Millions intended to be spent on the health needs of Eastern Cape residents have gone missing from d.
Giant banking institution Nedbank marked their arrival in soccer circles in grand style with a cool R6 million first prize for South Africa's version of the FA Cup.
Speaking at the launch of the Nedbank Cup in Sandton last night, the Premier Soccer League said an estimated R20million had been put aside for the prizes.
Also known as Ke Yona (the one), the new tournament replaced the Absa Cup after the previous sponsors decided to take over as Premiership bankrollers.
Kjetil Siem, PSL chief executive, showered the new banking institution with praise for their confidence in local soccer.
"They have taken a giant leap to make sure that their contribution will aid the development and further enhance the beautiful game in the country," he said.
Siem said they were working hard to make Ke Yona not only the best tournament in South Africa, but throughout the continent.
Nombulelo Moholi of the bank's group strategy and corporate affairs said they were excited that the winners will represent South Africa in the Confederation Cup.
"By including soccer in our sponsorship portfolio, we are now in a position to contribute to building the game and giving something back to the people who eat, drink and sleep soccer."
Besides the new soccer competition, the banking institution is involved in the development of sports in general in South Africa.
The bank finances the popular Golf Challenge in Sun City at the end of every year, an event which attracts the who's who of golf globally.
In addition, it is the exclusive sponsors of Athletics South Africa's road running activities, including all the national champions. As if that were not enough, the bank sponsors the national championships for physically disabled athletes.
They are also involved in the Sports Trust, which raises funds to buy sports equipment for various clubs and organisations.
The draw for the last 32 of Ke Yona was scheduled to be made last night. Visit www.sowetan.co.za for the full draw.