SPORTS IS A FOREIGN EXCHANGE EARNER – ANDREW KAMANGA
Football Association of Zambia (FAZ) President ANDREW KAMANGA says sports is an endeavor from which many countries are earning foreign exchange through remittances by citizens who are applying their trade in foreign jurisdictions, and merchandise and rights sales.
“Our strategic plan is to ensure that national team level football in Zambia attains financial independence through enhanced merchandise sales and other capital raising initiatives in which stakeholders, including ordinary Zambian football lovers, will participate,” said Mr KAMANGA when he called on Finance and National Planning Minister Dr SITUMBEKO MUSOKOTWANE, MP.
The FAZ President was accompanied by FAZ General Secretary REUBEN KAMANGA. They called on the Minister to commence debt swap talks, following an initiative announced by President Hakainde Hichilema, a few weeks ago, aimed at ensuring that FAZ financials attain a more viable outlook. The Government and FAZ owe each other.
And Dr MUSOKOWANE, who maintained a ‘non-aligned stance’ when asked which football team he supports, advised the FAZ delegation to engage the Securities and Exchange Commission and the Lusaka Stock Exchange, with a view to list a bond.
The Minister said “given the importance of sports to economic development, the Government, through the Ministry of Youth, Sports and Arts, will continue to render support within the available means.”
“What is important is for our sportsmen and women to do their best and win trophies. In this way, the visibility of the country in the international community is enhanced. People abroad and overseas begin to look for information on Zambia and some of their search efforts lead to investments and jobs for other citizens,” the Minister observed.