FDH Bank has increased sponsorship for FDH Bank Cup from K90 million to K120 million.
The bank announced the increment Friday during the launch of the 2023 edition of the cup at Mpira Village in Chiwembe Township, Blantyre.
The Malawi Stock Exchange listed bank’s Senior Marketing Manager, Ronald Chinchere said the increment is a direct response to the dynamics of the country’s economy.
He said: “As a bank and as sponsor we acknowledge the changes in the economy.
“And to make sure that we cover for the changes in the economy, we decided to hike the sponsorship from K90 million to K120 million.”
He said they following the hike in the sponsorship they also expect that there will be more competition.
Following the increment, champions will now pocket K30 million up from K25 million.
However, the bank has maintained runners up and semi-finalists prize money.
The losing finalist will get K8 million while the losing semifinalists will each pocket K2 million just like in the last two editions.
The quarterfinalists consolation has also been maintained at K1 million.
However, the sponsors have increased subvention for 16 regional teams that make it to the national stage to K700 000 up from K500 000 apart from the uniform which they also get.
Individual awards prizes have also been adjusted upwards.
Player of the Tournament, Golden Boot, Best Goalkeeper and Discovery of the Tournament awards prizes are up to K300 000 from K200 000.
Man of the Match award has been doubled from K50 000 to K100 000. The media has not been left behind in the third edition of the cup.
All national winners in all categories will now pocket K120 000 from K100 while community radio media award winners will get K100 000 from K75, 000.
Football Association of Malawi (FAM) General secretary Alfred Gunda said the association appreciates FDH Bank’s effort in uplifting football in the country.
He said: “It is a very good gesture from FDH Bank considering that the rationale behind the increment is the changes in the economy.
“We are grateful to FDH Bank for being able to review the five year sponsorship and effecting the increment from K90 million to K120 million.”
Bullets are defending champions after they beat their Reserves in 2022 edition final.
Silver Strikers won the inaugural championship after beating Ekwendeni Hammers in 2021 edition final.
The competition is participated for by TNM Super League teams, Regional Leagues teams and Division One teams.
The cup was first announced in 2019 but only rolled into life in 2021 due to a break in association football because Covid-19 pandemic.-FAM
