Sascoc builds its financial muscle

The South African Sports Confederation and Olympic Committee (Sascoc) has painted a glowing picture of its finances at its annual general meeting in Johannesburg.

Sascoc President Barry Hendricks says the once cash-strapped sports governing body has done well in improving its image and turning around its finances.

“Sascoc is in a financially strong position. We are proud to have received an unqualified audit and we have seen a significant increase in revenue thanks to our sponsors and partners.”

Chief Executive Officer (CEO), Nozipho Jafta, says the body has received a clean audit for the 2023/2024 financial year and will close the year with a healthy bank balance.

“During the year under review, we actually secured a cash sponsorship of R66 million from Bidvest for the next four years. Through the sponsorship, we could relaunch operation excellence and support over 80th athletes.,” she says.

Jafta further adds: “We have also made significant strides in enhancing the Sascoc and Team SA brand. We are no longer on the front pages of newspapers for the wrong reasons but on the pages because of the performance of our athletes.”

All the country’s sports federations, including the South African Football Association (SAFA)and SA Rugby, were represented at the sports governing body’s annual general meeting.

Among the issues looked at was the sports governing body’s performance over the last financial year, and athletes’ and federations’ successes while also charting the way forward.

Meanwhile, Hendricks, who was elected president of the body in 2020, has encouraged members to avail themselves for nomination to the new SASCO Board, with elections set to be held later this year.

Sascoc reports strong finances