Cricket South Africa (CSA) held its Annual General Meeting (AGM) on Saturday in Sandton, where the national cricket governing body proudly reported a strong financial performance for the fiscal year spanning 01 May 2023 – 30 April 2024.
CSA announced an impressive 170% increase in revenue of R1.9 billion and a notable profit of R815 million, marking a significant financial turnaround over the last 12 months. The organisation also reported a positive net cash flow of R793 million.
This performance was largely derived from broadcast rights which contributed 54% of total revenue. The second edition of CSA’s successful Betway SA20 league saw a double-digit growth in profitability with CSA’s share of profit being around R54 million.
Additionally, CSA’s strong financial standing was boosted by the successful hosting of the ICC Men’s U19 World Cup 2024 and the expansion of its commercial portfolio, which saw the renewal of existing commercial agreements and the attraction of new brands into the fold.
Other notable highlights included:
- The launch of the Professional Domestic Women’s League, which awarded 66 professional contracts and created 25 full-time support staff positions.
- R32 million invested in both the Proteas Women and the Domestic Women’s League.
- An increase in mass participation, with 100 000 children engaged annually in the KFC Mini-Cricket programme across over 2 000 schools, reflecting a 20% growth in participation at the grassroots level.
- A partnership with the National Youth Service Programme, providing opportunities for over 2 000 unemployed youth with on-the-job training within various disciplines of cricket.
- CSA continues to operate 70 cricket development hubs across all nine provinces reaching 6 367 players.
- Reaching close to 1 billion viewers across 112 markets globally.
- Signing on five new local and international sponsors.
Outgoing Chairman of the CSA Board Lawson Naidoo said: “Building on these successes affords us more opportunities for growth. The 2023/2024 financial year has highlighted areas where we can build on these foundations and achieve greater stability and sustainability.
“CSA’s strategic framework, underpinned by our four-year budget planning cycle, is positioning us to seize these opportunities and reach our objectives. In addition to building strong revenue streams, we have a focus on cost structures enabling an accumulation of reserves to return the organisation to its strong pre-COVID financial position and see the organisation through the next few years.
“Strengthening our governance structures, advancing player development and enhancing our sustainability efforts are all critical areas where we can make meaningful progress. We cannot do this alone. Our strategic partnerships with our various cricket communities, affiliates, commercial partners and the international cricketing community will remain essential in driving these initiatives forward.”
Reflecting on the current Board’s tenure, Naidoo added: “I feel a deep sense of pride and optimism for the future of cricket in South Africa. We are in a much healthier space than we were just a few short years ago. Credit must also be accorded to the players and team management as well as the CEO and his staff at CSA.”
ELECTIONS
The following Office Bearers and Board positions were voted for:
CSA President
- Mr. Rihan Richards (re-elected)
CSA Vice President
- Dr. Mohammed Moosajee
Non-independent Directors
- Mr. Yunus Bobat – KZN Coastal Cricket Union
- Mr. Michael Eksteen – South-West Districts Cricket Union
Independent Directors
- Mr. Vuyani Jarana
- Mr. Mark Rayner (re-elected)
- Ms. Muditambi Ravele (re-elected)
RETIREMENTS
- Mr. Lawson Naidoo (outgoing Chairman)
- Mr. John Mogodi
- Mr. Simphiwe Ndzundzu
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