21 March 2018
Mega-Deals: We don’t dish out cash, China
Min: Chinese looters won’t affect relations
Furious doctors defy government order
Teachers to go on strike over salaries
Harare: SA cocaine trafficker jailed 10yrs
No MDC Alliance VP yet: Prof Ncube
Man sodomises his three minor kids
Gonda: I returned to Zim a stranger
Mnangagwa: Africa can do much better
Chinamasa, Mangudya in China for funding
Zim Achievers SA to honour Mtukudzi
Trey Songz up for punching woman
PSL mum on ZPC Kariba, Platinum match
SA: Kaitano Tembo praises youngsters
Mugabe spoke for the marginalised, but
Whither ED, how tactful art thou?
ZimDiaspora: Bum cleaners, runaway fathers?
Autism: Awareness and interventions
Dube vows to clear Zifa debt by 2017

Vow to liquidate Zifa's $5m debt ... Cuthbert Dube with Zifa CEO Jonathan Mashingaidze

23/06/2014 00:00:00
by Sports Reporter
FIFA to help ZIFA deal with $5m debt
ZIFA to tackle PSL relegation format
Dube wants Zifa to go into farming
Dube re-election gets Fifa thumbs up
Saturday Zifa poll to decide Dube fate
FA Cup back in my first 100 days: Gwindi
Uhuru Cup: Dynamos face Hre City
Court rejects bid to stop ZIFA polls
Cuthbert Dube steps up ZIFA campaign
Gumbo ousted as women’s soccer chief
Carelse-Juul battles Dube for Zifa post
Friday deadline for Zifa nominations
Gwindi moves to save Zifa presidency run

ZIFA President Cuthbert Dube has said liquidating the association’s US$5 million debt which has been crippling national football’s governing body’s operations remains his top priority.

The Zifa boss announced a raft of measures including some austerity plans which he believes will gradually turn the Zifa books from red to black.

Dube told the association's official website that after cleaning up the game from the match fixing scourge that plagued Zimbabwean football, his board which was elected on March 29, had set new benchmarks for the growth of the game in the country.

He said it was important that they liquidate the debt which has hampered operations and also affected the association’s creditworthiness.

“The Association is committed to servicing the growth and development of football in Zimbabwe,” said Dube.

“The Association is seized with retiring the US$5million debt through a robust approach driven by competent and professional individuals.”

Some of the measures Dube is proposing include:

  • Austerity measures or reduction of costs through 5% savings on expenditure.
  • Increase income via revenue streams (ongoing)
  • Restructuring of liabilities with creditors.
  • Repayment of loans over a long period.
  • The loans can also be consolidated on.
  • Raising more capital via investment in farming, mining, entertainment etc, obtaining grants from benefactors.
  • ZIFA Village to be turned into a vibrant business.
  • ZIFA to engage creditors on the waiver of the debts.
Dube also said the austerity measures would see the association’s US$5million debt cleared by 2017 and that the Zifa Assembly would at their extraordinary general meeting on 26 July further discuss debt retirement strategies with councillors.

“ZIFA is a non-profit making organisation since it is a service organization. ZIFA has also engaged FIFA on the formulation of the debt servicing strategy. ZIFA’s debt servicing strategy will be adopted by the ZIFA Assembly on 26th of July 20,” he said.


Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it






Face Book



comments powered by Disqus
RSS NewsTicker