Super League of Malawi (Sulom) and Beta TV on Thursday signed a K266 million television contract with both parties admitting that it is not a stroll in the park to realise the agreed amount considering the economic hurdles facing the country.
The two parties signed the contract at Winehouse in Blantyre in the presence of Sulom chairperson Innocent Bottoman, and Sulom sponsor, TNM’s representative Limbani Nsapato.
Asked how the station intends to realise such a huge amount of money with the fragile economy, Beta TV Managing Director, Maneno Mtawali, said they have taken a risk to invest in the venture.
Beta is expected to pay K20 million to Sulom at the start of the season and another K20 million every two months of a season under a three- year contract in which Sulom is expected to get a lion’s share of 60 percent.
Mtawali said they know the challenges lying ahead of this industry.
“We realise that the economy in Malawi is sinking but it doesn’t mean that we can’t do anything. As you know, people will take calculated risks with the belief that things will work out. If something goes wrong, is it not our wish, it will have just happened,” he said.
Bottoman said he was hoping that Beta would roll out and make this venture a reality as promised in the contract.
“The economy is actually bleeding. It has been hit hard with a lot of elements but we don’t want to fear the unknown,” he said.
Bottoman said he believes that Beta had done thorough home-work before coming up with the figures.
A local TV marketer, Chimwemwe Nyirenda, said Sulom just needs to sign the contract without worrying about how the station would source the money.
“They should do as they agreed in the contract because the figure was put forward by the bidder so they must have done their analysis,” he said.
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