The Ministry of Youth and Sports in collaboration with the Glico Group Limited on Thursday launched an investment policy worth ?802,100 to help the 2021 national under-20 team, Black Satellites to be financially stable after retirement.
Mr. Mustapha Ussif Minister of Youth and Sports speaking at the launch of the investment policy said, the reason for the implementation of the policy was to help the players to be financially sufficient after their football career in order not to be a burden on society.
He explained that, after several consultations with President Nana Addo Dankwa Akufo-Addo, it was agreed that the U-20 team should invest 50 percent of their winning bonuses received at the 2021 U-20 Africa Cup of Nations in Mauritania into an investment to secure their future.
The agreement was for GLICO Group Limited to be in charge of the investment fund and was signed on 12 September 2021.
The Minister further stated that this was as a result of the ministry’s observation of the fact that sportsmen and women of the various national team levels do not have any investment to rely on, after retirement.
According to the minister, each member of the 26 players would be entitled to $5,000 after retirement adding that an amount of $130,000 had been contributed to the investment fund.
Mr. Ussif told the players that they are at liberty to contribute to the “GLICO MASTER TRUST PROVIDENT FUND SCHEME” whenever they wish to increase the value.
Head Coach of the Black Satellites, Coach Karim Zito said the investment policy was a morale booster to the players.
He made reference to the fact that during their time in the Black Stars, there was nothing like an investment policy that would help to stabilize players after retirement.
Coach Zito thanked President Akufo-Addo and the Minister of Youth and Sports for implementing a great initiative.
The Black Satellites beat Uganda early this year to win the 2021 Confederation of African Football (CAF) U-20 Cup of Nations in Mauritania.