First National Bank (FNB) Namibia has signed a five-year deal that will see Black Africa, Orlando Pirates and Arrows receive N$734 800 and a further N$100 000 as a performance bonus if they win the league.
Dixon Norval, the bank’s strategic management and marketing head says the new deal is lucrative.
“Being Namibia’s leading financial institution, any sponsorship we make is a business investment and we expect a return in that regard. As one of the founding members of the defunct Football Consortium, FNB Namibia has a long standing relationship with soccer in Namibia. When the consortium was disbanded in 2006, the bank identified support to premier league clubs as a real need, since only a few of these clubs had official sponsors while some were run along business principles,” says Norval.
As part of the sponsorship, the clubs have been offered business and management training through SMEs Compete, which resulted in formal business plans being presented.
“It is still a requirement that the FNB Namibia-sponsored clubs submit a business and PR plan at the commencement of every season before sponsorship money is paid,” explains Norval.
But why did FNB Namibia not sponsor other clubs in the NPL that were also in need of sponsorship? Norval insists it is the duty of other corporate companies to assist the clubs too.
“We believe sponsorships would promote local football if all clubs were sponsored. However, it should [preferably] not be a single sponsor but various backers who see the benefit in such sponsorships and believe they can get a return from such investments. This is the way it works all over the world. The question remains; why are other sponsors not forthcoming? As long as this is the case, we will continue with this sponsorship approach but there is no reason why this cannot change in future,” Norval states.