Absa says PSL sponsorship termination unrelated to Covid-19

The end of Absa’s 16-year partnership with the PSL was not due to the Covid-19 coronavirus, nor was it because of anything untoward between the parties, Mtunzi Jonas, Absa’s head of sponsorship is has said, Jonas said that “the economic impact was there way before Covid, and I don’t think the timing matters. The point is that Absa is a business, like any other, and the senior leadership of the company has taken a decision which they feel is best for the company”.

He also clarified that the deal struck in 2017 between the league and the bank was not a full five-year deal but a three-year deal with the option to renew – which Absa chose not to., Stan Matthews said that there would be “a lot of uncertainty in this space until a new league sponsor is announced”. Matthews, who is a member of the PSL’s executive committee and SuperSport United’s chief executive, added that he was “extremely sad to see the end of the Absa sponsorship”.“It’s unfortunate that the league sponsorship has ended but I’m confident that like all the PSL’s special longstanding relationships, Absa and the PSL will continue to find ways to collaborate.

What was the problem that ties broke

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cecilia Makiwane hospital closes three units after staffers contract Covid-19Three critical medical units this week were closed at Cecilia Makiwane Hospital in Mdantsane after some staffers tested positive for Covid-19.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Covid-19 cases rise to 43,434 with 60 more deathsThe recoveries to date are 23,088 which translates to a recovery rate of 53,2%.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

LIVESTREAM: Ramaphosa visits Western Cape to assess COVID-19 responsePresident Cyril Ramaphosa is in the Western Cape to assess the readiness of the province in response to the COVID-19 pandemic. Ngithe take them back to level 5 kalok Any 'selfies' for the course? Mr President CyrilRamaphosa hasn't practised lockdown
Source: eNCA - 🏆 49. / 51 Read more »

Teachers test Covid-19 positive - The Mail & GuardianMany schools are still not coronavirus ready for learners and teachers to return
Source: mailandguardian - 🏆 2. / 92 Read more »

The impact of Covid-19 on the African energy sectorAccording to the latest statistics, the coronavirus outbreak will reduce global oil demand by 4% - or 4.1 million barrels a day.
Source: IOL - 🏆 46. / 51 Read more »

Forcing Covid-19 patients into quarantine is illegal - high courtAfriForum claimed the court ruling as a victory after challenging regulations signed by the co-operative governance and traditional affairs ministry under the Disaster Management Act on April 29.
Source: SowetanLIVE - 🏆 13. / 63 Read more »