Question NW280 to the Minister of Sports, Arts and Culture

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06 March 2020 - NW280

Profile picture: Shaik Emam, Mr AM

Shaik Emam, Mr AM to ask the Minister of Sports, Arts and Culture

(1) Whether he has been informed of the estimated R1 billion of the 2010 Soccer World Cup Legacy Fund which is unaccounted for; if not, what is the position in this regard; if so, (2) whether he intends to ask the President, Mr M C Ramaphosa, to establish a commission of inquiry to ascertain what happened to the specified funds that are unaccounted for; if not, why not; if so, what is the position in this regard?

Reply:

1. No. The Minister has not been informed of the estimated R1 billion of the 2010 Soccer World Cup Legacy Fund which is unaccounted for. According to the 2010 FIFA World Cup Legacy Fund;

(a) The 2010 Soccer World Cup Legacy Fund received R450,762,816 only.

(b) Budgets are presented and approved by the Board of Trustees.

(c) Ernst and Young are an independent financial platform that supports the administration of the Trust’s finances.

(d) The funds are audited annually by PwC and presented to the Board of Trustees.

(e) The Administration of the Trust reports to the Board of Trustees.

(f) The Trust is a joint Trust between SAFA and FIFA which is represented by its CFO on the Board of Trustees.

2. No. The Minister does not intend to ask the President, Mr M C Ramaphosa, to establish a commission of inquiry to ascertain what happened to the specified funds.

(a) The Minister has not been presented with any information that warrants that a Commission of Enquiry be established by the President.

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