MBABANE – The Eswatini Football Association (EFA) is facing a significant financial shortfall, with its latest financial statements revealing a staggering deficit of E4.9 million, attributed mostly to costs of matches played outside of Eswatini.
The news came to light at the association’s Annual General Assembly over the weekend where the Finance Committee Chairman Steve Horton detailed the figures and identified the key cause of the prohibitive costs of international football matches.
Horton’s presentation explained that while a clean audit had been achieved, the expenditures for playing matches outside the country had severely affected the EFA’s expenditure line.
The financial report showed total expenditure at E5,278,599, with key cost centres being accommodation at E632,599 and travel expenses at E782,880.
These figures, he said, highlight how the costs of sending the national team abroad have proven to be an unsustainable financial drain, far outweighing the revenue of E4,908,900.
Horton also noted that spending on “social and hospitality” was E30,000 each. However, Horton also outlined a clear path forward for the association. He stated the EFA is committed to generating new revenue by “gradually commercializing some of our products.”
This strategy aims to build a more stable and sustainable financial future for the organization, reducing its reliance on costly international fixtures.
The plan, approved by the Executive Committee, sets a new course for the EFA’s financial management. With a focus on self-sustainability, the association hopes to stabilize its finances and continue to support the national team’s development in a fiscally responsible manner.
Discussion about this post