The sports fraternity on Tuesday predicted a rough ride ahead following the devaluation of the Kwacha by 49 percent against the dollar.
MOC, FAM, NAM, Sulom and clubs on Tuesday said the move will have a direct bearing on sports saying associations and teams should brace for tough times ahead.
However, Malawi Olympic Committee (MOC) president Oscar Kanjala said the move could end up having a positive effect.
Said Kanjala: “We are hoping that things will get better as we go along.”
Football Association of Malawi (FAM) president Walter Nyamilandu said the weakening of the kwacha will exert a lot of pressure on current as well as potential sponsors.
“It will exert pressure on sponsors in the sense that they will have to pump in significant sums of money for sponsorship to be meaningful,” said Nyamilandu.
He also hinted that the budget that FAM submits to government will have to increase in the wake of the devaluation and subsequent inflation.
But Nyamilandu played down fears that the devaluation might affect potential sponsors, saying: “It will definitely scare them, but those that have genuine interest to invest in the game will go ahead.”
A senior Netball Association of Malawi (NAM) official who asked for anonymity said the fact that the sport will be adversely affected due to the devaluation cannot be overemphasised.
But Super League of Malawi (Sulom) treasurer Tiya Somba-Banda said the move will have both pros and cons.
“Basically, with the devaluation, items will go up and on operational level, it will affect teams since they will have to travel. On top of that, accommodation will also go up and teams will have to dig deeper into their pockets,” said Somba-Banda.
“On the other hand, teams that sell players outside the country stand to benefit. So, clubs need to look at the positive side as well,” he added.
Escom United FC chairperson Fanuel Nkhono said: “However, our only solace is that the new Youth and Sports Minister [Enock Chakufwa Chihana] has pledged to beat the hurdle.”
Chihana himself on Tuesday said government’s focus is to reintstate the economy so that things can stabilise.
