One of the country’s leading banks FDH Bank plc has cemented its relationship with Football Association of Malawi (Fam) by increasing Malawi National Football Team’s sponsorship to K1 billion in four years from K360 million in three years.
The bank’s Managing Director Noel Nkulichi made the announcement Friday at Mount Soche Hotel in Blantyre.
Under the new agreement, the bank will inject K250 million annually for four years translating to K1 billion.
Previously, FDH was pumping in K120 million per year translating to K360 million in three years.
Nkulichi said they wanted to set another milestone for the Flames.
- Advertisement -
“As you are aware, FDH Bank is a brand that champions growth. We believe in nurturing businesses to flourish, nurturing raw talent to shine at the big stage. In a nutshell, we focus on what is to become-The Future,” Nkulichi said.
The bank first partnered with Fam by sponsoring the national team in August 2016.
Nkulichi said they were swayed by Flames’ performance to consider increasing the package.
“In September 2021, we handed over K360 million sponsorship for the Flames. We have seen the fruits of this investment with the national team’s performance at Afcon 2022 and the Cosafa tournament in South Africa this year where the Flames qualified for the semifinals for the first time in 20 years which is unprecedented.
- Advertisement -
- Advertisement -
“It is in this vein that today, we are happy to announce a further sponsorship of K1 billion to be spread out in the next four years which translates to K250 million per calendar year,” he said.
In his remarks, Fam President Walter Nyamilandu hailed FDH Bank for the sponsorship saying the increase in sponsorship is a morale booster to the team.
“The sponsorship has come at the right time when we did not know where to raise funds to pay for the players’ allowances for the past games.
“We are now fired up because we want to start the March games involving the Flames on a high as our dream to qualify for the World Cup is still much alive,” he said.
Nyamilandu said FDH partnered the association when the Flames were performing poorly.
“You decided to sponsor the Flames, in 2016 when the team was not doing well. Many people had given up their hope on the Flames.
“That is the year FDH Bank took the step of faith and decided to walk the road with us. Today, when we look back, the story of the Flames has changed for the better,” Nyamilandu said.
Following the new arrangement, FDH has now committed to football sponsorship for the Flames to 2027 meaning that it will be over a decade since they started supporting football in the country.
Sports analyst Frank Chakanga asked Fam to continue impressing the sponsor.
“A bird in hand is worth two in the bush. The association should be transparent and accountable to woo the sponsor,” Chakanga said.
