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FKF president Hussein Mohammed has given reasons why their debts have increased by Ksh200 million in two months and the federation’s plan to clear it.
Football Kenya Federation (FKF) president Hussein Mohammed has explained how the federation’s debts have ballooned from close to Ksh400m million to over Ksh600 million in just two months.
FKF had in April revealed that it owed its creditors over Ksh380 million following an audit by a Transition Ad-hoc Committee chaired by Vice President McDonald Mariga, but now Mohammed says they are in arrears of over Ks600 million.
“Our debt portfolio is over $5 million, over Ksh600 million and we are working day and night to make sure that we settle these issues as quickly as possible,” Mohammed said on Citizen TV on Monday, before revealing the cause of the increase.
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“We were still in the initial phase of taking over office [when committee sat] but over time, other creditors now start coming up that we had not noticed or some documents were not available and then lately, we also got a sanction from the FIFA disciplinary committee on Zoo Kericho cases of 2020 match fixing.
FKF Mooting Payment Plan for Huge Debts
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“We are to pay 110,000 Swiss Franc which we have not paid. We have got about three cases that have gone against us at FIFA so this has increased again the amount of money we owe to all our creditors, including FIFA,” he added.
The federation boss says his organisation has come up with a plan of how to solve their debts thanks to some help from FIFA.
“We had two induction sessions with FIFA. I have met [FIFA president Gianni] Infantino we spoke to deputy director and we had another induction here and they are happy with the progress,” he added.
“We are discussing terms of payments, how we will settle those debts and arrears. We are still at audit level where some we want to ask for complete write off and it is a negotiation process.
Where Will Broke Federation Get Money From?
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“There are about four or five cases that are urgent, what we are calling high-risk debt. We are coming up with a plan to settle those in the next one-and-a-half years in terms of payment plan. We have to face our challenges head on and we have to find solutions.”
With such huge debts and payment plan being mooted, where does a cash-strapped FKF plan to get money from?
“We are in discussion with FIFA to see how we can access some funding from our operational costs, the development fee, government of Kenya who have been very helpful and Ministry of Sports,” said Mohammed.
Mohammed remains confident that FKF will still meet its operational costs despite the financial challenges.
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