ABOUT E1M BUDGET FOR OLYMPIC GAMES

MBABANE – EOCGA  has budgeted E980 000 for the Summer Olympic Games set to be hosted in Paris, France, next year.

This is contained in the association’s staggering E12 515 829 budget for the current financial year which began on October 1, 2023 and will end on September 30, 2024. The budget was passed at the Eswatini Olympic and Commonwealth Games Association (EOCGA) Ordinary General Assembly, which was held at the Happy Valley Hotel in Ezulwini on Saturday. In the financial reports presented by Treasurer Zakhele Zulu, EOCGA anticipates spending an overall amount of E2 230 000 on both local and international games. They will further spend a gigantic amount of E1 250 000 on Africa Games.

On a positive note, EOCGA is expected to cut electricity and water bill costs. They have envisioned spending an amount of E25 000, which is a decrease from the E36 061 spent in the past year. Meanwhile, at least E100 000 is budgeted for marketing and development, while E12 500 will be channelled towards subscriptions. Worth mentioning is that only E180 was used for the same expense in the actual budget.

Budget

Zulu highlighted that the budget has been drafted from monies said to be received from TOP Programme, solidarity administration grant and Associations of National Olympic Committees of Africa (ANOCA) activities grant. Eswatini Sports and Recreation Council will pump in E1 300 000 for 2024 year. It is worth noting that no Eswatini athlete has qualified for Summer Olympic Games as yet. This is contained in the report by the Secretary General (SG) Maxwell Jele. However, that is no train smash as there is a window to make the cut through universality slots. Universality places are given to athletes from countries that struggle to secure slots in the Olympics through normal qualification channels. The IOC said there were nine universality places for boxing in Paris, with five for women and four for men. In addition, EOCGA will now use the services of FIPS Chartered Accountants as auditors. This is a result of their several years’ relationship with Kobla Quashie and Associates coming to an end.
(More reports in next publication)

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