Standard Bank sponsors N.dollars 3 million for newspaper cup

05 Mar 2019 12:50pm
WINDHOEK, 05 MAR (NAMPA) – Standard Bank Namibia recently announced a three-year sponsorship valued at N.dollars 3 million to the annual youth football and netball extravaganza, The Namibian Newspaper Cup.
The regional competition which is geared towards youth development in the country is set to take place this year from 19 to 22 April at Mariental in the Hardap Region.
A media statement from Standard Bank Namibia’s Magreth Mengo on Wednesday said 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.
The statement quotes the bank’s Chief Executive Officer (CEO) Vetumbuavi Mungunda, who said this economic benefit of The Namibian Newspaper Cup is in line with their motto and purpose of driving the growth of Namibia, their home.
“Development of sport just like economic development should not only be in the hands of Government; 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,” Mungunda said.
The CEO 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 investment to yield the highest returns is at youth levels. We are therefore excited by this opportunity,” he noted.