Sapinda signs as latest major partner for African cycling team

Global investment company Sapinda Holding has agreed a deal to become the latest sponsor of the soon to be rebranded MTN-Qhubeka, Africa’s sole Professional Continental cycling team.

The South African-registered squad, which will be known as Team Dimension Data from 2016, has signed Sapinda, which has significant assets in Africa, as its third major partner for next season.

The team has raced under the banner of MTN-Qhubeka powered by Samsung for the last three seasons but recently announced that Dimension Data would take over as title partner, with Deloitte joining as a gold partner.

The Sapinda Holding logo will be visible on the rider’s jersey and shorts and the team buses, trucks and cars. Sapinda, which is registered in the Dutch city of Amsterdam, concentrates on special situation investment opportunities across Africa, Europe, the Middle East and Asia.

MTN-Qhubeka has enhanced its team ahead of the 2016 season and in September announced the signing of star sprinter Mark Cavendish. The Manxman was a free agent and the team was reported to require significant sponsorship income to afford his wages.

The team enjoyed much success at this year’s Tour de France, despite only gaining entrance as a wild card. MTN-Qhubeka’s Eritrean rider Daniel Teklehaimanot became the first African to wear the King of the Mountain jersey for four successive days, while the team also finished fifth overall. British rider Steve Cummings also picked up a stage win.