Online Reporter
Nqobile Bhebhe,Zimpapers Business Hub
THE Zimbabwe Football Association (Zifa) has published its audited financial statements for the year ended 31 December 2024, in a move that underscores the association’s growing commitment to institutional integrity and transparency.
The financial report reveals a substantial 162 percent increase in revenue, highlighting a positive financial trajectory for the country’s football governing body.
Zifa President, Nqobile Magwizi said the Association recorded revenue of US$4,142,875 in 2024, a significant rise from US$1,582,432 in 2023.
“Revenue for the year ended 31 December 2024 was US$4,142,875, compared to US$1,582,432 for the same period in 2023, representing a 162 percent increase,” said Mr Magwizi.
“This growth reflects increased funding from Fifa, allocated mainly towards international football competitions,” he added.
The publication of the financials is part of a broader governance reform initiative spearheaded by the new Zifa executive, which is focused on restoring credibility and strengthening stakeholder trust through accountability.
Magwizi reiterated that financial transparency and sound governance were non-negotiable principles for the Association.
“Accountability and fiscal transparency are non-negotiable pillars in rebuilding the Association’s credibility,” he said.
According to the audited report, total expenditure for the year stood at US$3,702,495, up from US$1,523,312 in 2023.
The increase was attributed mainly to costs associated with participation in international competitions and ongoing administrative restructuring aimed at building long-term sustainability.
Despite the rise in spending, Zifa posted a net surplus of US$400,439 in 2024, a marked improvement from the US$69,417 recorded the previous year.
The financial results are expected to bolster confidence among stakeholders, including sponsors, fans, and regional football bodies, as Zifa charts a new path grounded in professionalism and sound financial management.
