FAZ has an income of K33,729,229,000 boosted by winning AFCON last year

kalusha with cup.jpg

BOOSTED by winning the Africa Cup of Nations (AFCON) last year, the Football Association of Zambia (FAZ) finances rose by almost 150 per cent to a staggering K33.7 billion (KR33.7 million), a figure that subsequently saw the local football authority posting a rare surplus of K3.2 billion (KR3.2 million) as at December 31, 2012.

The K3.2 billion surplus, which the FAZ had in the account at the turn of the year, was a far cry from the 2011 figures where it posted a loss of K264 million (KR264,000).

According to the FAZ books of accounts presented to the Council in Kabwe on Saturday, the FAZ has an overwhelming income of K33,729,229,000, which was by far better than that income of K14.1 billion (KR14.1 million) from the year 2011.

The differences in the incomes of 2011 and those of a more successful 2012 represent a rise by exactly 140.1 per cent.

FAZ treasurer, Kelvin Mutafu said that that the cash prize from  Confederation of African Football for Zambia winning the 2012 AFCON was K6.12 billion (KR6.12 million) with the association deciding to pay out just over K4 billion (KR4 million) to clubs around the country for their contributions to the title.

“As we promised you that the monies from the AFCON win will trickle down to the lower division team, we kept that promise and paid out a total K4.04 billion to the clubs. All in all, after all the income in 2012, we managed to have a surplus of K3.21 billion.

“This was mainly boosted by income from the Africa Cup win as well other finances related to the Africa Cup and various sponsorship deals we have and on top of that, the strong financial prudence from the executive,” Mutafu said.

Mutafu said there was also a general increase in the sponsorship to the FAZ from various firms which include the national team dressers Nike, Supersport, MTN Zambia, Zambian Breweries,  Barclays Bank and Airtel Zambia through the Rising Stars programme.

In 2011, the sponsors gave FAZ K4.72 billion (KR4.72 million) but the figure almost doubled in 2012 to K8.89 billion with increased pledges coming out of the Africa Cup winning contributing to the phenomenal increase.

FAZ president, Kalusha Bwalya later said that “I must make mention here that we are very grateful to Airtel Zambia for coming up with the Airtel Rising Stars programme which helps a big deal in talent identification.”

The FAZ has MTN which sponsors the League and at the senior national team is joined by Zambian Breweries among others with the Airtel initiative covering one blank spot, which is junior sports development.

Additionally, the increase in sitting capacity at the elegant Levy Mwanawasa Stadium in Ndola saw the FAZ revenue from games’ gate takings skyrocketing  by a whooping 632 per cent to K7.76 billion (KR 7.76 million) from the K1.06 billion (KR1.06 million) from 2011.

The Levy Mwanawasa Stadium is a magnificent 40,000-seater contraption which is more than five times bigger in sitting capacity than Lusaka’s Nkoloma stadium, which was been used after security concerns were raised over Konkola Stadium in Chililabombwe.