The fund which will be formally launched in March, is meant to ease the financial burdens of former footballers who find their selves in distress.
GFA President Kwesi Nyantakyi who made the announcement at the media launch on Monday, stated the fund is expected to bring relief to current and foreign players.
He further revealed that the GFA will disclose the amount of its seed money when the fund with is officially launched in March, 2016 and pledged the GFA’S commitment to raising funds.
“Today we are actualising one of the key things on the heart of da GFA. These are players who brought joy, honor and prestige to the nation at large.Their commitment to the nation has never been In doubt.”
“However the game was not as rewarding in their playing days and that is why the FA mooted the idea of raising funds to support our retired footballers and even the current generation “, Mr. Nyantakyi said at the media launch held at the Alisa Hotel in Accra.
A five-member Board of Trustees have been set up to ensure the smooth running of the Fund and make sure it reach its expected targets after it is finally launched
A Senior Lecturer Communications Studies at the University of Ghana, Prof. Kwame Karikar is the Chairman of the Board of Trustees with 1971 Best African footballer Alhaji Ibrahim Sunday also named a member.
Other members include, Mr. Eric Ashitey (a chartered accountant), GFA Executive Committee member Lawyer Kwaku Eyiah and Mr. Seth Osei Agyin, Director of Sports at the Ministry of Youth and Sports.
According to the GFA president, the Board of Trustees were selected based on their various expertise and will therefore be committed to achieving the task ahead of them.
On his part, the Chairman of the Board of Trusses, Prof. Karikari reiterated that the the Fund is purposely for national team players at all levels (U-17, U-20, U-23 and senior national teams) both male and female.
” I deem this as a national assignment we assure you that we will do everything to make this successful.
“Every thing we do will be public . The money will raise will be invested in profitable ventures and there is a fund manager who will advise us on how to invest and yield dividends”, Prof Karikari said.
“Though it’s not a pension fund we will make sure its good enough to take care of their needs. Young players can also appeal to the fund if they are in distress”, he added.
Ghana Football legend Alhaji Ibrahim Sunday who is also the President of the Retired Footballers Association, stated that the fund will surely be in the immense benefit to all retired players. He however expressed his great disappointed in the state for its failure to cater its former players who are going through serious hardships.
He pleaded with the good citizens of Ghana and corporate organizations to show their love to the Retired players by contributing into the fund when the time comes.
Alhaji Sunday thanked the GFA on behalf of the old players for mooting this idea which will ease the burdens of retired players.
Unibank Ghana has been selected as the official bank for the Retired Footballers Endowment Fund.