Vigo's Yaw Yeboah

It is unclear why the debt owed Kwesi Appiah is included as a liability of the GFA when the Ministry of Youth and Sports or a sponsor (GNPC in the past) pays the Black Stars coaches.

Also conspicuously missing are the arrears owed the rest of Kwesi Appiah’s backroom staff (Ibrahim Tanko, Stephen Appiah, Richard Kingson) who are all owed 3 months salaries and bonuses for two games.

Two travel and tour companies, Travel Matters and Kenpong Travel and Tours, are owed $293,000 and GHS 26,000 respectively for providing airline services to national teams.

The document also had GH¢ 1.7 million and GH¢ 480,000 owed referees and match Commissioners respectively, with only GH¢ 300,000 and GH¢ 16,510 paid to these two bodies.

T.T Ustay, a company engaged to work on the FIFA Goal project at the Ghanaman Soccer Centre of Excellence is owed GH¢ 7.6 million including interest, whilst Care Freight Shipping Agency is owed a little over GH¢ 151,000.

The GFA also owes a company called Henqook, for the purchase of a TV set for the association’s boardroom.

Find the full document below:

However, Oloboi Commodore has noted that if claiming that to be in debt of over GH¢ 11million how come they never posted in their books before.

Speaking to Asempa FM, he said: "I find it difficult to understand that the GFA is in debt of over GH¢11million."

"I want to see it in our books to believe. There are several accounts of the GFA with credit balances."

"This debt is there and most of us who make the GFA membership aren't aware."