FAZ Plans to Issue a $10m Chipolopolo Bond

The Football Association of Zambia -FAZ- says it is taking steps to attain financial independence to sustain its activities and reduce dependency on Government.

FAZ President ANDREW KAMANGA says the association has pushed for the floatation of the 10 million dollars Chipolopolo bond which will help raise money for operations.

KAMANGA says the FA has also embarked on a process to restructure its debt and balance sheet through proposed debt-swap arrangements with institutions such as the Zambia Revenue Authority whom it owes money.

KAMANGA was speaking during the opening of the 2024 FAZ Annual General Meeting.

Meanwhile, Youth, Sport and Arts Permanent Secretary KANGWA CHILESHE urged FAZ to do everything possible to get the much needed positive results from the men’s and women’s national football teams.

KANGWA said Zambians are passionate about sport and the Government will continue giving the necessary support to federations and associations in every way it can.