It is the first time in the history of the Fifa World Cup that such a trust had been established and Jordaan says Safa will not misuse the R450million, but turn around the development structures as intended.
“We have R450million in that trust and it has two objectives; to fund development and to invest it in such a way that we secure the long-term sustainability of that structure,” he tells snl24.com/kickoff.
“We started off with R450 million and we generated interest of R43 million. We then gave R40million to Safa and we still have R450million. So that’s why we say, we are not just going to hand out that money. We are going to invest it to generate interest to sustain the development programme for at least over 10 years.”
According to Jordaan, a number of projects have already been set-up using the money allocated to Safa.
This includes the Under-13 and Under-15 boys and girls Leagues, which is a critical component of Safa’s Technical Master Plan – the building of a rich and robust talent identification and development pipeline.