The country’s parliamentarians and Simba SC well-wishers echoed their views as reaction to the proposed sell of the club’s share to a prominent businessman, Mohamed Dewji as revealed in the club’s Annual General Meeting held at Oysterbay Police Mess in Dar es Salaam over the weekend.
The figures that insisted scrutiny and proper handling of the proposed deal include the Minister for Information, Culture, Arts and Sports, Nape Nnauye, an outspoken MP and popular figure from the opposition, Zitto Kabwe, Kigoma Urban MP and Julius Mtatiro from Civic United Front (CUF).
Minister Nnauye supported the intended transformation, but warned the club to ensure its implementation is handled properly, in order to make it profitable to the club.
“If properly implemented, the share system management will grade the members’ commitment through what they have contributed through buying shares,” said the minister. But, Kigoma Urban MP sees a brighter future in Tanzanian soccer if the deal brings the intended changes in the club.
However, Kabwe joined many others who disputed the 51 per cent share at the cost of 20bn/- as proposed by Dewji. Kabwe says 51 per cent share is too big and proposed at least 40 per cent be offered to him. “20bn/- endowment fund for Simba SC is one of the best proposal since if banked it can generate an interest that can help the club run its business,” he noted. However, he said Simba is an asset, like what popular university such as Harvard depends on endowment fund to operate.
“If there is a good financial management, I hope Simba will have the best squad formed by well drilled youth from its academy as it is in all big European clubs,” Kabwe posted in his facebook.
Kabwe, however, opposed a proposal of one person to own more than 40 per cent share and suggested the following format instead. He suggested an investor of MO calibre to have 40 per cent and the contract should have a share after opening endowment fund account of 20bn/- and he should be given a mandate to pick trustees.
He went on to tell that an investor can be free to close down the fund when he is not satisfied with the expenditure of the endowment fund. Adding he suggested the remaining 40 per cent be given to all members of the club and added their shares to be listed at Dar es Salaam Stock Exchange (DSE).
However, according to Kabwe, a member can be free to sell his or her shares when necessary. He suggested the last 20 per cent also be listed at DSE for the non members to boost the club’s capital.
He said the disclosure rule will enable club members to be informed on what goes on at the club. However, he sensed allowing MO to own 51 per cent of shares is not right since it can deny other individuals and corporate an opportunity to buy shares at the club.
“Endowment fund system is foolproof, lets not waste this opportunity since it can help the club attain the desired transformation goal,” he said.
Kabwe concluded by advising the management of Simba to seek advice from experts and take their advices on the details of the contract. Explaining further prominent politicians from Civic United Front (CUF), Julius Mtatiro supported the intended reforms at Msimbazi Street Club and advised members to give it more weight.
Mtatiro, however, cautioned those who doubt Mo’s proposal of 51 per cent share that it doesn’t mean he is buying the club. He said he looked both Simba and their traditional rivals, Young Africans as big brand despite lacking big movable and immovable assets.
“They don’t have big cash in their deposit, if the investor uses them as brand he can generate a big profit,” he said. “It is my opinion that there should be a fair deal. If Pogba can be sold at 200bn why Simba should be valued at 20bn?” he queried.
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