National Sports

FAM in K423m budget shortfall

 

Football Association of Malawi (FAM)  has pegged its expenditure budget 2018 at K1.2 billion which, however, faces a K423 million deficit.

The association’s revenue for the year is estimated at K829 million.

Presenting the budget at FAM annual general meeting (AGM)  at Sunbird Mzuzu on Saturday, FAM finance and administration director Christopher Mdolo said the deficit is huge and the association will have to meet the shortfall through other means.

Delegates interacting at the AGM

According to the presentation, a big part of the budget will cover operational activities which include national teams’ engagements, grants to affiliates, competitions, press conferences and subscription amounting to K1.1 billion.

The other expenses are for administration estimated at K115 million and capital items pegged at 30 million.

Making his contribution on the budget, Southern Region Football Association (SRFA) chairperson Raphael Humba commended FAM for coming out to have the budget scrutinised at the general assembly.

“Previously, the operational budget was used without approval from affiliates, that was not good. But you have now corrected the anomaly and this should be the way to go,” he said.

On what the association will do to cover the budget deficit, FAM president Walter Nyamilandu said they will embark on other income generating activities, including the sale of national team replica jersey.

“The other measures will be to prioritise events. We will, obviously, leave out those that are less important. We will also be involved in other money generating activities such as selling the replica jersey to clear the deficit,” he said

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