The National Treasury has unveiled proposed amendments to the Public Finance Management (Sports, Arts and Social Development Fund) Regulations, 2018. The new draft, dubbed the Public Finance Management (Sports, Arts and Social Development Fund) (Amendment) Regulations, 2024, seeks to refocus the fund’s mandate on financing sports and arts exclusively, while clarifying its administrative processes.
The fund, established under the Public Finance Management Act of 2013, was originally designed to support sports, arts, and social development, including universal health care. However, the proposed regulations aim to “limit the mandate to funding the development and promotion of sports and arts only.” This realignment comes amid calls for streamlined use of public resources and targeted impact on the country’s creative and athletic sectors.
Key revisions include the facilitation of access to modern sports equipment and venues, enhanced financial support for talent development, and funding for international competitions. “Once considered and approved by the National Assembly, the amendments will ensure the Fund objectives are amended to provide funding to support the development and promotion of sports and arts,” the Treasury noted.
A multi-agency task force, drawing representatives from the State Department for Sports and the State Department for Arts and Heritage, developed the amendments. The Treasury has invited public comments on the draft regulations, which have been posted on its website. Stakeholders are encouraged to submit their inputs by following the provided format online.
