By: Rodney Pienaar
Standard Bank has unveiled a three-year sponsorship for The Namibian Newspaper Cup valued at N$1 million per year.
The regional sport competition, which is geared towards youth development in the country, will this year take place from the 19th to the 22nd of April in Mariental, Hardap region.
Standard Bank Chief Executive Vetumbuavi Mungunda at the official launch of the 2019 Namibian Newspaper Cup said that the Blue Bank is proud to be associated with a competition that has over the years contributed to regional economic development as thousands of football and netball lovers throng the host town for a four-day sport fiesta.
“This economic benefit of The Namibian Newspaper Cup is in line with our motto and our purpose of driving the growth of Namibia, our home,” Mungunda said.
He said the development of sport, just like economic development, should not only be left to the state but that the private sector should also play its part.
“We are indeed proud to be a strong and active partner in the development and promotion of sport in our country.”
The Standard Bank executive further said it was an easy decision for the lender to come on board as the main sponsor of a tournament that has as its main objectives the identification and development of the country’s future football and netball stars.
“Globally, sport is a large industry and as a country, it is imperative that we invest in it, and the best time for this investment to yield the highest returns is at youth levels. We are, therefore, excited by this opportunity,” Mungunda said.
The winning football team will walk away N$30,000 richer, while the runner-up will get N$20,000 and the semi-final losers N$16,000 each.