Netball gets K1bn boost from Nico
Nico Holdings plc yesterday unveileda K1 billion three-year sponsorship for the Malawi Queens and the Nico Top-12 National Netball Cup, to run between 2024 and 2027.
The sponsorship, whose biggest chunk will go towards Queens’ activities, will also see the financial services group launching a locally designed and produced new kit for the Malawi National Netball Team.
During the unveiling ceremony at Protea Hotel By Marriott Blantyre Ryalls, the group’s managing director Vizenge Kumwenda said they will inject K320 million in the first year, K330 million in the second year and K350 million in the third year.
He said they are confident the initiative will help netballers showcase their netball skills while providing a platform for national netball team coaches to identify players.
“This sponsorship aims to strengthen the netball foundation and support the incredible journey of the Malawi Queens. As they continue to make us proud, there is no need for the them to lack resources and have poor development strictures,” Kumwenda said.
He said the Queens, who are ranked seventh globally and third in Africa, also represent the pride of women who constitute 55 percent of the country’s 21 million population.
“Netball is an empowerment tool for girls to dream big and learn discipline, hard-work and focus. We are committed to creating a great future for our girls, who want to succeed through netball,” Kumwenda said.
Netball Association of Malawi (NAM) president Vitumbiko Gubuduza described the sponsorship as a big boost to netball development.
“Netball has been struggling recently because of inadequate support, especially when it comes to Queens’ engagements and national competitions. With Nico Group’s support, we see netball reaching greater heights,” she said.
Malawi National Council of Sports marketing, planning and infrastructure development director Limbani Matola said Nico Group has indeed shown its seriousness towards sports development in the country.
Nico Group, through its subsidiary NBS Bank plc recently also pumped in about K1 billion into the newly-established National Division Football League for three years from next year. They also bankroll the National Schools Chess League through Nico Asset Managers.
The Queens’ budget for this year is K700 million. Apart from K200 million subvention from government, they also receive K100 million soponsorship annually from FDH Bank plc.