South Africa-based
Standard Bank is to end its 13-year sponsorship of Cricket South
Africa and ditch its sponsorship of soccer teams Kaizer Chiefs and
Orlando Pirates.
In a statement, Standard
Bank said the decision to end the sports sponsorship deals would
“improve business efficiencies across its business.”
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Standard Bank had
sponsored the Kaizer Chiefs and Orlando Pirates for the past 10
years.
Sarah-Anne Orphanides,
group marketing and communications director at Standard Bank said:
“Our marketing and communication efforts support and contribute to
Standard Bank Group’s business strategy.
“While our sponsorships of soccer
and cricket have been extremely valuable in building our brand and
engaging with fans, we have had to reassess the costs of these
sponsorships and the benefits for Standard Bank in the light of
changed business needs.
“This was a difficult decision as we have made significant
investments in both soccer and cricket. But, we believe that this
is a responsible, necessary and prudent decision to ensure that we
support our business needs in the best possible
way.”
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