BFA discovers P5m deficit
In a significant turn of events for the Botswana Football Association (BFA), the newly appointed National Executive Committee (NEC) has unveiled a shocking deficit of 5 million pula following their takeover in September.
The BFA President, Tariq Babitseng has underscored the necessity of conducting a comprehensive forensic audit to unravel the details of the BFA's financial dealings. This proactive step aims to instil transparency and accountability, ensuring that the association can move forward with integrity and restore confidence among stakeholders in Botswana's footballing community.
Addressing the media this week, Babitseng revealed that while a forensic audit has not yet been conducted, the association has discovered a deficit of 5 million pula.
He acknowledged the seriousness of the financial situation but noted that, at this point, they cannot provide detailed insights into the specific expenditures that led to this deficit.
To ensure a fresh start, Babitseng emphasized the importance of conducting a thorough forensic audit. This audit will aim to uncover the financial practices of the past and bring clarity to the situation.
The BFA's goal is to operate from a clean slate, restoring trust among stakeholders and fans alike. By prioritizing accountability and transparency, the association hopes to pave way for a more sustainable future for football in Botswana.
“As the NEC, we have also implemented cost mitigation strategies, which will be shared with everyone. We have realized that at times we spend money that we do not have, which is not right. Therefore, we felt the need to work on our budget and to clarify what we are spending our money on,” he said.
BFA is currently embroiled in a controversy regarding the alleged misuse of association funds by the previous administration. Reports have emerged accusing several high-ranking members of the Association of taking short loans from the BFA, raising significant concerns about the management and oversight of financial practices within the organization.
Bank statements that surfaced two months ago appear to support these allegations, revealing transactions that indicate money leaving the BFA's account as short loans. This situation has cast a shadow over the credibility of the association and has led to a growing public outcry for transparency and accountability.