“banner728.gif"

DEBTS ALMOST OVER – FAZ

BAILLIFS entering the Football Association of Zambia (FAZ) has become a common spectacle for the past three years.

This is due to financial obligations the association has had with different stakeholders that have rendered services.

However, due to the financial discipline brought in by current president Andrew Kamanga, FAZ has slowly settled some of the debt.

Addressing journalists in Lusaka on Saturday, Kamanga said the current FAZ accounts were a true reflection on what was on the ground.

“If you recall, we had a problem with [the Zambia Revenue Authority] ZRA. They actually seized our accounts, but through the help of the Minister of Sport that was resolved. We also have some dues with [the National Pension Scheme Authority] NAPSA,” he said. “Again, these are statutory obligations; even with government itself we are indebted because we have bills that accumulated from the use of both stadiums; that is Levy Mwanawasa Stadium and Heroes Stadium. But what I must say here is that since our executive came into office, we have religiously paid for the use of the two stadiums, so the debts that are still there are from the last commitments (former executive). We also had to make sure that our accounts are reflective of the actual finances.”

He said the current executive was also able to show deficits in their financial records as part of transparency.

“Of course, others will claim that this FAZ is showing deficits. Yes, it is showing deficits because it is the correct reflection of what is there. So, for 2018 we had a deficit of K18 million, 2019 it reduced further to about K1 million. So, going forward, we are confident that we will clear as many debts and we are not contracting many debts,” said Kamanga. “So, our finances for those who want, who are aspiring for the executive, I think they will come in with their heads up. They will find an institution that is easy to run, the days of bailiffs are almost over. Financial discipline, I think we have achieved that because we have operated on principles of being transparent; we are accountable and all the financials are open. And we do send the financials to members in good time. Since the time we came into office, we have these records sent to the members 21 days before the meeting. All the monies that are coming into football are being deployed into football. And the biggest problem I have, I must confess, is ensuring that there is financial discipline in FAZ.”

Leave a Reply

Your email address will not be published. Required fields are marked *