FAM shocked with Standard Bank sponsorship withdrawal

Feb 06, 2016 Business 103
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Walter Nyamilandu

The Football Association of Malawi (FAM) says it is deeply shocked with the news that Standard Bank has withdrawn from sponsoring the flagship Standard Bank Knockout Cup.

On Friday, the bank released a statement announcing that it will no longer sponsor the Standard Bank Knockout Cup.

“In light of the changes in the macroeconomic environment and all the attendant business challenges, the bank has had to refocus its strategy. What has become apparent in recent years is that, it has become increasingly challenging to grow the revenue of the bank at a pace which allows the bank which matches the increase in costs” reads part of the statement.

Walter Nyamilandu
Nyamilandu: Its a blow.

The Bank states that the pace that the country’s economy is taking has made it “increasingly challenging” for the bank to generate revenue.

But in its response, FAM in a statement signed by its President, Walter Nyamilandu said that the news had caught the football body unawares and that it a blow to Malawi’s football.

”This is a huge setback and big loss considering the impact the sponsorship has had on Malawi football since 2007. FAM treasures the good times and support Standard Bank has given to the game of football over the years.”

”Standard Bank came in to sponsor football when the corporate world had deserted football and FAM jealously safeguarded this partnership for nine years by ensuring professionalism in the organising of the cup. It is painful that the reasons given for the withdraw of sponsorship are non-football related.” a statement from FAM reads.

On the other hand the football body worried that the bank did not give a prior notice whcih would in turn allow the body to fetch for new sponsors in the same vein.

”FAM would have wished if Standard Bank had given adequate notice of one more season to look for another sponsor and wish it had a chance to address Standard Bank concerns but is as helpless because the matter is beyond it’s control.”

 

The FA has since said it will keep lobbying the corporate world to help Malawi’s football.

Previous winners of the cup are Civo Service United who won 1-0 in a final against Mighty Wanderers last year.

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103 Comments

  5. Economic crisis is every where be it in govt and in companies and FAM should learn to use its resources wisely and stop being dependent on funding.

  6. Economic crisis is every where be it in govt and in companies and FAM should learn to use its resources wisely and stop being dependent on funding.

  7. Paja ndi nthawi yokolora. Ndiye Standard bank ikufuna isakololedwe. #Cashgatephobia

  9. Tidzamva liti adanena kale astandard kuti water ayi ndi izo asiyazo atsala ndi a carlsberg mbuziii inu mumavotera water tiyanganileni sporser wina 2 agalu fotsekiiiiiiiiiiiiii

  14. Dont be shoked kuba athu kwathu kuno zilizonse game imodzi amapeleka mipira yambiri tiyen kutha kwa game kupezeka mipira iwiri kubako ndi mpira omwe shame

  17. why should I get surprised when you well know the economy is in shambles companies are operating at a loss should they continue wasting money for useless things like sponsoring football are we a strangers in this country to get surprised LoL!

  19. it’s mutual benefit Macmillan,where are FAM bank accounts?You get forex from FIFA and open bank accounts wth other banks!Akakudyerani kuti palibe safuna profit

  21. When politicizing things, those are the anticipated results. Chili chonse pa Malawi, mukuchilowetsa pa ndale. Mapeto ake ndi zimenezo.

  24. Zopusa zanuzo zokakamira munthu mmodzi paudindo.walter waononga zambiri ku FAM that is y amalimbira kuimanso kuti zisavunbuluke TNM is next.

  28. What were you expecting? Walter was supposed to be gone long time back . What has he achieved so far? The standard of football has declined who wants to support a sinking ship?

  30. Kukhala president wa dziko la mw tsopano kuli ngati kukhala nyapala mndende. Si mpando wonyaditsa ayi. Adasangalala nawo mpandowu ndi kamuzu komanso bakili basi. Enawa azingotengerapo matemberero

  31. zomangokakamira munthu mmodz paudindo zayamba kubala zipatso anthuwa alibe chikhulupirilo nd Fam kukubedwa ndalama zambiri mesa munazpopa kut mmapeza sponsorship nde mutibweretsele enatu

  32. I remember way back before FAM elections there were such fears that if the administration was Not to change companies were to pull out o sponsorship this is it…i gues

  33. Uziona mmesa umakakamira pampando ife timati tione zina .nde utaani? Kodi umaonangati ophunzira ndiwe wekha?

  35. I think the Bank should come out clear. The economy is bad, yes, the business environment is not inspiring and that goes with everyone doing business but looking at the banks’ published results, one is inclined to say they are the only sector making reasonably high returns year in year out. Their decision to withdraw sponsorship is in my view not in good faith

  36. If administration is not gonna change expect the unexpected. Muja anayambila u FAM president Nyamilandu after Nyamilandu

  41. I remember way back before FAM elections there were such fears that if the administration was Not to change companies were to pull out o sponsorship this is it…i gues

    1. mpaka yantha wa ndudu chingabwe fc asanainukhepo since frm 2007 ndie mudandaulapo chani!? kkkkk ukulota kapena eti!? Nyamilandu stil FAM president Mpaka kale kale n muli pansi pa ulamuliro wake hahahaha

  50. Paja anati Walter akangowina azasiya asatinamize kuti economic crisis 2011 anapanga sponsor bwanji economic inali worse than today

  58. Which FAM? the same leadership ?atopa amenewo mwawabera nthawi yaitali.Musalimbane nawo amenewo kwao sikunotu paja.Mwaiwala.

    1. captain kodi dziko mwatchulayonso ufa supezekanso ngati kuno? bola pamenepodi tafAnana. Koma nanga zoti Rand to kwacha ndi 1 – 48 mutoziziwa? osamafanizira Nkango ndi galu

    2. Nde uone kut rand pa US ili pa 21 from 11 mu november yesterday the finance minster has resign, problem wth malawians is dat,pomwe akumana ndi mavuta amaima nkumayang,ana mbuyo,

    1. Iwe ndiwachingabwe bullets eti,, bb funs imalimbaana ndi Nyamilandu,, since frm 2007 ndie amuone kuipa pano? Eni wake afotokoza momveka kuti vuto ndi poor economic challenge that Mw facing not wat u said or else u are mad

  73. HI HI HI HO HO!!! EVEN GOVT DONORS PULLED OUT AFTER A ‘FAKE’ ELECTION IN 2014, NOW IT’S FAM, NEXT NAM!!! HI HI HI HO HO HU!!

  74. Ngati bizinesi yawo isakupindula ku mpira alekelanji kusiya? Sadalakwise akuziwa chomwe akuchita,vuto siiwo koma ulamulilo waziko lino sukuthandiza anthu ake

    2. Whch ulamuliro,you mean ppo stoped to put money at the bank bcz of peter? Ndalama za cashgate asunga kut? Mabwana onse akupondereza anthuwa ndalamazo akumasunga kut? Ngat sizikuwayendera izo ndi zawonso leave politics alone. Busness its abt competetion no mattr hw worse stuation is

  76. ine ndathokoza a bank, nkhani imeneyi yafika mu nthawi yake ndipo musalekere pompo kuganiza mwachangu. amapindula nanu ndi munthu m’modzi yekha chauta akudalitseni.

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