AFC Leopards set for pivotal AGM amid surge in membership and revenue

©AFC Leopards

AFC Leopards set for pivotal AGM amid surge in membership and revenue

Festus Chuma 10:47 - 29.06.2024

Ingwe's AGM will focus on financial growth, member increase, and strategic discussions at Kasarani Auditorium, with over 5,000 attendees expected.

AFC Leopards are set to host a significant Annual General Meeting (AGM) on Sunday, 30th June, at the Kasarani Auditorium Indoor Arena.

Scheduled to commence at 09.00 am, this year's assembly is poised to draw an attendance exceeding 5000 members, reflecting the club's robust membership base and its critical role in Kenyan football.

The AGM is an essential fixture in the club’s calendar, providing a platform for members to review the past year and set the course for future undertakings.

Among the key items on the agenda is the approval of the minutes from the 2023 AGM, which serves as a formal endorsement of last year's resolutions and actions.

Another focal point of the meeting will be the chairman’s report, a comprehensive review of the year's achievements and challenges.

The report is crucial for members to understand the club's direction and the management's vision.

Financial transparency is a cornerstone of trust between the club and its stakeholders hence a significant portion of the meeting will involve the presentation and adoption of the Financial Statements for the year ended 31st December 2023, alongside the Auditor’s report.

The appointment of the Independent Auditors for the year ending 31st December 2024 is also on the agenda.

The meeting will also address any other business deemed necessary for the progress and well-being of the club, with provisions made for issues brought forward by the members, ensuring a democratic process.

Financially, AFC Leopards has seen significant growth, with revenues rising impressively from Ksh 67,423,245 in 2022 to Ksh 103,167,127 in 2023.

This increase is attributed mainly to a lucrative sponsorship deal with a gaming firm, substantial gate collections from the club’s large fanbase, and active membership registration and renewal activities.

Furthermore, a recent broadcast deal by the Football Kenya Federation with Azam TV promises to bolster the club's finances further through shared revenues.

Despite the financial uptick, the club has faced considerable expenses, primarily due to substantial investments in player acquisitions following the lift of a transfer ban last August.

The club signed more than ten new players, including six from Nzoia Sugar, leading to increased expenditures through transfer fees and salaries.

Compounding the financial strain, negotiations with former coach Patrick Aussems over unpaid dues and the settlement of a Ksh 500,000 fine by the FKF for hooliganism have also been significant.

Leopards' Secretary General Gilbert Andugu emphasizes the importance of member engagement.

"I cannot comment on it now. Let members go through it then all the questions and concerns we shall deal with them at the AGM," he said in an earlier interview.

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