19 June 2017

Malawi: Let Nyasa Take Over Bullets As Limited Company - EGM Approve Commercialisation

Delegates at the Nyasa Big Bullets Extraordinary General Meeting (EGM) have resolved to give Nyasa Manufacturing Company (NMC) the ownership of the team as it embarks on commercialisation and self-reliance drive.

The team which held its EGM on Sunday at Kumudzi Eco centre, unanimously voted that its sponsor Nyasa should be the key owner of the team and give them mandate to find partners who can help in running the team

One of the trustees, Malinda Chinyama who heads the marketing team, said the country's most successful needs to go commercial.

Chinyama said if the team go commercial it will be able to generate its own revenue that will be helping the team operations.

He said with the current economic challenges facing the country no company is interested to give out its hard earned resources in form of sponsorship without expecting to win something, saying gone are the days that sponsorship meant donation as now companies wants a win-win situation

Kennedy Nkhoma a Bullets trustee said it's high time the team owns its brand amend name by preventing traders who are selling the club's branded merchandises without the teams blessings and without the team gaining anything, saying this can only be done if the team adopt commercialization drive

To enable the team go commercial the assembly also unanimously voted for the dissolution and deregistration of the trusteeship which the team is registered and being operated on within 60 days and send a proposal to its sponsors Nyasa.

Delegates have since agreed to sale the majority of the team's ownership to Nyasa and empower them to find other would-be partners that can come and buy shares from the team.

The AGM has since given fresh mandate to its acting chairperson Noel Lipipa to come up with the team that he is going to work with to ensure they follow all legal procedures to change the team into a Limited company and write a proposal to the Nyasa if they can be key owner of the tea, within the agreed period of 60 days when the trustees shall cease to be trustees of the team

In his remarks, Lipipa described the assembly as the genesis of what he believes a new chapter as the team now is going into the right direction of commercialization drive.

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