Flames’ official sponsor FDH Bank plc, says it will train the national football team players in personal finance and investment planning through FDH Group’s First Discount House investment experts.
FDH Financial Holdings Limited group head of marketing and communication Levie Nkunika said as a sponsor, they want to create a saving and investment culture among the Flames players.
He said: “FDH is taking a new approach. We want to ensure that the players are planning for tomorrow way after their playing careers are over.”
“The training will involve up to 30 members, including the technical panel.”
Nkunika said the first step is the K100 000 reward to 30 Flames players for qualifying for 2022 Africa Cup of Nations which will be deposited into investment accounts opened for the players.
“This is a seed for their future well-being. This is a way of contributing towards players’ welfare and creating an avenue for savings and investment so that they have a sustainable football career.”
He said planning for the training is already underway in liaison with the Football Association of Malawi (FAM) secretariat.
FAM president Walter Nyamilandu and Flames captain Limbikani Mzava applauded FDH Bank for the initiative.
Said Nyamilandu: “The gesture by FDH is highly commendable because financial prudence is lacking amongst most players.
“Misuse of funds is a common problem amongst players and when they are in the prime of their careers, they do not spend wisely. As a result, they struggle when they retire and regret the missed opportunity of squandering their perks and bonuses.”
The FAM president also said the training will go a long way in improving their welfare while they are active so that they can forge a brighter future.
On his part, Mzava said: “Investing earnings has always been a challenge among us players; hence, it is important for us to be equipped with the right technical know-how so that we can save and invest appropriately.”
FDH Bank’s relationship with FAM dates back to 2016 when they invested a K90 million three-year sponsorship for the Flames.
In 2019 the home-grown bank doubled the sponsorship.
In the same year, FDH Bank unveiled a K450 million five-year sponsorship of the FDH Bank Cup, the richest football cup on the domestic scene.
FDH Bank is also the official sponsor of the Malawi Queens with a K120 million annual sponsorship, culminating to K360 million in three years.
It also bankrolls Mayor’s Trophies and Mayors Trophy Intercity that focus on grass roots football development with over K75 million.