Safa hit by cash problems – Report

2010-01-22 10:46

THE South African Football Association (Safa) is struggling with

cash flow problems, the Mail&Guardian reported today.

The weekly newspaper said it had access to Safa’s bank accounts

which showed a negative balance of more than R7.4 million.

It said other Safa documents showed that it also owed suppliers

another R7 million.

A senior Safa official, who was not named in the report, said the

situation was even bleaker than that.

“We are close to R10 million in the red, excluding what we need to

pay our suppliers,” he said. “It’s becoming increasingly difficult to run the

sport smoothly in the country. The majority of our regions have not received

their grants, which has paralysed the game in these affected areas.”

A letter written by the Safa Waterberg region which was leaked to

the Mail&Guardian said the region was facing eviction from its office, and

that it had not paid its phone bills and owed staff members their


But former Safa chief executive Raymond Hack told the weekly paper

that allegations of financial problems were “absolute nonsense”.

“The SABC alone owes Safa almost R27 million,” said Hack, who

resigned from his position early in January. “Even if we had a worst-case

scenario of owing the bank R3 million, which I doubt very much, Safa’s books

would still indicate a healthy balance of R24 million.

“I am reliably informed that the SABC will pay... this week which

should sort out any financial problems,” added Hack, who reported a R32 million

profit for Safa last September.

Safa’s vice-president for finance, Mandla Mazibuko, confirmed to

the Mail&Guardian that Hack left Safa’s account in a deficit but would not

give any figure.

“It’s really too early for me to comment because I’m still going

through the books,” said Mazibuko.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.