Ministry, Kotoko Tango Over 1997 Debt

An emerging query from the offices of the Ministry of Youth, Education and Sports over a loan facility granted Kumasi Asante Kotoko as far back as 1997 is currently rocking the smooth sailing boat of the Porcupine Warriors.

The amount involved; ninety-nine million, six hundred and eighty-three thousand, six hundred cedis (99,683,600.00) can conveniently be described as trifle by Kotoko standards and therefore cannot cut ice, what is intriguing however is the seeming lack of records to reconcile the account. While officials of the Ministry insist that the loan facility is still outstanding and should be settled, Kotoko maintains that the amount has been settled.

A letter signed for the Minister by the ministry's director, Abudulai Yakubu and dated May 23, 2003 said Kotoko in 1997, alongside Accra Hearts of Oak, requested the then Ministry of Youth and Sports for financial assistance to enable them participate in the CAF Cup and Africa Cup Winners Cup competitions respectively.

Consequently, Kotoko benefited from various forms of assistance totalling 99,683,600 to pursue its cup dreams. The club undertook to refund the loan. But according to the minister's letter, 'Though a series of meetings have been held to ascertain whether or not ' Kotoko 'has refunded the loan as required this has not provided any concrete answers. Whilst officials of the Ministry who were at post at the time of the transaction alleged that the loan has not been recovered' Kotoko 'at meetings held on the subject, is of the view that the loan has been cleared with proceeds from the gate' in Kotoko's 'match with USM Baider of Algeria played in Kumasi on 4th May, 1997.'

The ministry's letter said the situation has made it extremely difficult to respond to enquiries being made by the Public Accounts Committee of Parliament on the subject.

The Ministry said it has decided to undertake a reconciliation of the accounts of the transaction and has accordingly requested that Kotoko attend a meeting today with officials of the club both past and present who were involved in the acquisition and disbursement of the loan to resolve the matter.

Kotoko have also been requested to send along all documents in its possession, which would facilitate the meeting.

The period under reference fell under the George Edusei Poku's administration.