Standard Bank says CSA’s governance simply wasn’t cricket
The bank’s R100m-a-year sponsorship of the cricketing body will not be renewed after April
The corporate governance howlers of late last year at Cricket SA (CSA) appear to have been so bad the national governing body has failed to convince its long-time headline sponsor Standard Bank to remain on board.
The end of the relationship does not come as a surprise as the title sponsor of the men’s national Test and ODI side announced in December last year, at the height of upheaval within the sport, that it would not renew its deal with the organisation when it expires at the end of April.
“Standard Bank has been a remarkable commercial partner to CSA. Its presence in SA cricket will be sorely missed‚” said CSA chief commercial officer Kugandrie Govender in a statement on Wednesday.
She said the bank played a huge role in CSA’s development projects over the years. “We cannot stress enough the impact of the Standard Bank investment into the development of cricket and for this we will forever be grateful, as should every fan that raises our flag with pride.”
CSA acting CEO Jacques Faul also thanked Standard Bank for its support. “We are extremely grateful to Standard Bank for everything it has done over the past four years and also in its previous sponsorship period, which dates back to 1998 and lasted for a decade.”
CSA was jolted in December after the banking giant announced it would not renew its R100m-a-year sponsorship.
In announcing the intention to terminate it in December last year‚ the bank’s group marketing and communications chief Thulani Sibeko said in a statement that CSA’s administrative governance issues “damaged Standard Bank’s reputation”.
“We wish the national cricket team well in the years ahead. The Test‚ ODI and T20 teams have made South Africans immensely proud over the years and we are grateful to have been a part of their journey‚” said Sibeko at the time.
Suspended CEO Thabang Moroe and his leadership was heavily criticised after a litany of reputation-damaging blunders that resulted in the resignations of a number of independent board members.
However, the desperate move by CSA a few weeks before, when Moroe revoked and later reinstated accreditations of five journalists, seems to have rubbed the bank the wrong way.
Correction: May 1 2020
An earlier version of this article stated that Kugandrie Govender is Standard Bank's chief commercial officer. She is CSA's CCO.