Capital Oil Refining Industries to buy Kukoma Diamonds

Tom Sangala June 8, 2017

408 1 minute read

Capital Oil Refining Industries (Cori) has launched an ambitious campaign to buy netball giants, Kukoma Diamonds.

Cori has been supporting Diamonds for almost two years now.

The company’s Sponsorship Coordinator, Violet Kapolo, said they would like to become owners of the side and have direct control over its operations.

“This is just a proposal that has been drafted. We feel the team can reach greater heights if we are in total control. Besides, we have noted that there are some problems which exist because we do not own the team,” she said.

Kapolo said the company had engaged the team’s executive committee for guidance and if they are willing, a deal will be sealed.

“We are also consulting other stakeholders and we feel this is a viable project. Team ownership is a common practice all over the world and we would like to encourage it in Malawi netball,” she said.

Diamonds General Secretary, Chimwemwe Bakali, was elusive on the matter, saying it needed the input of various stakeholders.

“Officially we have not been approached but it is a matter that requires input from different stakeholders,” he said.

But Diamonds Captain, Caroline Mtukule-Ngwira, welcomed the move, saying it would help the team to develop further.

“However, I would suggest that Cori comes out clear on what the team stands to benefit should the company buy it. However, this is the way to go because all over the world, teams are owned by individuals or organisations,” she said.

Last season, Diamonds swept all national trophies and reclaimed the Rainbow Paints Southern Region Netball League.

The club was founded around 2005 as a social netball team for Electricity Supply Corporation of Malawi (Escom) employees. Escom then started sponsoring the side before eventually cutting funding in 2011.

The development comes at a time when Malawi National Council of Sports has advised Netball Association of Malawi to embark on commercialisation which includes club licensing.

A similar campaign in football at Nyasa Big Bullets is facing hitches as there are divisions among supporters and officials on whether Nyasa Manufacturing Company should buy the team or not.