The unstable kwacha currency seen TNM spending over K120 million on Super League sponsorship, Nation on Sunday has learnt.
TNM senior manager for business services Limbani Nsapato confirmed the development in an interview in Lilongwe yesterday.
He said this was due to rise in prices of goods and services following the fall of the kwacha.
“Our contractual agreement with the Super League of Malawi (Sulom) is K90 million per season, but as you might know, the kwacha has not been stable and that meant we spent more than what we budgeted. We have pumped in more than K120 million this season. There are a lot of things and activities in the operation of the league that need money. I will not go into details on that,” said Nsapato.
Apart from the prize and administration money, TNM also buys uniforms for the 16 teams playing in the league.
“We are not complaining, though, as we are happy and committed to promoting football in the county through the sponsorship of the top league. Our satisfaction stems from the fact that the league has been very competitive and successful. At the start of the season who could have dreamt that Kamuzu Barracks could win the league. None, I guess. It has been one of the best seasons so far in terms of level of competition,” he said.
Sulom president Innocent Bottomani has since thanked TNM for their commitment to ensure that the league was a success.
“We have a good working relation with our sponsors and they made sure everthing went on well. It has been a good season. We are grateful for the sponsorship and looking forward to a successful 2017 season,” said Bottomani.
Despite operating on a lower budget, KB won the league with 61 points, a point above second-placed Nyasa Big Bullets. Silver Strikers were third on 56 points.
Bullets and Silver Strikers enjoy sponsorship in the region of K100 million whereas KB sponsorship is less than K20 million. n