Stanbic Bank Ghana has presented GH¢3 million to the Ministry of Finance (MoF) in support of the Black Stars ahead of the 2026 FIFA World Cup.
The donation, made yesterday, follows similar contributions from two other institutions towards supporting the national team.
The amount is structured into two tranches. The first tranche of GH¢1.5 million will serve as a participation fee for the team, while the second tranche of GH¢1.5 million will be released only if the Black Stars advance to the knockout stage of the tournament.
However, if the team fails to qualify for the knockout stage, the second tranche will be directed to a charity selected by the MoF Fund-Raising Committee in collaboration with the management of the Black Stars.
Speaking to the media after the presentation, the Chief Executive of Stanbic Bank Ghana, Mr Kwamina Asomaning, explained that the bank adopted the two-tranche structure to remain mindful of shareholders, especially after what he described as a difficult year for banks.
He added that the arrangement would also help the team plan effectively and avoid unnecessary expenditure.
Mr Asomaning noted that although the second tranche is earmarked for charity in the event of the team’s elimination, the bank would not oppose any decision by the team to redirect the funds to the Ghana Sports Fund.
He expressed optimism about the Black Stars’ chances of progressing in the tournament and wished the team success.
For his part, the Deputy Minister of Finance, Mr Thomas Nyarko Ampem, expressed gratitude to Stanbic Bank Ghana for the support and encouraged other financial institutions and organisations to emulate the gesture.
According to him, the ministry has already received GH¢250,000 from OmniBSIC Bank and US$500,000 from Newmont Ghana in support of the national team.
Moreover, Mr Ampem noted that Stanbic Bank’s donation is tax-deductible under the Income Tax Act. He added that the bank would be issued an acknowledgement letter to present to the Ghana Revenue Authority (GRA) when filing its tax returns.
BY BENJAMIN ARCTON-TETTEY
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