Home Uncategorized FMU clears debts, outlines financial Projection of 2.7 billion shillings

FMU clears debts, outlines financial Projection of 2.7 billion shillings

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The Federation of Motorsport Clubs of Uganda (FMU) has outlined a financial projection of 2.7billion shillings to run the sport in 2021.

Amongst the strategic plans to be zeroed on include creating more incomes resources like selling FMU as a brand on its platforms ie social Media to advertisers/sponsors, sourcing up for development partners after tapping up Development Infrastructure Limited(DI) an Arua-based firm planning to take the sport to West Nile, annual affiliations by clubs & drivers.

The Marketing and sponsorship commission is robustly going to roll out plans for income generation to the Federations in the Finacial year 2021/22.

On the issue of debts inherited from the previous administration, the new Execom after holding talks with debtor Prime Finance limited and consented to a payment of 55million ugx instead 76millions that has raised with interest, recovered from it with the sale of the popular Boxing-Day sprint to Central Motors Club at abid of 60million ugx.

With the Covid19 pandemic destabilizing 2020 annual competition calendar,the later club is expected to organize their bought sprint this year.

Regarding resumption of the competition calendar, the Federation is eying late March 2021 as for the season to reeve off if government clears open events.

The opening event is to be organized by Southern Motors Club(SMC) as a continuation of the 2020 seasonal calendar.

Club has been tasked to adhere to the set out Covid19 SOPs by National council of Sports.

At the closure of the AGM held at Kabira country club, NCS representative assistant general secretary David Katende Ssemakula,applauded FMU marketing team for the impressive marketing strategic frameworks presentation that was done by former rally driver Peter Kakaire.

He further advised FMU president Dipu Ruparelia to present it before NCS for government attraction into the federation plans.

The unfinished issues will be discussed at the next meeting of the AGM.

Credit to Frank Kaheesi & Aaron Nsamba FMU PRs

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