CDH makes sensational return
By Isaac Salima:
CDH Investment Bank has made a sensational return to basketball with a K15 million sponsorship of Southern Zone Basketball League (Sozobal).
This is a five-fold increase from last year’s K3 million.
From the new package, K10 million will be used for the 2023 CDH Investment Bank Cup ‘Money in the Bank’ tournament.
The bank will channel K5 million towards the 2022-2023 end-of-season CDH Sozobal play-offs slated for next month upon conclusion of league games.
Speaking during the signing ceremony of the new sponsorship, CDH Chief Credit Officer Sungani Mkandawire said they believe the hike is worth the efforts that were put into last year’s competition.
“We felt compelled to increase the amount after being satisfied with how the tournament was run last year. It is all about creating value through the sponsorship. Basketball is developing well and it is our hope that the sponsorship will result into further development of the game across the region.
“We would like to see basketball being played at all levels from primary school to college. This will result into a strong national team,” Mkandawire said.
Sozobal Chairperson Raymond Chioko said he was grateful that the sport continues to get recognition.
“This sponsorship hike now pushes the pressure on to us, as administrators, to impress. We need to ensure that the league is being run professionally so that it can attract more sponsors. We hail the bank for the increase, which will help us accommodate more teams,” Chioko said.