The Football Association of Zambia (FAZ) is in a deep debt about 1.5 billion kwacha (about 440,000 U.S. dollars) including a bank overdraft of 180 million (about 53,000 dollars), according to Times of Zambia.
It quoted Sport, Youth and Child Development Minister Gabriel Namulambe as saying here Sunday that the government would thoroughly investigate the matter and that auditors would soon move in.
Namulambe said in an interview that the huge debts were incurred by the previous executive and has sympathized with the Kalusha Bwalya-led executive committee.
The minister has since appealed to all creditors to give the association time to settle down.
He, however, cautioned the current FAZ executive committee against incurring unnecessary bank overdrafts which they could not service.
He said: “We sympathize with FAZ, they took over 1.5 billion kwacha debts and out of that 180 million kwacha is a bank overdraft. One would wonder how such a huge debt can be incurred.
“We are calling upon all FAZ creditors to be patient and give them time to settle down,” he said.
Namulambe said he would soon send auditors to carry out an investigative audit exercise so as to ascertain how the association found itself in such a financial crisis.
“We are sending auditors to do an investigative audit, to go deeper into how these debts were incurred. I want to caution the new executive not to fall prey to incurring unnecessary overdrafts without servicing them,” he said.
Last month, FAZ engaged auditors to investigate the association’s accounts where over 2 billion kwacha was spent within a space of three months.
Over 2 billion kwacha spent within a space of three months?
Am mauless.
Wasnt Kalusha Bwalya the VP in the last Executive?
Where is the Task Force? All forms of corrupt practices must be investigated. Are these guys waiting for a Presidential Directive for them to do their work? Come on Mr Minister, take charge and the task force move in!
Lelo kalu!
Pa Zed chabe.
Taxi payers money ka!
Pamene apa mwa conluda without ama facts. We will never change will we?
#7 you are right, why do we rush into conclusions without analysing the facts. Wait for the auditors to do their job before we start mentioning names.
dont let that debt surprise you..do you think its free to go on planes and accomodation in foreigmpanies?food,kits and all other expenses?the govt is acting like they funded the association adequately.am sure this debt has been run up over a lot of years.Dont conclude from without you zambians!
Pa Z ni pa Drama. We just let people run over things as if we dont care. Every strong organisations has people with strong business minds. In FAZ we only have people with good football backgroung, that means the associatin is not well balanced.
How can thsy accumulate dabt of alomost K2 billion we thay depend on funds from government? If they cant manage the association then why try and run it?
Do we have wise people in Zambia or at leat who are naturally bright. Shame ba FAZ.
Why should we wait until last minute to announce how my tax is misused? Munaile has been in faz so is Kalusha. Let them explain.
What a bomb shell again? what’s wrong with our country? In the middle of the big game between Swazi, Faz is talking how debt the organization is, the new coach is talking about the no shows of Collins Mbesuma, guys this is a very big distraction to the players in camp. First for sure they know Faz is in debt that means they are not getting paid for the Swazi game, the no show of Mbesuma is a huge distraction in camp too!! Why can’t Faz wait till the game is played when they unleash their financial issues? Some of these things might look simple to Faz or some Zambians, but it might turn into a Zambia not making it to SA 2010 World Cup. Now someone has to encourage and make fake promises.
SEThatered on April 3, 2011 75000$ 30000$ Are you kiiddng me?Here at Stuttgart university (ger) a group of students constructed, made and installed a prototype. And it was less than 1000$ in total.And it was: carbon-fibre (blades), aluminium (support structure) and concrete (base).Replace cf with glass-fibres and it will be less than 600$.
this dude was part of the the former executive so i dont see why any one should feel pity on him. instead of doing his job he was busy undermining his president.didnt he see the flaws that were occuring in faz. this guy has never had love for zambia, all he has been interested in is his personal glory. even wrong motivation can result in great results that is why he is known as great kalu but he got his priorities all wrong.
Gentlemen, I had posed not too long ago a question on this blog.
My question was directed at FAZ and was as follows: Does FAZ get money from FIFA and if the answer is YES, can FAZ give us a breakdown of how the money is spent.
You now know why these boys at FAZ are always fighting for positions ! Get rich fast – Quick money. No one audits FAZ it looks like.
#14 Sozi Fifa dosen’t give money to Faz.
Is Gabriel now Minister of Football??
If FIFA does not give some kind of incentive 2 poor asssciations, then how does FAZ sustain itself, if government does not give them grants?
Can someone enlighten us on this issue.
Like mentioned, Kalu was in the previous regime so he must be accountable as well.
# 15 I beg to differ with you. #17 has a point. FIFA makes millions of Euros/dollars and one of its tasks is to assist financially football associations in poor countries, Zambia included.
Woodpecker #17 FIFA does not give grants to any association.They can only come in and build a camping place or build offices like the did with the FAZ offices.The only time that FIFA gives money is when a particular nation qualifies to the World Cup finals.Just for qualifying an association like FAZ will given 1 Million Dollars to prepare the team.All the 32 teams that qualify get about 1.2Million Dollars each.Just imagine what that money can do to FAZ when the can’t pay $50,000.The would pay all their debts and remain with plenty of change.
Lets not conclude. Mulonga took over a debt of about 5.2billion for which I think he tried in reducing. It’s upto Kalu to reduce it further. The Minister should talk of constructive issues and not distructive ones
#17 and #18.FIFA has what it calls Financial Assistance Programmes (FAP).This where the help poor member associations to fund Womens soccer,Beach soccer,youth soccer,build things like Artificial pitches & football ass offices,train for referees etc though i am not sure if the give hard cash. For more go to FIFA.com,click on About FIFA,then click developing the game you can read more maybe it says something about grants i maybe wrong but i do know the help member associations through programmes. I stand to be corrected.
Though the other incentives by being in FAZ of course.(Which we can discuss later).
Bonse niba kabolala.
FAZ, FAZ, FAZ, get those guys at Nike to write a new contract. Or maybe with a new brand. I would buy a Chipolopolo jersey and so would another x-amount of people. Work out a cut that goes to FAZ from the cost. People will support FAZ, make it worth our while.
In Britain i could buy a football top from any of the countries at Ghana which were sponsored by Puma, even Angola… Puma seems to have got most countries in the world now. Come on Nike football, Football 90? Where is your ambition now. Keep us in your plan…
Ba FAZ have inccured debts amounting to K 1.5 billion, however there is nothing that can be
Ba FAZ have inccured debts amounting to K 1.5 billion, however there is nothing that can be done only until the Auditors give the real financial report on how FAZ had used the money.Its good that some members of the previous administration are also present in the new Kalusha led administration and this makes the matter even more critical.Lets be patient as we get the report from the auditors so that we can know clearly what happened, otherwise lets not conclude so fast.However let this not affect our national team which is going for a do or die encounter against Swaziland.
Kufi lepaula ifipiya nga fyapwalala…