Boxing South Africa is broke
Johannesburg - Boxing South Africa is bankrupt. BSA's executive board member Sakhiwo Sodo revealed the state of the national controlling body's finances, reports the Sowetan.
Sodo said the estimated R5 million that was approved by then minister of sport Makhenkesi Stofile but given to BSA by current minister Fikile Mbalula went towards paying off the body's tax backlog with SARS.
BSA's debt to SARS is estimated to be around R8 million.
The news that BSA owed SARS millions emerged during the suspension on full pay of then acting CEO Loyiso Mtya. Chairperson Peter Ngatane declined to confirm or deny that Mtya had been suspended because of the massive debt to SARS.
Mtya has since returned to BSA but this time as director of operations after the national body could not find grounds to charge him.
This is the position that Mtya held before he was appointed acting chief executive after the departure of Bongani Khumalo two years ago. Mbalula recently appointed Moffat Qithi as permanent CEO.