“One of the outcomes of Absa’s portfolio rationalisation is a change in our approach to stadium exposure. Thus, over the past few years, the decision was taken not to renew stadium naming rights, as evidenced by the discontinuation of naming rights of the stadia in Kimberley and East London. The decision regarding the Absa Stadium Durban is a continuation of this strategy,” said Happy Ntshingila, Absa Chief Marketing and Communication Officer.
Absa is a strong supporter of rugby in South Africa, and remains committed to the promotion of the sport, inter alia, through our involvement in the Absa Currie Cup. The bank also supports, among others, the Eastern Province Kings, three provincial rugby academies, including the Sharks Academy.
“In addition, we are in the final stages of negotiations to conclude a contract which will see Absa becoming the Official Team Sponsor of the Springboks,” stated Ntshingila.
He added: “This latest development will solidify Absa’s strategy of sponsoring leading teams and tournaments in two of the top sporting codes in the country, namely soccer and rugby.”
“Our strategy around our sports sponsorships has changed, and we are in the process of consolidating our properties so that we can focus on the league, national teams and development,” emphasised Ntshingila.
Regarding the Absa Stadium Durban naming rights, Ntshingila clarified that Absa was not the sponsor of the Sharks rugby team but had held naming rights over the Absa Stadium for the past 11 years. “It is this sponsorship that we are not extending. Our sponsorship of the Sharks Academy continues. We were never sponsors of any of the provincial rugby outfits,” concluded Ntshingila.
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