E1.3M SURPLUS FOR EFA

EZULWINI – Eswatini Football Association’s surplus has shot up to over E1.3 million.

This is as per the financial report for the period ending December 31, 2021. On behalf of EFA, Chief Executive Officer (CEO) Frederick Mngomezulu presented the financials during an Ordinary General Assembly at Happy Valley Hotel in Ezulwini yesterday. President Peter ‘Samora’ Simelane chaired his first annual general meeting (AGM) yesterday since being elected into office 420 days ago. The report reflected that the surplus was recorded at E1 332 811 at the end of the past year, which was an improvement of about 41 per cent when compared to the previous year. The year 2020’s surplus figures were at E784 736.

affiliates

The EFA affiliates expectedly spent much of the time in the about five-hour meeting discussing the report. Premier League of Eswatini (PLE) Executive Member Charles Matsebula, among other things, had questioned the sharp increase in legal fees. They increased from around E45 000 to over E458 200. The EFA explained that the increase, among other things, was caused by the settlement of legal fees in a case involving former Technical Director Myengwa Sibandze. The latter had challenged his dismissal from EFA. Meanwhile, during the same meeting, EFA further tabled an over E35 million budget for 2022. EFA expects to get over E20 million from FIFA.

discuss

Notably, members also wanted to discuss the issue of the 2020 Toyota Hilux 2.8 GD-6 which was sold to then President Adam ‘Bomber’ Mthethwa for a reduced price of around E280 000, but the incumbent football head honcho said the matter was sub judice (not yet judicially decided). When new, the value of the car is said to be close to E700 000. Another highlight from the report, on the other hand, was the about E437 316 loss suffered by the association as a result of assets burnt during the political unrest in March this year. The Sihlangu coach bus was burnt by unknown arsonists while parked at the EFA Technical Centre in Lobamba.

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