Business mogul Togbe Afede has come to the rescue of the Special Tournament by promising a $400,000 top for its organisation.

The move by the Bankroller of league side Accra Hearts of oak comes at the back of a unanimous decision by the 16 premiere league clubs to boycott the tournament due to inadequate financial package for the three-month competition.

The Normalisation Committee had  proposed $800,000 for the running of the competition which also features 48 National Division One Clubs.

But at a meeting on Wednesday the 16 premier leagues clubs raised red flag, claiming the appearance fee for the competition is  "too small".

According to source, the additional amount promised will come in a way of sponsorship package by the owner of Strategic African Securities.

The gesture of the Phobian boss is to allow the clubs to have enough money for their expenses ahead of the tournament.

The launching of the tournament which involves both the Premier and Division One Clubs will be communicated to the public in the coming days.


Mr. Togbe Afede, XIV founded Strategic African Securities Ltd., and serves as its Chief Executive Officer. Mr. Afede served as a Lecturer at the Business school, University of Ghana and Executive Director of Databank financial. Services Ltd.

Among his major professional accomplishments, he co-founded Databank Financial Services Ltd and founded Strategic Initiatives Ltd and SAS Investment Management Ltd., among others. He is an Investment Banker with experience spanning over twenty (20) years.

He serves as Chairman of strategic initiatives Ltd in Accra. Mr. Afede has been a Director of Pioneer Kitchenware Ghana Limited (Alternatively, Pioneer Kitchenware Limited) since January 2002 and serves as its Chairman of the Board. He served as a Non-Executive Director at Bank of Ghana since April 16, 2009 until June 26, 2013.

He serves as a Director of National Theatre of Ghana, Accra Hearts of Oak FC Ltd., SAS Investment Management Ltd and Strategic Initiatives Ltd. He has been a Non Executive Director of Aluworks Ltd. since February 2002.

He is currently a member of the President's Economic Advisory Council. Mr. Afede holds an MBA degree in Finance from Yale University in USA and a BSc Administration (Accounting) degree from the University of Ghana.