Sports has potential to generate revenue, say officials

By Simon Deng

The First Deputy Governor of the Bank of South Sudan, Samuel Yanga Mikaya, said on Thursday that sports have the potential to generate revenues if it’s well supported and developed.

“As we take it (sports) now for entertainment, unity, coexistence, and for fighting tribalism, we need to go and develop it to the extent where we can benefit economically, When we get to that level, then everybody will realize that sports is not just sports,” said Mikaya during a panel discussion on sports financing at the Bank of South Sudan headquarters in Juba.

Mikaya appreciated the Ministry of Youth and Sports for taking up an initiative to develop sports across the country, adding that there is need for collective effort to build sports infrastructure.

“We have been having sports at the local level, but we have never had any idea of commercializing it. We have the potential of organizing sports so that instead of having that objective of unity and coexistence, we actually get economic growth out of it,” he said.

Henry Ruben, General Manager for Ivory Bank said that several sports clubs have already opened bank accounts across their branches in the 10 States.

Parek Toby Madut, Chief Policy Advisor at the Ministry of Finance said that they have ambitious plan to pool resources towards supporting sports development in the country.

“Sports itself is a global phenomenon. It’s no longer within your borders. We have to integrate into how sports now is turning into something that crosses all boundaries beyond the continent,” said Madut.

Madut said there is need to expand bases for resource mobilization, adding that sports needs regulatory frameworks to attract investors in the sector.

 “We have to think of the financing of sports not as a charity, but as a development-oriented issue, we need to be able to build the ecosystem locally both in terms of laws, and we need to be able to lead by providing the environment that would help,” he said.