Football analysts and commentators are calling on the Botswana Football Association (BFA) to responsibly manage the recent financial boost from First National Bank Botswana (FNBB), emphasising the importance of adhering to corporate governance principles.
FNBB, a top commercial bank recently injected P54 million into local football. Analysts hailed the move saying it demonstrates the bank’s commitment to local football.
FNBB is listed on the Botswana Stock Exchange. Announcing the historic sponsorship, the bank said the funds will be used over a three-year period.
A prominent football analyst, Serefete ‘Citie’ Keagakwa said the capital injection by the blue-chip bank restores confidence in local football.
He advocated for careful and wise management practices to guarantee its growth and long-term sustainability.
“It will encourage other potential sponsors to be less skeptical about partnering with football,” he said.
The bank allocated P28.5 million to the Botswana Premier League for the years 2024 to 2026. This significant investment aims to boost the league’s competitiveness and secure its sustainability, covering various initiatives including prize money and administrative costs.
Additionally, FNBB allocated P13.5 million to The Mares to be used over a period of three years. Keagakwa said the generosity demonstrates FNBB’s commitment to gender equality.
Furthermore, FNBB has pledged about P12 million over the same period to maximise the partnership’s advantages for the Botswana Football Association and football fans broadly.
Renowned football analyst Jimmy George echoed Keagakwa’s sentiments, highlighting the importance of FNBB’s sponsorship and its deliberate backing of the Mares. He reiterated the crucial necessity for corporate governance in Botswana football, urging the Botswana Football Association (BFA) to reciprocate with transparent governance practices.
For his part, the minister responsible for Sports lauded FNBB’s generosity and emphasised the importance of corporate-government collaboration in fostering football development. Tumiso Rakgare stated that sustainable progress in football requires joint efforts from both the corporate sector and the government to sponsor developmental programs and league initiatives.
With Botswana grappling with high youth unemployment, Rakgare said the sponsorship would ultimately benefit the football clubs in the League, leading to the employment of young people as players and administrators. Furthermore, he highlighted that funding for a league typically enhances its quality, resulting in heightened interest from patrons, thereby creating opportunities for young people in the SMME sector.
The Ministry of Sports, Youth and Culture encourages the private sector to invest in sports, particularly multinational corporations that derive significant profits from their operations in Botswana. The minister pointed out that for many years, the government has lamented the lack of support from multinational companies like FNBB, despite their substantial profits in Botswana, in contrast to their support for sports in countries such as South Africa.
