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Mo626 sponsorship up to K450 million

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By Isaac Salima

The basketball fraternity has every reason to walk tall in town as the game is now assured of enjoying one of the country’s best sponsorships ever.

This is after National Bank of Malawi (NBM) unveiled a three-year K450 million sponsorship deal for the Mo626 College Basketball tournament.

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The development marks an increase from the K155 million the bank had been pumping into the competition since inauguration in 2017.

The tournament is for the country’s public and private tertiary education institutions.

Breaking the news at Moneymen Staff Training Centre in Blantyre Wednesday, NBM Marketing and Corporate Affairs Manager Akossa Hiwa said the current economic situation in the country has necessitated the hike.

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Hiwa said they will use part of the money for rehabilitation of basketball courts in selected colleges.

“The tournament is a tool that encourages students to have a 360 approach to life. We hope that this game will foster teamwork and discipline among them. Over the past season, we have seen students being discovered and moving on to play the game at a higher level. It is after reviewing all these positive developments that we decided to increase the sponsorship package,” she said.

Basketball Association of Malawi Vice President Banthari Banda expressed gratitude to the bank for increasing the sponsorship package.

“This is the best Christmas gift we can ever get. It is a landmark achievement for the game. There were conditions that NBM set and we thank all stakeholders for managing to fulfil them. This is what impressed our sponsors and the result is that they are back in a bigger way,” Banda said.

NBM started sponsoring the competition with K30 million before adjusting the amount to K62.5 million in 2018.

Lilongwe-based Malawi Assemblies of God University men’s and ladies’ basketball teams won the last edition of the competition.

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