Latest news with #GronieHluyo
News24
4 days ago
- Entertainment
- News24
Ahee, Papa Penny, ahee! MKP MP lightens up Safa's appearance in Parliament
Screenshot The attempted grilling of Safa by Umkhonto weSizwe Party (MKP) MP and musician Gezani Kobane, popularly known as Papa Penny, during the association's appearance before the parliamentary portfolio committee for sport on Tuesday left many South Africans in stitches. The musician-turned-politician asked Safa chief financial officer (CFO) Gronie Hluyo why he was still in the employ of Safa when he was facing serious charges of fraud and corruption while other staff members had already faced discipline and suspension. Reading his prepared question, Papa Penny was the talking point after the meeting. Some people called for Parliament to have translators and allow members to speak in their own languages.
News24
5 days ago
- Business
- News24
Five key takeaways from Safa's financial statements presented in Parliament
Safa is technically insolvent, with liabilities exceeding assets by R141 million and a loss of R5.4 million for the year ended June 2024. The football association's officials were summoned to Parliament to explain their dire finances. The turnaround strategy includes implementing club licensing fees and registration fees for players and officials. On Tuesday, Safa laid bare its depressing audited annual financial statements before the sport, arts and culture portfolio committee in Parliament in Cape Town. The Safa delegation, led by its president Danny Jordaan, CEO Lydia Monyepao and chief financial officer Gronie Hluyo, revealed the association was technically insolvent and was facing a bleak future if it could not turn its finances around. Here are five takeaways from Safa's presentation. Safa is still technically insolvent The cash-strapped Safa reported an operating loss of R5.4 million for the year ended 30 June 2024. The association attributed the losses to a lack of funding for junior national teams, preparation costs for Banyana Banyana's 2023 Fifa Women's World Cup and Bafana Bafana's Afcon participation. More concerning is that Safa's liabilities exceed its assets by R141.2 million, which has created cash flow problems. Safa annual financial statement No bonus for Amajita's Under-20 Afcon-winning coach Despite leading Amajita to the Under-20 continental title last month, Monyepao said head coach Raymond Mdaka would not get a bonus for his monumental achievement. Last month, the former Safa technical director, Walter Steenbok, revealed Mdaka was on a one-year contract and earning R25 000 monthly. However, Monyepao refused to disclose Mdaka's salary when committee member Makashule Gana asked her to confirm Steenbok's claims. 'You are going to disclose,' said Gana, who was supported by committee chairperson Joe McGluwa. 'You must respond to that question and you are going to respond to it,' asserted McGluwa. 'It's not true,' Monyepao insisted. Monyepao said Mdaka earned more than R30 000 but not more than R50 000. She confirmed that Bafana head coach Hugo Broos earned more than R1 million a month. Monyepao also confirmed that Amajita travelled by bus for more than 15 hours to the tournament in Mozambique. Financial turnaround strategy Safa is implementing a club licensing and membership programme that will see its clubs pay a licence fee of between R300 and R1 million. All the players, coaches and officials will be required to register and pay a fee ranging from R20 to R5 000. 'The expected revenue to be generated in the first year from this programme is R17.8 million (next year) and it will grow to more than R50 million in 2030. 'There is a possibility of implementing this programme in this financial year and, if this materialises, an estimated revenue of R10 million will be generated,' according to the report. These amounts do not include the PSL clubs, which may add another R10 million in the first year, growing to R30 million by 2030. READ: Middendorp's open letter to PSL and Safa: 'NFD has lost integrity; please act' 'This programme will also require all the local football associations and regional football associations, including their executive members, to register. This will generate an additional R2.5 million for the association.' Safa added in the national executive committee report that these measures were part of the association's efforts to improve its dire financial position. The association also bemoaned that its junior national teams did not have sponsors. Safa added that it expected Bafana and Banyana to bring in a total of about R250 million if they qualified for their respective World Cups and Afcon tournaments. Safa wants a share of PSL revenue Safa finance chief Hluyo said the association wanted a share of the PSL's revenue. Danny Jordaan's U-turn After winning his third but controversy-marred term in June 2022, Jordaan said then that he would not seek another term. But it seems that he has had a change of heart and wants to cling to power. Rise Mzansi MP Gana asked Jordaan whether he would avail himself to serve another four-year when his current third term ended next year. Jordaan, who was first elected Safa president in September 2013, was non-committal. Pushed by Gana, Jordaan said he served at the mercy of the Safa members. Asked if he would stand again for a fourth term, Jordaan said: 'I don't know if they will nominate me or not. The nominations process is not yet open.' Pressed further to answer yes or no, Jordaan insisted: 'I don't know.' Jordaan was reminded of what his said in June 2022 shortly after his re-election. 'This is my last term,' Jordaan said three years. On Tuesday, Jordaan said 'did I say that', when asked whether he was reneging on his statement. 'Yes, you did,' charged Gana.
