ZIFA records US$186,445 Surplus in 2024

Rutendo Mazhindu

ZimNow Reporter

The Zimbabwe Football Association (ZIFA) recorded a surplus of US$186,445 for the year ended 31 December 2024, reversing a prior year deficit of US$42,484, driven by a significant uptick in FIFA funding and tighter financial controls.

According to the former President Lincoln Mutasa and General Secretary Yvonne Mapika-Manwa, total revenue closed the year at US$3,073,091, up from US$2,607,731 in 2023, while total expenditure came in at US$2,886,646.

“FIFA grants remained the primary revenue anchor, contributing US$1,624,273 compared to US$846,400 in the previous period,” said Mapika-Manwa.“This injection reflects increased alignment with international governance benchmarks, unlocking more disbursements.”

Sponsorships brought in US$270,000, a 28.6% growth year-on-year, while interest income soared to US$43,545 from US$4,601, indicating better treasury management.

Mutasa said, “We maintained a conservative expenditure regime while scaling up core footballing activities. This was essential to restoring balance sheet stability and investor confidence.”

National teams consumed the largest chunk of expenditure at US$862,653, followed by competition-related costs at US$492,264.

Administration costs were reported at US$494,869, with training and education outlays totalling US$163,789.

Total assets firmed up to US$3,191,448 from US$2,652,732 in 2023, while liabilities tapered off slightly to US$2,672,759. Net reserves rebounded to US$143,961 from a negative US$42,484 previously.

“Our improved cash position now sitting at US$633,625 up from US$468,780 puts us in good stead for short-term liquidity requirements,” said Mapika-Manwa.

Executive remuneration was disclosed at US$81,000 for the full year, with the financials prepared in compliance with IFRS.

“We’re shifting towards a performance-based financial model to sustain football growth beyond grants,” Mutasa added.