SA firm to invest $10m in Kamuzu Stadium

Malawi Government, through the Private and Public Partnership (PPP) concept, has entered into talks with South African firms, Simat and EQ Ticketing, on the possibility of the companies running Kamuzu Stadium as a commercial entity, Weekend Nation has learnt.

Youth and Sports Minister Enoch Chihana said this week that he discussed the matter with officials of the two companies between September 11 and15 in Sandton, South Africa.

“After renovating the stadium to international standards using their own money, they will run it through EQ Ticketing until they recover their money and then hand it over to us,” said Chihana.

He said FAM and Malawi National Sports Council officials are privy to the issue and they were part of the concept even before he went to South Africa for the discussions..

He said Simat officials will be in the country next week for further talks on the matter and also to get familiar with the country’s financial regulations.

“They will also tour the facility. Simat and EQ Ticketing have a high reputation. They are the ones who were responsible for the construction and ticketing of the 2010 World Cup. This is a big and long time venture. We hope it will change the way the game is run. It will bring prudence in the ticketing system as there will be no fraud,” said Chihana.

Chihana said Simat are willing to invest $10 million into Kamuzu Stadium and they are ready to start work once a contract is signed.