PostBank injects M1 million into A Division
THE Lesotho PostBank has given a timely boost to the A-Division by injecting a M1, 2 million sponsorship for the league.
The deal announced at an event graced by Gender and Youth, Sports and Recreation minister Mahali Phamotse among others, will also see the league being renamed to Lesotho PostBank League.
Lesotho PostBank managing director Molefi Leqhaoe said the league would receive M400 000 for every season for the next three years.
The winners in both the north and south streams will pocket M50 000 while the first and second runners up will pocket M25 000 and M20 000 respectively.
The fourth placed team will get M17 000 while number five will get M15 000. Number six will pocket M14 000 while the seventh, eighth, ninth and 10th placed teams will each pocket M13 000, M12 000, M11 000 and M10 000 respectively.
Leqhaoe told the Lesotho Times this week that this was the institution’s way of empowering local footballers.
“We are participating in the empowerment of Basotho while also looking at the challenges that we are facing as a nation,” Leqhaoe said.
“One of the biggest challenges that we are faced with is the lack of employment and we know that sports can help us overcome different challenges. We know that the most paid people in the world are footballers. The M1 million sponsorship will run for three years.”
Leqhaoe said if his institution is satisfied with the running of the league in the three-year tenure of the contract, they would not hesitate to renew it.
“We are a government bank and this means that this money belongs to Basotho but at the same time, we need transparency and good administration. Once we are happy at the end of the contract, we will not hesitate to renew it and increase the sponsorship.
“We will also train LeFA officials and the teams on financial literacy and financial inclusion because we believe that when players are growing, they need support programmes that can give them fallbacks.”
On her part, Phamotse thanked PostBank for the initiative and appealed to other corporates to follow suit.
“I am out of words. I am happy with this initiative because it is going to improve many lives.
“Supporters are very opinionated, so as sponsors, please don’t despair because you have done good work. I hope and wish that other companies can also come on board and support sports,” Phamotse said.
LeFA president Salemane Phafane welcomed the sponsorship and promised PostBank that their investment was in good hands.
“I am happy with this partnership especially because it is with a wholly local company.
“We are proud to be associated with this company, which also has a good record and we promise you that your investment is in good hands. There will be absolute transparency on the use of your money,” Phafane said.
The LeFA boss shared Phamotse’s sentiments saying this partnership will improve many lives because the A Division has teams from the country’s nine districts. Only Thaba Tseka does not have an A Division team.
“The partnership will change many lives because the A Division has many teams in nine districts.
“We call on our teams’ fans to also support PostBank because that will ensure that the partnership grows. Let us take the time and learn about PostBank products. The teams must also know that this is not a donation so they must protect it,” Phafane said.