The Malawi Olympic Committee (MOC) marketing strategy is bearing fruits after it was learnt during its annual general meeting (AGM) on Saturday in Lilongwe that the organisation made K33 351 507.
MOC treasurer general Henry Sakala told delegates that they are making strides in marketing the organisation’s activities.
“We received funds for projects and programmes amounting to K394 038 111 in 2018, but our marketing activities managed to generate K33 351 507 which is very commendable,” he said.
Sakala, however, faulted some of its affiliates for not honouring affiliation fees.
He said 16 out of 21 affiliates have not paid.
The list of affiliates owing MOC in affiliation fees include Football Association of Malawi (K40 000), Malawi Boxing Association (Maba) (K45 000), Canoeing Association of Malawi (CAM) (K55 000), Malawi Aquatic Union (K20 000), Hockey Association of Malawi (HAM) (K10 000), Weightlifting and Body Building Association of Malawi (WBAM) (K10 000), Netball Asociation of Malawi (NAM) (K10 000), Malawi Handball Association (Maha) (K35 000), Athletics Association of Malawi (AAM) (K5 000), Basketball Association of Malawi (Basmal) (K10 000), Lawn Tennis Association of Malwi (Ltam) (K20 000), Table Tennis Association of Malawi (Ttam) (K55 000), Bowling Association of Malawi (K20 000), Squash Association of Malawi (K50 000) and Wrestling Association of Malawi (K10 000).
In total MOC is owed K405 000. For some affiliates the balance has been accumulating since 2014.
Affiliates that have paid all their dues are rowing, archery, cycling, judo and volleyball.
MOC’s total income was at K469 049 840 in 2018, according to its financial report total expenses amounted to K469 049 840. MOC registered a deficit of K41 051 181.
“We had a deficit of K41 051 181 in comparison to K13 827 802 in 2017. This has come about because we are still charging depreciation of K41 221 509 which came about because of our revalued properties,” said Sakala.
The financial statements were audited by Crowe Howarth and was rated category 4 meaning it is an audit report containing no findings or weaknesses.
Speaking on the 2017-2020 Strategic Plan, MOC president Oscar Kanjala said the plan, which is in its third year, has six priority areas, governance, sport development, marketing, strategic partnerships, Olympic legacy and financial sustainability.
“We are making good progress in governance and marketing and partnership. We have built partnership with tertiary institutions such as [Mzuzu University] Mzuni, [Malawi University of Science and Technology] Must and others where we are conducting scientific research to enhance sports development.
“In our marketing drive we have managed to increase MOC brand awareness and visibility through usage of mainly social media platforms which has resulted into increased revenue,” said Kanjala.
Ministry of Labour, Youth, Sports and Manpower Development and Malawi National Council of Sports (MNSC) commended MOC for the strides it has made. n