In a bid to stop local players from ending up broke, Safpu and Old Mutual have entered into a deal to educate them about money.
|||Johannesburg - In an effort to stop footballers from spending all their money and ending up broke when they retire, the SA Football Players Union and Old Mutual have entered into a deal to educate the sportsmen about money.
There are many stories of South African footballers who were national heroes in their time left destitute because they did not save their money. Just one example is former Bafana Bafana star Sizwe Motaung who died in poverty.
The ‘On the Money’ financial wellbeing programme aims to increase the financial knowledge of footballers and help them manage their finances better.
“The union is very excited about this partnership with Old Mutual. The challenges facing our players are well documented. For far too long our players have been disenfranchised by their lack of knowledge on issues such as finance, which has had devastating impacts on their futures,” said Sapfu president Hareipha “Simba” Marumo said on Thursday.
Old Mutual’s Retail Mass Foundation managing director Bongani Madikiza said the programme would be rolled out to all South Africa’s professional football bodies, including the PSL, NFD, Bafana Bafana, and Banyana Banyana.
“By concluding this partnership with Safpu, we are able to promote financial fitness awareness… We are confident that our practical ‘On the Money’ programme and others will not only help players while their solid sporting careers are on the go, but will also ensure that they make wise investment choices for the longer term so that they can look ahead to do great things once they retire from soccer,” Madikiza said at the announcement of the programme in Johannesburg.
Labour Bureau
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