Reserve Bank of Malawi (RBM) sponsor of Silver Strikers FC has told the club that they expect results both on the pitch and the business section from the K500 million that the bank has invested this year.
RBM executive director William Matambo said this during an annual general meeting in Lilongwe on Saturday.
“Whenever one invests money like K500 million you expect results and that is what we want from the board of directors and the players. As sponsors, we want the club to win the league this year and also make returns from the commercialisation drive,” he said.
“We are very excited to have the first annual general meeting for Silver Strikers as a registered company in Malawi. This is part of the commercialisation drive where we are intending that Silver Strikers should be fully independent and a fully grown company that can stand on its two feet and operate as any other professional club,” Matambo said.
The company’s board chairperson Victor Madhlopa said a good chunk of the money has been used to purchase sport regalia for sale.
“The amount covers all aspects of running the club. A good chunk will go into more income generation activities like, sports merchandise which we have imported. We have thousands of replica jerseys, T-shirts, caps and other sports apparel. It’s high quality stuff. The other chunk will be for running of the club,” he said.