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Newspaper Cup gets more financial backing – Bank pledges N$3 million

Newspaper Cup gets more financial backing – Bank pledges N$3 million

The Namibian Newspaper Cup recently got a shot in the arm from Standard Bank, when the financier unveiled a three-year sponsorship 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 19 to 22 April at Mariental in the Hardap region.

Standard Bank Chief Executive Vetumbuavi Mungunda told guests at the official launch of the 2019 Namibian Newspaper Cup in the capital on Thursday, 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 in the hands of Government, 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.

“The 2019 Namibian Newspaper Cup promises great excitement and it is our hope that this year’s competition will unearth new football and netball gems to increase the competitiveness of sport in the country.

“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.

The team that wins the Fair Play Award will receive N$3,000, while the Player of the Series, Match Official of the Series, Goalkeeper of the Tournament and Top Goalscorer will each receive N$2,000, a 100 percent increase from the previous N$1,000. Each Player of the Match will receive N$500.

The winning netball team walk away with N$25,000, while the second and third placed teams will get N$12,500 and N$6,250, respectively.

Each Player of the Match will get N$250; Overall Best Shooter N$500; Overall Best Centre N$500; Overall Best Defender N$500; and Player of the Tournament N$500.


 

About The Author

Sport Contributor

The Economist does not have a dedicated sport reporter. This designation is used for several contributors who want their sport stories in the Economist. Experience has taught us that companies usually want their sport sponsorships published prominently, being the reason for a sports category. It now also carries general sport items but only those with direct Namibian relevance. - Ed.

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