Minister of Finance, Economic Planning and Development Joseph Mwanamvekha says government has increased Presidential Cup Sponsorship from Mk120 Million to MK 400 Million.
Mwanamvekha made the announced on Friday during the presentation of 2020/21 budget statement at Parliament building in Lilongwe. He said President Peter Mutharika is committed in improving sporting activities in the country.
“The President (Professor Peter Mutharika) is committed to improving sporting standards in this country especially at grassroots level.
In order to live up to this commitment, this Government has increased sponsorship of the Presidential Cup to MK400.0 million from MK120.0 million,” said Mwanamvekha.
Of this amount, MK200.0 million will be allocated to football, K100.0 million to netball and the balance of MK100.0 million to cater for all other sports disciplines in all the districts.
According to the Minister, administration of all sports activities under the Presidential Cup initiative will be done through the Office of the President and Cabinet.