The Sunday News
THE country’s beleaguered football governing body, Zifa has enlisted the services of accountants PricewaterhouseCoopers (PwC) and marketing consultants OpenMinds as they seek sponsorship to stem financial problems facing the association.
A dedicated bank account that would be managed by PwC has been opened to receive and distribute all monies that potential sponsors or well-wishers may contribute. The involvement of PwC is to ensure the funds are handled in a transparent manner. OpenMinds’ Darren Thompson said it was imperative that the account is the only channel funds are received through and not via Zifa or any affiliated associations.
“It has been recognised that sponsor-fatigue is largely attributable to cases of mismanagement of funds and misdirection of resources, resulting in little return on the sponsor’s dollar and poor incentive to continue the investment hence Zifa has taken unprecedented steps to rejuvenate flagging public and corporate sponsorship interest in the national brand,’’ said Thompson in a statement on Friday.
“Zifa, in a serious show of intent, have engaged PwC and their mandate will be to administer and manage the financial activities of a soon-to-be-launched new governing Sponsor Trust body, constituting representatives of the anchor sponsors themselves. This unique board structure will ensure finances are utilised for their intended purpose and to best effect, while eliminating the potential for corrupt practise. Zifa’s commitment to a strict adherence to proper corporate governance and transparent accountability will see investor confidence strengthen, resulting in secure and profitable sponsorship associations, for the ultimate benefit of football in Zimbabwe.”
As well as creating and managing this synergy between Zifa and PwC, marketing and advertising company OpenMinds Digital is now tasked with repositioning the Zifa brand attractively in the market’s perception, as well as spearheading sponsorship recruitment initiatives.
Thompson said they would be hosting a formal breakfast function for prospective VIP anchor sponsors at the Meikles Hotel next week, presenting Zifa’s new direction and outlining mutually-beneficial opportunities for corporate involvement.
He said they wanted to raise money to reward the men’s and the women’s senior national teams following successful campaigns that saw them qualify for the 2016 African Nations Championship (Chan) and 2016 Olympic Games respectively.
Zifa is $6 million in the red and has had several of its properties auctioned to settle debts. The football mother body has struggled to raise funds to finance national team assignments with players revolting on several occasions in order to get their allowances.
