FDH Bank unveils K360m netball deal
The netball fraternity was filled with joy as FDH Bank unveiled its three-year K360 million partnership with Netball Association of Malawi (Nam) at Amaryllis Hotel in Blantyre Tuesday.
Following the partnership, the Queens would be getting K100 million annually for three years whereas K45 million is meant for national netball cup during the period.
Nam will also each year get K5 million for administration.
FDH Bank acting Managing Director, William Mpinganjira, said they decided to support the sport because it lacks necessary support despite being the pride of the nation.
“No bank believes in the potential of Malawi than FDH Bank. We observed that netball despite being the pride of the nation, has been lacking necessary support, structures and resources.
“We are happy to unveil a three-year sponsorship of K360 million. K300 millions will go directly towards sponsoring the Queens. K45 million will fund a netball cup and K15 million will be used to run Nam administration,” he said.
Mpinganjira said the bank was not a stranger into sports having been sponsoring Mayors Trophy and also the Malawi national football team.
“We have invested close to K100 million in Mayors Trophy in the past three years to promote talent at grassroots level and we have invested K450 million in Fam FDH Cup for a three-year period,” he said.
Nam President, Khungekile Matiya, said it was a win-win situation.
She said the sponsorship can help the Queens regain Africa’s top ranking.
“We will ensure that our girls open bank accounts with FDH Bank. We promise to make sure that the team continues to impress. We want the Queens to reclaim Africa’s top sport in the rankings. We want the Queens to break into the top four in the world,” she said.
Chief Director from Ministry of Youth, Sports and Culture, Martin Kadzuwa, hailed the bank for the sponsorship.
Nam General Secretary, Carol Bapu, Queens Coach Peace Chawinga-Kaluwa, Malawi skipper, Caroline Mtukule-Ngwira and some senior side players were in attendance.
Nam recently endured a bad spell after losing sponsorship from Rach Family Trust and Airtel Malawi.
