MPs back Dewji’s Simba take over bid

The MPs from the ruling Chama Cha Mapinduzi (CCM) and main opposition party Chadema, gave their stand at a press conference in Dodoma over the weekend, saying it was right time for change in a way club runs its administration. 

Speaking on behalf of others, Chemba MP, Juma Nkamia, who is also the former club’s Publicity Secretary, said that he believes Dewji has a genuine commitment to transform the club’s fortunes and make it run profitably.

 Dewji, alias ‘MO’ wants to own 51 per cent of the club shares, which will make him majority shareholder, while the remaining 49 per cent of the stakes will be owned by other club members. 

Already, Simba leadership has endorsed a move to change ownership structure, which will eventually allow a sale of controlling shares of the club to private investors. Dewji said, if the club approves his offer, a special account will be opened and the 20bn/- will be deposited, in which after five years, it will generate an interest of 3.5bn/-. 

This interest rate will represent an increase of 17.5 per cent of the initial seed money. Dewji expressed his intention to transform the Msimbazi Street team into a mega rich club in Africa, by bringing in top quality players, investing heavily in infrastructures and youth development programmes.

 Outlining his plans to make massive transformation, if he wins his 20bn/- bid to take 51 per cent stake, Dewji said he will also enable all long time members of the club to own a specific amount of shares free of charge and the members will be free to either sell or acquire more stakes at their club. 

He further said that he is determined to raise the club’s budget from the current meagre 1.2bn/- to massive 5.5bn/- each season, which he said; it will transform the club’s fortunes both financially and at the competition level. 

Breaking down the figures, Dewji said a sum of 4bn/- will be spent on running the club matters, including signing new top quality players, paying salaries and other logistics, while the remaining 1.5bn/- will be invested in infrastructure—especially training ground at Bunju, in the outskirts of Dar es Salaam and running youth development programmes.