South African telecommunications company Telkom has entered into a partnership with the South African Sports Confederation and Olympic Committee (SASCOC).
Telkom has been named an official sponsor of the South African Olympic and Paralympic teams for this summer’s Games in Rio de Janeiro, Brazil as part of a “multi-million rand” deal.
Under the agreement, Telkom and SASCOC will launch a funding programme called Partners for Gold. Telkom will add R4m (€229,000/$257,000) to the medal incentive programme, which will provide medal-winners and their coaches with a mutually agreed share of the fund.
The partnership will also allow SASCOC to expand the South African team to include more qualifying athletes.
“We are confident that this current partnership will grow and lead to a long-term relationship that will bring benefits to all parties,” SASCOC chief executive Tubby Reddy said. “We would like to thank Telkom for their very timely sponsorship and we are confident that this will open the door for corporate South African (companies) to partner with us to develop South African sport.”
Telkom sponsored South Africa’s Olympic teams at Athens in 2004 and Beijing in 2008, and also supported the country’s Paralympians at London 2012.
This summer’s Olympic Games will be staged from August 5-21, with the Paralympics taking place from September 7-18.