(MENAFN- The Post)
MASERU – Vodacom Premier League champions Bantu have launched a new Bantu Funeral Scheme with club sponsors Metropolitan Lesotho to help the team increase revenues by having their supporters sign up on the policy.
It is not the first time the two partners have launched the product.
The Bantu Funeral Scheme was first introduced in 2017 but stopped in 2019 for revision.
Metropolitan said the scheme was growing and had large numbers of people signed up when paused as it was not benefiting the club financially.
The policy has now been redesigned with Bantu set to receive M5 from every monthly payment made by a scheme holder.
Metropolitan's Head of Life Business, Selinyane Nthejane, said the lowest premium is M25. The premiums range up to M135 and a member's coverage ranges from M5 000 to M15 000.
“Bantu supporters love their club and they supported the product and as a company we realised the product was benefiting us but the club was not (benefitting),” Nthejane said.
“We put it under review for the club to benefit from it. Every month when a member of Bantu funeral plan pays Bantu will get M5, we will discuss how it's paid,” he added.
The Bantu Funeral Scheme is just an additional benefit to the already existing sponsorship Bantu enjoys from the insurance company. The three-year contract worth up to M2.1 million has one year remaining and talks over a renewal will begin soon according to Metropolitan.
Nthejane said Bantu can use the money in any way they see fit.
He said Metropolitan are excited about the product and do not want the relationship between the two parties to end.
Speaking on behalf of Bantu, the club's president, John Leuta lauded the relationship between 'A Matšo Matebele' and Metropolitan.
He said Bantu and Metropolitan started small when they began their relationship 12 years ago and both partners vowed to grow together.
Leuta said he is happy to see their agreement is still going on.
“Bantu has grown a lot, as a club we now have new ambitions and the big one is going international,” he said.
“What is needed more in football is money and your supporters are the ones who should be supporting you and people want to see what the benefit of their money is,” Leuta added.
Leuta thanked Metropolitan for keeping their promises and said Bantu have achieved a lot, including four league titles, in the years they have partnered together.
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