For Immediate Release
Kampala, Uganda – Saturday 30th January, 2021,
It gives me great pleasure to report on yet another year of great improvement on the financial performance of KCCA Football Club.
Our financial performance improved for the FY 2019-2020 compared to 2018-2019. The Club reported a net loss of 42M for 2019-2020 compared to 527M for 2018-2019.
We are grateful to all the stakeholders who made this possible, and special mention goes to The Federation of Uganda Football Associations for offloading the cost of air travel from the Clubs representing Uganda in CAF Competitions. KCCA our mother body, sponsors and partners like StarTimes, MTN, Britam Insurance, Vivo Energy, Next media, NC beverages, Prime media, Century Cinema, Ambience and from our fans.
In addition, we made substantial improvement on our path to making the club self-sustaining as the revenue from football activities increased in 2019-2020 to 76% of total revenue compared to 67% for the FY 2018-2019. This was achieved through improving player sales revenue, merchandise sales and better collection of stadium hire revenue.
We are also publishing audited financial statements as part of the process of increasing transparency around the operations of the Club for all stakeholders. We are committed to this process because it helps us to push ourselves further as we seek accountability and improvement.
The football industry like all other sectors was greatly affected by Covid-19 and the impact of this pandemic is expected to continue into the new season. However, we are looking at various avenues through which the club can generate more revenue to keep KCCA Football Club the leading team in CECAFA. Great improvements have also been made in the current ratio of the Club. Whereas the Club is not yet where we want it, the liquidity of the Club in the FY 2019-2020 shows a great improvement.
We commit to continue operating a good financial model that keeps the standards of the Club as a continental brand while we pursue self-sustainability.
Find attached below the detailed Financial Statements for 2019/20