CDH Investment Bank (CDHIB) has sponsored K15, 000,000.00 to Southern Zone Basketball League (SOZOBAL). K10,000,000.00 will be used for 2023 CDH Investment Bank Cup popularly known as “MONEY IN THE BANK Tournament” and K5,000,000 for 2022/2023 end of season CDHIB SOZOBAL Play Off series to start in May after conclusion of league games.
Speaking on the sidelines of the presentation, CDH Investment Banks, Chief Credit Officer, Mr Sungani Mkandawire, shared that the bank has supported the association in managing the league as part of its corporate social responsibilities to promote sportsmanship, health and teamwork.
“As a Bank, we felt compelled to create value through the sponsorship. Basketball as a sport is developing well and it is our hope that the sponsorship will result into further development for basketball in Malawi” said Mkandawire.
We would like to see basketball as a sport being played at all levels from primary school to college which will result into a strong national team.
On his part, the SOZOBAL President, Mr Raymond Chioko said that the association is grateful for the Bank’s investment that has been multiplied 5 times from the previous amount they had received. The investment is a great encouragement to the league to perform better. The donation shows how committed the Bank is to the sport.
“This sponsorship signals the Bank’s endorsement for the sport and we assure you that we will put to good use to develop the game” he said. He appealed to other corporate institutions to emulate CDHIB’s gesture to support the sport and patronize the games and the upcoming CDHIB Cup “MONEY IN THE BANK” tournament as well as the play offs series.
The Vice Chairperson of Basketball Association of Malawi (BASMAL), Mr Bantali Banda commended CDH Investment Bank for the sponsorship that he said will go a long way in supporting the play-offs that had previously been played without any sponsorship and the national leagues that will develop basketball in Malawi.
SOZOBAL is a member of the Basketball Association of Malawi (BASMAL) which also oversees Northern Region Basketball League (NOZOBAL) and Central Region Basketball League (CEZOBAL). The SOZOBAL basketball playoffs are currently underway and CDH Investment Bank basketball team is in the finals and will play Crazy Warriors and both teams have automatically qualified for the Basketball Association of Malawi (BASMAL) National finals.
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