Andrew Kamanga says he can proudly state that FAZ is in a better financial situation during his four years at the helm.
Kamanga admitted that has not been easy but a financially solid FAZ was one of a number of successes at FAZ to build on after some setbacks in his initial term.
“When it comes to the FAZ debts, if you recall, we had a problem with ZRA, they actually seized our accounts and again through the help of the minister of sport that was resolved. We also have some dues with NAPSA and these are statutory obligations which go back to a longer period,” Kamanga said.
“Even with government itself, we are indebted because we have dues which accumulated for the use of the two stadia, Levy and Heroes Stadiums.
“But what I must say here is that since our executive came into office, we have religiously paid for the use of the stadiums. So the debts that are sitting there were accumulated from the past commitments.”
Kamanga added that FAZ will continue working towards achieving total financial transparency.
“We have also had to make sure our accounts are reflective of the actual finances. For instance we never used to accrue the dues for the employees so we used to declare profits in the past then if you look at our financials, last year we had a deficit of K17 million and we had to write off debts from the members because these were not collectible,”Kamanga said.
“We have had to clean up the finances. Of course others will say that this FAZ is now showing deficit, yes it is showing deficit correctly and the reflection that is there. In 2018 we had a deficit of K20 million, 2019 it has been reduced further to about K1.7 million.
“So going forward we are very confident that we will clear as many debts and we are not contracting many debts. Our finances even for those who are aspiring to come into FAZ I think they will come in with their heads high as they will find an institution which is easy to run, the days of bailiffs are almost over so financial discipline, I think we have achieved that.
“We have operated on the premise of being transparent, we are accountable and all the finances are open. We do send our financials to the members in good time. Since we took office we have had these accounts sent to the members 21 days before the meetings.
“And I’m happy to report that even in the last AGM, we had Power Dynamos who had raised a number of issues and those were answered by the AGM. We also had a change of auditors because we had the same auditors for a long time. So we want to make sure that through the independent audit and compliance committee who I must thank they have done a fantastic job.”