Bonanza fails to hit K50 million target
By Mabvuto Kambuwe:
National Youth Council of Malawi (NYCOM)—organisers of Bingu Ikhome Bonanza—says despite failing to reach the targeted gate revenue, the two-day event was a success.
The bonanza involving eventual winners Blue Eagles, Be Forward Wanderers, Silver Strikers and Nyasa Big Bullets grossed K31 million against the orgnisers’ target of K50 million.
However, NYCOM Executive Director, Dingiswayo Jere, on Monday said they were satisfied with the revenue.
“It was a first tournament for us but we are happy that the fans supported us. We have also received good feedback from other stakeholders that it was a one of the well-organised events, so we are humbled. We hope that, next year, we will make it bigger because we will start planning in good time,” Jere said.
NYCOM organised the bonanza to raise funds to support inter-schools trophies in districts to keep youths busy.
Jere said total expenses of the bonanza were K17 million which included prize money for all the four teams.
Champions Eagles received K5 million, K2.5 million for runners up Wanderers whereas third-placed Silver Strikers and fourth-placed Nyasa Big Bullets pocketed K1.5 million and K1 million, respectively.
Sports and Culture Minister, Francis Phiso, hailed NYCOM for the initiative and urged stakeholders to support it.
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