The Football Association of Malawi has doubled the annual subvention that it provides to Member Associations to K20 million from last year’s K10 million.
FAM President Fleetwood Haiya made the revelation during the FAM budget consultative meeting in Salima on Saturday.
Haiya said: “We can not realize our dream if we don’t capacitate our member Associations and this is why we have increased the funding. This is not enough as this is strictly for cushion governance issues. But we have also put aside K90 million which will be used to support other projects by Member Associations.”
The Association has put its expenditure budget for 2024 at K9.4 billion from last year’s K5 billion. The revenue budget has increased to K9.4 billion from K4.1 billion last year.
FAM is forecasting to generate and receive K5.8 billion from FIFA, K1.6 million from government , K680 million from the Confederation of African Football, K250 million from FDH for Flames sponsorship and K 150 from fundraising activities.
At least K245 million is expected from business ventures and TV rights, K33 million from gate revenue at both domestic and international games.
FAM has allocated K2.4 billion on national teams,K2 billion on administrative expenses and K 3.1 billion on capital investment. FAM has also allocated K363 million for capacity building, another K363 million for youth development , K487 million for FAM funded competitions and K345 million for governance.
“Our approach is that we have to spend according to what we have. The resources that we are projecting to raise should equal what we are going to spend. So our expenditure budget matches the income budget.
“ We are spending more on national teams as we want all the national teams to be in action this year starting with the Beach Soccer which is going to the COSAFA championship in South Africa.
“We are also looking at capital investment and we have priotised Luwinga Technical centre . We have set aside K251 million to complete the pitches and also K202 million for furniture, bus and staff so that by end of the year the facility should be operational,” said Haiya.
