A comprehensive audit of the 13th African Games, Accra 2023, has revealed that although GH¢2,245,515,037.44 was received and spent on the event, a total outstanding liability of GH¢208,583,739.49 remained unresolved as at the reporting date.
The liabilities consist of GH¢155,123,020.15 in Ghana cedi obligations, USD 4,118,155.65 in United States dollar commitments, and EUR 288,775.11 in euro-denominated debts. The figures reflect unpaid financial obligations arising from the planning, execution, and post-event settlement processes of the Games.
Sources of Funds and Total Expenditure
The audit shows that total funding for the Games came from a combination of government allocations, sponsorships, and internally generated revenue streams. The largest component was releases from the Controller and Accountant-General’s Department to the Ministry of Youth and Sports, amounting to GH¢2,155,782,217.49.
Additional revenue was generated through sponsorships and commercial activities. Cash sponsorships and donations included USD 1,415,000, which, using an exchange rate of 1 USD to GH¢12.00, translated to GH¢16,980,000. Cedi-denominated sponsorship contributions amounted to GH¢11,388,525.
Further inflows came from participation registration and accommodation fees paid by participating countries, which totaled USD 5,064,741.68, equivalent to GH¢60,776,900.16. The audit also recorded gate proceeds of GH¢167,394.79 and broadcast feed sales amounting to USD 35,000, equivalent to GH¢420,000.
In total, these sources brought overall funds received for the African Games to GH¢2,245,515,037.44, all of which were reported as spent on the organisation and delivery of the event.
Composition of Outstanding Liabilities
Despite the scale of expenditure, the audit identified significant unpaid commitments remaining after the conclusion of the Games. The liabilities total GH¢208,583,739.49 and are spread across multiple currency obligations.
The breakdown shows GH¢155,123,020.15 in outstanding Ghana cedi payments, USD 4,118,155.65 in dollar liabilities, and EUR 288,775.11 in euro obligations. These figures indicate that while the Games were fully financed on paper through combined funding sources, not all financial commitments were fully settled.
The audit indicates that a standard exchange rate of 1 USD to GH¢12.00 was applied in consolidating foreign currency transactions into Ghana cedi terms. This approach allowed for a unified financial presentation of revenues, expenditures, and outstanding obligations.
The use of multiple funding streams and currencies reflects the international nature of the African Games, which involved foreign delegations, service providers, and cross-border financial transactions.
The 13th African Games, Accra 2023
The African Games are a continental multi-sport competition owned exclusively by che African Union (AU) and organised every four (4) years, one year preceding the Olympic Games.
Established in 1965 as the All-African Games and later renamed the African Games, the event is held under the patronage of the AU to promote high performance in African sports, strengthen cultural exchange, and advance continental Integration.
Following a Presidential Directive, the Ministry of Youth and Sports in May 2018 submitted Ghana’s bid to the African Union Commission (AUC) to host the 13th edition of che Games scheduled for 2023.
Ghana subsequently won the bid on 25th October 2018 at the 3rd Specialized Technical Committee for Youth, Culture and Sports (STC-YCS-3) of che AU in Algiers, Algeria.
A Local Organising Committee (LOC), as required under the AU framework, was constituted by the then Minister for Youth and Sports and inaugurated by the President of the Republic on 20th October 2020 at the Jubilee House.
The LOC was mandated to organise and host the Games and to ensure that the facilities developed for the event would be transformed into a University of Sport for Development to secure a sustainable legacy and prevent the infrastructure from becoming “white elephants”.
In furtherance of the hosting arrangements, Parliament of Ghana, at its 33rd Sitting on 6th July 2021, approved by resolution the Agreement between the Government of Ghana (through the Ministry of Youth and Sports) and the African Union Commission for the technical and material hosting of the 13th African Games, Accra 2023.
On the same date, Parliament approved a US$170 million Loan Agreement between the Government of Ghana (through the Ministry of Finance) and CalBank Ghana Limited, acting as Facility Agent, to finance sports infrastructure and residential facilities for the Games.
Additionally, Parliament approved a Commercial Agreement valued at US$145,086,057.54 between the Government of Ghana and Contracta Construction UK Limited for the construction and delivery of the requisite sports infrastructure and residential facilities for the successful hosting of the Games
Financial Implications of the Findings
The findings highlight a financial structure in which large-scale public expenditure was matched with equally significant post-event obligations.
While the over GH¢2.24 billion expenditure demonstrates the scale of investment in hosting the continental sporting event, the remaining liabilities point to unsettled financial commitments that extend beyond the operational period of the Games.
The presence of liabilities in both local and foreign currencies also underscores exposure to exchange rate fluctuations and delayed settlement obligations, which can affect final cost reconciliation.
The audit concludes that the 13th African Games, Accra 2023, was financed through substantial public and commercial inflows totaling GH¢2.245 billion. However, despite this expenditure, GH¢208.58 million in liabilities remained outstanding, reflecting pending financial obligations tied to the event’s organisation and delivery.
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