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Alba Iulia
Saturday, October 31, 2020

Nkana in Financial Limbo

Sports Feature Sports Nkana in Financial Limbo

Nkana insist their 2020/2021 CAF Champions League campaign is not in jeopardy despite a statement from Mopani Copper Mines stating that they will no longer be their principle sponsors.

In a letter dated September 17, 2020 to the Nkana, Mopani stated that it will now supplement the record 13-time Zambia Super Division champions with only a US$15,000 grant and offer them a paltry US$ 6000.00 bonus for winning the 2019/2020 league title.

“Further to our letter of April 27, 2020 and subsequent verbal confirmations of the position in various meetings, Mopani will not be able to provide sponsorship to Nkana FC for the upcoming season. We additionally confirm that the company does not have funds to meet the costs of participation in the CAF,” Mopani stated.

“We acknowledge that it would have been very difficult to seek alternative sponsorship in the period of June 2020 due to the impact of Covid-19 therefore, Mopani will provide you with a limited support towards adminiatrive costs in the amount of US$15,000 per month up to the end of the year effective August 2020.”

But Nkana chairperson Joseph Silwamba denied the champions are facing financial limbo.

“Contrary to the information circulating on social media, Mopani has actually supplemented Nkana FC’s funding for 2020 by giving the club additional support commencing the month of August 2020 after the club depleted its allocation for the 2020 financial year mid-way,” Silwamba said.

“Mopani is further assisting Nkana FC ensure that the 13-time Zambian champions fulfill their 2020/21 CAF Champions League engagements by ensuring that the necessary finances and other requirements are sourced.”

Silwamba, though, did not give any figures to back his statement.

“Nkana FC further wishes to announce that more sponsors have joined Mopani in sponsoring the club in different ways and Nkana FC will soon be announcing those sponsors who have come on board at an appropriate time,” Silwamba said.

1 COMMENT

  1. Nkana is in this state due to being over ambitious and mismanagement. They went on a shopping spree on the international market where they were doing wholesale buying of players with no regard of their financial capability. They brought in players, some of whom they had no use or plans for. They raised the players’ allowances beyond what they could afford. They owe current players and those who have left unpaid salaries and allowances. Their current financial problems will be compounded the moment these players starting demanding to be paid salary/allowance arrears.

    Nkana should have taken a leaf from Power Dynamos on prudent usage of finances and long term commitments for the club. We recently saw Nkana featuring more than half foreign players during a game, these foreign players…

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