FDH Bank has reaffirmed its commitment to support football and netball in the country despite challenges resulting from the economic impact of the coronavirus.
In a statement yesterday, FDH Bank managing director Elias Ngalande said although the banking business is facing serious challenges as a result of the global pandemic the bank will honour the football and netball sponsorship it made last year.
He said: “As a home-grown bank that champions growth, FDH Bank takes keen interest in the development of sports in the country and remains a dedicated partner to the sports fraternity.
“Covid-19 has hit the banking business hard, but we will not make any changes to our commitment to football and netball sponsorship in the country. We recognise the potential of Malawians and we support progressive initiatives.” Last year, the bank unveiled a historic K450 million five-year sponsorship for a football cup whose inaugural contest was expected to run between May and September. It also offered a K360 million three-year sponsorship for Malawi Queens and a netball cup.
Besides, there is also K55 million for mayor’s football and netball trophies for primary schools, which will see champions from Lilongwe, Mzuzu, Zomba and Blantyre compete in an inter-city grand final. In interviews yesterday, Football Association of Malawi (FAM) and Netball Association of Malawi (NAM) officials said they are confident that their respective disciplines will resume with renewed vigour once the suspension of sporting activities due to the coronavirus is lifted. FAM president Walter Nyamilandu and his NAM counterpart Khungekile Matiya said this yesterday after FDH Bank reaffirmed its commitment to fulfil K910 million football and netball sponsorship. Nyamilandu said: “We have received the FDH Bank’s sponsorship commitment with excitement and gratitude. This assurance demonstrates that it is not all doom and gloom despite coronavirus raging.”
On her part, Matiya thanked the bank for the assurance, saying the plight of netball players, whose income has been affected by the suspension of sporting activities around the globe.
“NAM realises that its players have been out of action for some months due to the effects of the pandemic. But FDH Bank’s sponsorship assurance has given us hope that better days are coming soon,” she said.
FDH Bank, set to list on Malawi Stock Exchange this year, is a subsidiary of FDH Financial Holdings Limited.