CSA announces profit for third straight year

2016-09-03 14:07
Chris Nenzani (Gallo Images)

Cape Town - Cricket South Africa (CSA) announced a R107 million surplus, R89 million better than budget, at its annual general meeting held in Johannesburg on Saturday.

The majority of this surplus was achieved through the effectiveness derived from the much celebrated Operating Model and its focus on activity based costs, new revenues generated and the effective management of treasury operations. 

"CSA has again produced a stellar performance in its operations and finances," commented CSA president, Chris Nenzani.

"Contributing to this success was the effective running of the Operating Model that was introduced in June 2014 which resulted in all 14 Members returning better than break-even financial results for the first time. 

"The Incentive Scorecard adopted in the Operational Model also ensured that all Members pursued fresh ideas and efficiencies in their budgeting processes including prioritising various initiatives,” added Nenzani.

Nenzani also addressed the issue of transformation at the AGM.

In his presidential address Nenzani spoke about targets within the national team.

“The very fact that there is a need to set certain targets indicates that the system has not been working optimally to achieve representivity,” said Nenzani.

“We remain in dialogue with the Ministry and the Eminent Persons Group (EPG) in order to find common ground and address those areas where we need to improve. I am confident that our engagements will bear fruits.”

It was also confirmed that a South African black owned auditing firm, Nkonki, has been appointed as the auditors for CSA and its members, franchises and stadiums.

This is another first for cricket as CSA and its members have appointed one audit firm to provide audit services. This will bring efficiencies to the audit process.

“This is a progressive move by CSA and the Members and it re-affirms that cricket is committed to transformation both on and off the field,” added Nenzani.

There were also changes as far as the CSA Board of Directors is concerned.

Gauteng Cricket Board president, Thabang Moroe, was elected as vice-president of CSA.

Western Province Cricket Association president, Beresford Williams, was re-elected on to the Board, while Fa-eez Jaffer, KZN Cricket Union president, and Thando Ganda, Border Cricket Union president, were also elected on to the Board.

CSA Board of Directors:

Chris Nenzani – president

Thabang Moroe – vice-president

Thando Ganda – Non-Independent

Fa-eez Jaffar – Non-Independent

Rihan Richards – Non-Independent

Zola Thamae – Non-Independent

Beresford Williams – Non-Independent

Norman Arendse – Lead Independent

Mohamad Iqbal Khan – Independent

Dawn Makhobo – Independent

Vusi Pikoli – Independent

Louis von Zeuner – Independent

Read more on:    csa  |  chris nenzani  |  cricket


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