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Reserve Bank of Malawi funds Basketball Tournament

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Reserve Bank of Malawi (RBM) Governor, Dr Dalitso Kabambe, through his office, has pumped K2,850,000 to Basketball Association of Malawi (Basmal) towards prizes for King & Queen of the Court Basketball Tournament which started last week in Lilongwe.
RBM has partnered G.Y Imports and Exports which has sponsored the tournament to the tune of K6 million.
Following the partnership, prize money for the tournament has risen. Champions in the men’s category will now receive K2 million, up from K1.2 million whereas the runners-up will pocket K1 million, up from K600,000.
Third-placed team will receive K500,000. In the ladies’ category, the winner will get K1.5 million, up from K1million whereas runners-up will walk away with K750, 000 with the third-place team earning K400, 000.
Basmal General Secretary, Edgar Ng’ong’ola, hailed RBM for the donation.
“This is the first time in Malawi basketball history that a winning team is walking away with as much as K2million in prize money. Let us join hands in thanking our sponsors G.Y Imports and Exports and RBM,” he said.
Minister of Labour, Youth, Sports and Manpower Development, Francis Kasaila, and Kabambe are expected to grace the finals on Sunday.
“We encourage all basketball fans, players and coaches to display their best behaviour on the day as we all try to sell and promote the beautiful game of basketball,” Ng’ong’ola added.
Bravehearts, Magang’a, Courgars and Crazy Warriors have qualified for the semi-finals, which will start tomorrow at Civo Basketball Court whereas Bravehearts Ladies, Angels, Lady Dynamites and Cougars Ladies will battle in the ladies’ category.

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