R6.28m debt to Boxing SA is held by 27 promoters, says acting CEO

Twenty-seven promoters owe Boxing South Africa (BSA) R6.28m, acting CEO Mandla Ntlanganiso said at the weekend.

The newly appointed board, which held its fourth meeting since taking office early last month, told the indebted promoters to pay 30%.

At a press briefing at the weekend, board member Luvuyo Bayeni said the amounts owed varied from promoter to promoter.

It is believed one is in the red to the tune of R2m.

Asked after the briefing if the R6.28m debt listed in the BSA annual report from last year was entirely comprised of promoters’ debt, Ntlanganiso said it was, adding the number of promoters was 27.

Bayeni confirmed Andre de Vries would continue as chair of BSA’s ratings committee, while he would head the sanctioning committee.

Board member Nandi Mheshe is chair of the women’s committee.

Bayeni, addressing media at a hotel near OR Tambo Airport, said the board would be boxing-centred and encouraged stakeholder engagement, especially in the next few weeks so talks could inform their first big presentation to government at the end of the month.

Another board member, Luxolo September, said the executive’s mantra was they were open to dialogue with all licensees.

Bayeni stressed they wanted to ensure good governance and said the board would not be involved at an operational level.

“We want to improve investor confidence,” he said.

Finding sponsorship was an important part of the board’s mandate, according to former sport minister Zizi Kodwa who appointed them.

Ntlanganiso said BSA’s government allotment had remained at about R19m for this financial year.

BSA regulates professional boxing, which has been through a tough time in recent years.

The previous board was accused of flouting boxing legislation on a few occasions while its management of affairs also came under question, such as allowing the coffers to run dry soon after their term ended in December last year, more than three months before the end of the financial year.

Another challenge facing the sport is the poor state of the amateur game, which results in low numbers of competent fighters turning professional.

Bayeni said development was on the board’s radar.

Board chair Sifiso Shongwe attended the board meeting virtually.