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Huge turnup for Bingu Stadium potential investors

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Ministry of Sports and Culture on Tuesday received a major boost as 20 potential investors turned up for a consultative tour of Bingu National Stadium in Lilongwe.

The ministry invited chief executive officers and managing directors to appreciate and solicit their views on how best to operate the stadium, which is yet to be used for six months due to uncompleted works.

Chief Sports Officer in the ministry, Joseph Kayamba, described the huge turnup as encouraging, saying the ministry wants to outsource the facility.

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“It is the intention of the ministry that the stadium should be sustained. We intend to outsource services such as cleaning and security,” Kayamba said.

During the tour, some investors expressed interest in the facility.

Riverside Hotel and Conference Centre, Managing Director, Mohammad Firoz Akhter, said they were interested in occupying some spaces at the facility.

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“This is an opportunity that we should use in the right way so that Malawi can be recognised as one of the main sports places in Africa. We believe this facility can be one of the best sources of revenue,” Akhter said.

He also revealed that he is ready to partner the ministry to install e-ticketing gadgets at the facility to maximise gate revenue.

Tobacco Control Commission, Chief Executive Officer, Dr. Albert Changaya, cherished his first visit to the facility.

“I am so impressed that we have such a facility. As a company, we can buy a room and watch the games from here or hold meetings,” Chagaya said.

The stadium needs an estimated K500 million outside Chinese Government funding to be fully completed.

Funds for the completion have since been included in the ministry’s budget for 2016/17 financial year.

Recently Vice-President, Saulos Chilima, also toured the facility and urged the ministry to priotise installation of a sewage system so that the stadium can be used in the short-term.

The facility was constructed through a concessional loan from the Chinese government to the tune of $70 million (K29 billion), repayable in 20 years.

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