CSA re-elect president Rihan Richards and announce R815 million profit

Cricket South Africa re-elected president Rihan Richards at this week’s annual general meeting in Sandton, Johannesburg.

Richards has been CSA president since 2021. He succeeded former CSA president Chris Nenzani at the time.

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“The national cricket governing body proudly reported a strong financial performance for the fiscal year spanning 1 May 2023 to 30 April 2024,” read a statement from CSA.

“CSA announced an impressive 170 percent 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 percent of total revenue. The second edition of CSA’s successful SA20 saw a double-digit growth in profitability with CSA’s share of profit being around R54 million.”

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Outgoing CSA chairman Lawson Naidoo added: “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.

“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.”

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