Football Association of Malawi (Fam) has pegged its expenditure budget for 2024 at K9.4 billion, up from last year’s K5 billion.
The association announced this Tuesday after it held a consultative budget meeting in Salima District on Saturday.
According to the Fam website, the revenue budget has been increased to K9.4 billion from K4.1 billion last year.
“Fam is forecasting to generate and receive K5.8 billion from Fifa, K1.6 billion from government, K680 million from Confederation of African Football (Caf), K250 million from FDH Bank for Flames sponsorship and K150 million from fundraising activities,” the statement reads.
On top of that, the association is expecting to generate K245 million through business ventures and K33 million from gate revenue for both domestic and international matches.
Out of the K9.4 billion, K2.4 billion is for national football teams, K2 billion for administration expenses and K3.1 billion for capital investments.
The association has also allocated K363 million for capacity building and a similar amount to the cause of youth development.
Fam has also spared K487 million for competitions it funds, notably the National Women’s Championship and Fam Moto Cup.
The association has further allocated K345 million towards governance-related activities.
Meanwhile, Fam President Fleetwood Haiya has said the association will spend wisely.
“Our approach is that we have to spend according to what we have. The resources that we are projecting to raise should equal what we are going to spend. So, our expenditure budget matches the income budget. We are spending more on national teams as we want all the national teams to be in action this year, starting with [the] Beach Soccer [team], which is going to the Cosafa Championship in South Africa,” Haiya said.
Haiya said the association has set aside K251 million for the completion of Luwinga Technical Centre in Mzuzu City.
In addition, the association has allocated K202 million for furniture, staff and bus so that it can be operational by the end of this year.
Sports analyst George Kaudza Masina, who is also Fam former general secretary, said the expenditure budget is justifiable.
“With the devaluation of the Kwacha and the many activities lined up in the year, this is justifiable and it has to be appreciated that [the cost of] almost everything has gone up over the year,” Kaudza Masina said.
Meanwhile, Haiya has lived up to his promise by doubling the annual subvention to member associations to K20 million from K10 million.
Fam has nine member associations namely Super League of Malawi, National Football Coaches Association, National Referees Association, Beach Soccer Association, National Women’s Football Association, National Youth Football Association and three regional associations.
