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Sports News of Tuesday, 18 February 2014

Source: Ghanasportsonline.com

Mahama: Pay Black Stars in Ghana Cedis

The players in the various National Football teams, including the Black Stars, will from now receive their match winning bonuses in Ghana Cedis instead of the US Dollar expected to be paid into local accounts according to a new government directive, Ghanasportsonline.com has gathered.

Footballers in the national teams, especially the Black Stars, have always been paid in US Dollar rates as their winning bonuses and other monetary rewards, but President John Mahama has instructed the Ghana Football Association to send notice to all its stakeholders about the new directive.

Ghanasportsonline.com sources indicate that the new exchange control rules imposed by the Bank of Ghana and endorsed by the Government of Ghana has forced the Flagstaff House to issue a directive that the module will apply to the Black Star players who hitherto had always received their bonuses in Dollars.

The information, Ghanasportsonline.com understands, was communicated to the Ghana Football Association and the Ministry for Youth and Sports when authorities of the two bodies presented the World Cup 2014 budget to the President at the Flagstaff House this week.

The directive goes on to state that all the foreign based footballers will need to open and operate an account in Ghana through which their bonuses will be paid into, and no more in Dollars.

This is one of the measures the Bank of Ghana, together with the Finance Ministry, is instituting to help stabilize the Ghana cedi, which has been depreciating at an alarming rate over the last few months.

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