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Vodacom Breach the Contract to Sponsor Premier League
The next season of the Tanzania Mainland Premier League will no longer be called Vodacom Premier League Ligue (VPL) after Vodacom broke its contract to continue sponsoring the Premier League for various reasons cited by management
The next season of the Tanzania Mainland
Premier League will no longer be called Vodacom Premier League Ligue (VPL) after
Vodacom broke its contract to continue sponsoring the Premier League for
various reasons cited by management.
Vodacom has stated that it does not intend to
continue sponsoring the Tanzania Mainland Premier League, with the main reason
being its unsatisfactory business conduct. According to the company's initial
financial report for the financial year ended March, 2021 Vodacom incurred a
loss of Sh30 billion unlike the previous year (March 2020) where they incurred
a profit of Sh45.76 billion. The statement said the company, which has been
sponsoring the Premier League for 10 years, suffered losses due to its more
than 2.9 million customers being suspended for failing to complete fingerprint
registration and other tax reasons.
Yesterday in an exclusive interview with this
newspaper Vodacom CEO, Hisham Hendi said it has been a great honor to sponsor
the Tanzanian league named after them for more than 10 years and will continue
to be so but due to the company's successful performance will not continue.
"We enjoy the partnership and we love it, the league has been called our name, but for a company that is making a loss, today if you can't get up you have to look at your costs and in difficult circumstances you have to make tough decisions," he said. He said sponsorship of the league is one of the things that cost them a lot of money as they have been paying billions of shillings for sponsorship but now they have to give up. "Every season we spend more than Sh3 billion, but maybe we can have discussions with the TFF in the future but for now we have to make tough decisions not only with league sponsorship but also with other cost-cutting factors," said Hendi.
He said as a listed company in the stock market and
many shareholders are watching them, so it is important to make decisions that
are right for them. Hendi added they are finishing this final season but
starting next season they will not be there. Vodacom's contract was due to
expire next season and he said they had already written a letter to TFF
informing them of the matter but TFF had not responded. When contacted, TFF
president Wallace Karia said he would be looking for the Chief Executive of the
League Board, Almasi Kasongo, who also said they did not have the information and
if they did, they would issue an official statement.
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