On Monday (29 July 2013) the LOC delivered the highly anticipated AFCON 2013 Report and Financial Results to the media at SAFA House. The LOC Chairperson, Chief Mwelo Nonkonyana could not hide his excitement when he said: "It gives me great pleasure to present to SAFA, the LOC Shareholder, AFCON 2013 Report which not only details how the tournament was executed but also clearly depicts a positive financial position for the tournament. As the LOC we had committed to SAFA, and to our country that this tournament will be cash positive and that is exactly what we are presenting to you today".
Chief Nonkonyana praised the LOC management team under the leadership of the CEO, Mr. Mvuzo Mbebe for delivering in accordance with the LOC Board's objectives as well as the country's expectations.
The press conference started with the handing over of AFCON 2013 Report to government, and was received by the Hon Minister of Sport and Recreation, Mr. Fikile Mbalula, who praised the LOC for ensuring that the country continues to own the mantle of hosting best and successful event.
Also receiving the same report from the LOC was SAFA, which was presented to the SAFA President, Mr. Kirsten Nematandani. Accepting the report, from the Honorary President of SAFA, Dr Oliphant, Mr. Nematandani said: "with this report, the LOC has accounted for the tournament. SAFA is now closing this chapter and the next chapter is CHAN 2014'.
Dr Oliphant said the LOC was leading 1:0 as a result of AFCON 2013 but it is only the first half and that the second half is CHAN 2014. He encouraged the LOC to increase its lead when the second half starts next year.
An enthusiastic, Mr. Mbebe said the tournament did not only deliver record stadium attendance in the history of the cup competition it also achieved positive results for SAFA. The LOC reported a net profit of R3.6 million against project profit of only R535 139.00, which is R3 million better than envisioned.
Talking to the media after the shareholder's meeting, Mr. Mbebe highlighted a few contributing factors that ensured such a positive financial outcome, which were (i) driving stadium attendance (which shot to 753 139), driving public ticket sale, driving corporate hosptitality sales, and securing sponsorships for the tournament. Furthermore he stated that revenue maximization was realized from television broadcast rights, income received from CAF, as well as government funding and other grants.
Mr. Mbebe further thanked SAFA for their guidance, broadcasters and the media who too the tournament to Africa and the world, LOTTO for the funding of volunteers, CATHSSETA, Services SETA for funding an extensive internship programme, and the fans who came out in numbers, as well as management and staff who stuck to the mandate of the LOC. He also thanked the only 2 local sponsors, Tsogo Sun for accommodation and PRASA for public transport as well as the host broadcaster, the SABC.
Finally, the CEO concluded by saying "the Beat at Africa's Feet resonated throughout the continent and was felt by the world at large. Through football we truly celebrated Africa".
On Monday (29 July 2013) the LOC delivered the highly anticipated AFCON 2013 Report and Financial Results to the media at SAFA House. The LOC Chairperson, Chief Mwelo Nonkonyana could not hide his excitement when he said: "It gives me great pleasure to present to SAFA, the LOC Shareholder, AFCON 2013 Report which not only details how the tournament was executed but also clearly depicts a positive financial position for the tournament. As the LOC we had committed to SAFA, and to our country that this tournament will be cash positive and that is exactly what we are presenting to you today".
Chief Nonkonyana praised the LOC management team under the leadership of the CEO, Mr. Mvuzo Mbebe for delivering in accordance with the LOC Board's objectives as well as the country's expectations.
The press conference started with the handing over of AFCON 2013 Report to government, and was received by the Hon Minister of Sport and Recreation, Mr. Fikile Mbalula, who praised the LOC for ensuring that the country continues to own the mantle of hosting best and successful event.
Also receiving the same report from the LOC was SAFA, which was presented to the SAFA President, Mr. Kirsten Nematandani. Accepting the report, from the Honorary President of SAFA, Dr Oliphant, Mr. Nematandani said: "with this report, the LOC has accounted for the tournament. SAFA is now closing this chapter and the next chapter is CHAN 2014'.
Dr Oliphant said the LOC was leading 1:0 as a result of AFCON 2013 but it is only the first half and that the second half is CHAN 2014. He encouraged the LOC to increase its lead when the second half starts next year.
An enthusiastic, Mr. Mbebe said the tournament did not only deliver record stadium attendance in the history of the cup competition it also achieved positive results for SAFA. The LOC reported a net profit of R3.6 million against project profit of only R535 139.00, which is R3 million better than envisioned.
Talking to the media after the shareholder's meeting, Mr. Mbebe highlighted a few contributing factors that ensured such a positive financial outcome, which were (i) driving stadium attendance (which shot to 753 139), driving public ticket sale, driving corporate hosptitality sales, and securing sponsorships for the tournament. Furthermore he stated that revenue maximization was realized from television broadcast rights, income received from CAF, as well as government funding and other grants.
Mr. Mbebe further thanked SAFA for their guidance, broadcasters and the media who too the tournament to Africa and the world, LOTTO for the funding of volunteers, CATHSSETA, Services SETA for funding an extensive internship programme, and the fans who came out in numbers, as well as management and staff who stuck to the mandate of the LOC. He also thanked the only 2 local sponsors, Tsogo Sun for accommodation and PRASA for public transport as well as the host broadcaster, the SABC.
Finally, the CEO concluded by saying "the Beat at Africa's Feet resonated throughout the continent and was felt by the world at large. Through football we truly celebrated Africa".
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