The Super League of Malawi in conjunction with NICO Life today invited Super League club supporter representatives to sensitive them on NICO’s new product called Sapota Funeral Cover.
The product intends to provide funeral policy cover to supporters for the 16 teams in the League at very minimal premiums while remitting a percentage of revenue accumulated to the clubs.
Speaking during the event held at Bingu National Stadium in Lilongwe NICO Life Head of Innovation and Growth Steve Kanyoza emphasized that the initiative will benefit both the clubs through the provision of extra revenue streams and also the supporters for cheap funeral cover.
With only K150 per month, supporters will get covered with MWK 100,000.00 if a policyholder dies while with MWK500.00 per month, the holder will get MWK 600,000 cover.
Registration to the policy is done by phone using the USSD code *325# platform both for TNM and Airtel lines.
Super League of Malawi Vice General Secretary Donex Chilonga-in his opening remarks- hailed the initiative as one way of diversifying revenue bases for top-flight clubs in line with SULOM strategic objectives where they will share 10 percent of total premiums.
In an interview, Chitipa United FC supporters vice chairperson Samson Sibale said the initiative will promote the 16 teams and also will help the supporters individually.
Super League President Fleetwood Haiya in his manifesto promised to maximize revenue for the teams by among others bringing in more corporate partners.