The government has announced a bill aimed at amending the functions of the Sports, Arts and Social Development Fund (SASD Fund).
In a statement on Wednesday, November 27, 2024, the National Treasury said that if the bill sails through, the fund will be limited to funding the development and promotion of sports and arts only.
Under the current setting, the SASD Fund, established under the Public Finance Management (Sports, Arts and Social Development Fund) Regulations, 2018, provides funding to support the development and promotion of sports and arts and the promotion of social development including universal health care.
“This Amendment Regulation seeks to amend the Public Finance Management (Sports, Arts and Social Development Fund) Regulations, 2018 by limiting the mandate to funding the development and promotion of sports and arts only. The amendments also clarify the administration of the Fund,” the National Treasury noted.
“The Amendment Regulation, once considered and approved by the National Assembly, will ensure that Fund objectives will be amended to provide funding to support the development and promotion of sports and arts, including facilitation for the acquisition and provision of equipment for sports and arts, enhancing support and access to funding for sportspersons and sports organizations on their participation in sporting events and competitions, financing the development of sports and recreation arts facilities, among others.”
The ministry says a multi-agency task force composed of officers drawn from the State Department for Sports, the State Department for Culture, the Arts and Heritage, Sports, Arts and Social Development Fund and the National Treasury has now finalized the draft of The Public Finance Management (Sports, Arts and Social Development Fund) (Amendment) Regulations, 2024.
“Now, pursuant to Section 4 (a) and 5 (3) (a) and (b) of the Statutory Instruments Act, 2013, the National Treasury & Economic Planning invites members of the public to submit comments, inputs or memoranda they may have on the said draft The Public Finance Management (Sports, Arts and Social Development Fund) (Amendment) Regulations, 2024 in the format provided on the website,” Treasury added.
