Standard Bank Namibia has agreed a three-year deal with the Namibia Football Association (NFA) to title sponsor a new soccer competition.
The bank will pay N$3 million (US$290,000) to support the Standard Bank Super Cup, an annual one-off match between the league champions and the winners of the Bidvest Namibia Cup. According to The Namibian, the deal includes N$500,000 for the winners and N$200,000 for the runners-up each year, with an additional N$300,000 towards running costs, promotion and team kits.
"There are similarities between soccer and Standard Bank including the fact that both are universal," said Standard Bank Namibia chief executive Junius Mungundu at the competition's launch. "Soccer is played from Lagos in Nigeria and Soweto in South Africa, to Katutura and Rundu in Namibia. Standard Bank has operations across the continent in places such as Nigeria, Angola, DRC, Katutura, Oshakati, Otjinene and many other towns.
"It is against this background that Standard Bank Namibia saw it befitting to contribute to the development of this popular sport by committing a sponsorship of N$3 million over three years, or to put it differently, N$1 million per year over the next three years towards the Standard Bank Super Cup, which will be hosted by the NFA."
A provisional date of 16th August, ahead of the 2014/15 Namibian soccer season, has been pencilled in for the inaugural Standard Bank Super Cup.