Power Dynamos admits that uncertainty over principle sponsor, Copperbelt Energy Corporations’ operations, after the expiry of the Bulk Service Agreement with Zesco, has left the Kitwe club in a precarious situation.
This follows an impasse with Zesco after the BSA deal expired on March 31, 2020 plus a US$144 million debt owed to CEC by Konkola Copper Mines subsequently saw regulatory authorities declare the company’s’ power transmission lines common carriers following a stand-off with the mining concern.
CEC reportedly has a US$1.8 million annual budget set aside for the Kitwe-based six-time Zambian champions who last lifted the league title in 2011 and later finished second in 2014, third in 2015 and fourth in 2016.
“While our parent sponsor has yet to officially communicate a firm position regarding the future of its relationship with the Club, we can logically speculate a drastic budget cut or a possible total discontinuation of financial and material support that the Club has enjoyed since its establishment as a community amateur group in 1971,” Power CEO Happie Munkondya said.
Power are currently ninth this season that has been on pause since early March due to the prevailing Coronavirus pandemic.
The Kitwe side has 37 points from 24 games played, and are nine points behind leaders Forest Rangers with nine games to left to play ahead of the projected restart of the league campaign in mid-July.