Blazers’ troubles give lessons for poor financial literacy

The Namuwongo Blazers players did not receive even a thank you message from the club’s top management for their close efforts to win the 2022 National Basketball League.

It is said, that going into the decisive game seven against City Oilers last October, Farouk Zinda, the Blazers’ chief operations officer promised each player Shs 200,000 if they toppled the Oilers.

But when Blazers lost, allowing Oilers an eighth successive championship, Zinda just disappeared. But even more painfully, is the fact that, as one player who was on the team last season pointed out, they had received no salary since July 2022.

Yet, seeing how the team has now lost its players, before the beginning of the 2023 season: Saidi Amisi, Peter Obleng, Collins Kasujja, Ariel Okall, Dikong Deng and Kenneth Wachira, only emphasizes the governance and management deficiencies at Namuwongo.

Apparently, Blazers suffer from lack of proper communication. Attempts to get Zinda for comment were futile. But the head coach Stephen Nyeko spoke on the matter, admitting that the club only owed the players two months, and not eight as the count stands now.

Nyeko said: “We have had some financial challenges, which we explained to the players, and urged them to be a little patient, as their pay would come in.”

Truly, Blazers’ main sponsor, Flutterwave, a financial services provider, was accused of money laundering last year, which led to the freezing of their accounts by court.

This affected their business. But Flutterwave has recently been absolved of any criminality. One wonders whether the Blazers will clear their players’ arrears especially when they consider how professional these players were, training and playing through hardship until the bitter end.

The Blazers were expected to come back this season as Oilers’ main challengers. But with the player exodus, it is unlikely. That has disappointed Richard Okema, a Blazers fan.

Yet, he hopes management has solutions to keep the team competitive this year. While Nyeko remains upbeat, critics insist that Blazers’ situation shows poor financial literacy on their part; spending so much on foreign players without having sustainable streams of money.