Cricket SA held their first annual general meeting since the new majority independent board was constituted in June and has reported a R221m loss for the 2020/21 financial year.
The summary of the financial report was presented by chairperson of the CSA finance and commercial committee Mark Rayner, who said the organisation is liquid and a going concern.
“But we are pleased with the way the organisation has been able to react and mitigate the impact and bring the expenses down. “It has been a year of lowlights and highlights and like all the other organisations in the world we have been unable to escape the effects of Covid-19,” said Rayner. Rayner thanked the CSA executive management and staff for acting swiftly to mitigate the impact of Covid-19.
CSA’s coffers were also affected in March last year when the Proteas men’s tour to India was postponed and with England abandoning their tour of SA with three ODI’s to play, citing what seemed unreasonable Covid-19 related excuses.CSA improved from a R200m loss for the 2018/19 financial year to a R50m profit in the 2019/20 financial year.CSA board chairperson Lawson Naidoo said the board has hit the ground running and has already held 14 meetings since it came into office on June 22.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Updated BMW X3 is now on sale in SAThe refresh brings with it new styling and updated infotainment
Read more »
Bulls victory closes out 'massive' weekend for SA rugbyIn the second half the Bulls came out with some much-needed fire in the belly.
Read more »
Youth in SA spends over 20 hours a week looking for work - surveyA large number of South African youth spend over 20 hours looking for work in a week. That is approximately three hours a day, including the weekends.
Read more »
Widespread welcome after UK finally removes SA from red list for travellersB4SA welcomes the decision of the UK authorities, saying common sense has prevailed
Read more »
This is how much a decent standard of living costs in SASouth Africans will need to have a monthly income of approximately R7 911 to have a decent standard of living.
Read more »