Togo adopts law to establish sports development fund

Monday, 31 May 2021 12:29
Togo adopts law to establish sports development fund

(Togo First) - Levies will be deducted on revenues generated by sports and other bets and fixed winnings, and parafiscal taxes, to constitute the National Fund for the Development of Sports (FONADES).

This fund was established by a new law setting the rules of organization, development, and promotion of physical and sports activities in Togo. The latter will allow public and private sports actors to benefit from technical and financial support in the practice of sports.

The new law will serve as a basis for the professionalization of sports in Togo and will allow the emergence of high-level athletes and national teams competitive both on the continental and global level,” said Lidi Bessi-Kama, Minister of Sports and Recreation as the law was being adopted.

Overall, the objective of the Togolese authorities via the fund is to “contribute to the social and economic development of our country by promoting the practice of sports through the establishment of a mechanism for mobilizing resources necessary for the development of sports.”

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