Wuaku calls for patient public capital to unlock private investment in African sports

The Ghana Sports Fund is positioning public sports financing as a potential catalyst for attracting private investment into football and the wider sports economy, Administrator Dr David Kofi Wuaku has said.

He argues that government-backed financing must help address the early-stage risks of developing athletes, grassroots programmes and sports infrastructure before private investors can confidently pursue commercial opportunities.

Speaking at the Africa Football Business Summit 2026 in Accra, Dr Wuaku said investors need more than promises of profitability. They require credible projects, strong governance, transparent financial records and confidence that their investments will retain value.

He identified fear of the unknown and insufficient demonstration of government leadership in sports development as major barriers to institutional investment.

Under the financing framework he outlined, government and statutory sports funds would support grassroots development, athlete welfare and facilities, while commercial investors could participate in broadcasting, sports technology, sponsorships and professionally managed clubs.

He described this as a model in which patient public capital absorbs early-stage risks and helps establish the conditions for private investment to follow.

Dr Wuaku also identified development finance institutions as potential partners for multipurpose facilities and public-private partnerships, while diaspora investors could support academies, club ownership and appropriately regulated investment vehicles.

Pension funds, he said, could eventually consider income-generating sports infrastructure and pooled investment arrangements, although their participation would depend on suitable investment structures and regulatory conditions.

Corporates and sponsors were identified as more immediate potential partners for leagues, broadcasting and community programmes.

The Administrator stressed that club licensing, audited accounts and professional management would be critical to attracting investors, particularly private equity firms that require clear governance arrangements and credible exit options.

The Ghana Sports Fund was established under the Ghana Sports Fund Act, 2025 (Act 1159), to provide a framework for sustainable sports financing.

Dr Wuaku said a stronger legal framework, bold government policies and investor education were necessary to build confidence in the sector.

His proposed approach places the Fund within a broader financing ecosystem rather than treating public funding as the sole source of support for sports development.

The central test will be whether the framework can translate into credible, investable projects that generate measurable financial and social returns.

The keynote sets out the financing model, but does not establish that the proposed investments or partnerships have already been secured. Enditem