Nedbank holds financial summit for premiership football players

The management of finances by soccer players has become a critical issue as most of them move from rags to riches and back to rags.

Former Mamelodi Sundowns football star Simba Marumo at the football summit. Photo: Supplied

Football players’ financial management was in the spotlight at the Nedbank Football and Finance Summit.

The virtual summit, which took place on 25 July, was aimed at cultivating a measure of financial responsibility on the part of the football players. They received expert advice and opinions on how to manage their finances, especially when they fail to manage a sudden income properly? moving from rags to riches, and back to rags.

Highlands Park footballer Reneilwe Letsholonyane at the football summit. *Photo: Supplied*

The summit comes in the wake of the news of a possible return to the field for players to complete the abandoned Absa Premiership season of 2019/20 which was disrupted by the outbreak of the Covid-19 world pandemic Influential panellists at the summit included Reneilwe Letsholonyane and Simba Marumo, who both gave fans an insight into the future of football and the much-anticipated final stages of the Nedbank Cup.

Nedbank Football and Finance Summit panelists are programme director Andile Ncube, Premier Soccer League’s Luxolo September, Nedbank’s Tobbie Bardenhost and Highlands Park footballer Reneilwe Letsholonyane. *Photo: Supplied*

They also discussed and shared their experiences during the national lockdown and shared knowledge with fellow footballers and fans on how they can navigate the financial challenges posed by the current global climate, including sharing their insights on how the sporting side of football has been affected. Started in 2019, the summit was launched as a thought-leadership and knowledge-sharing platform to discuss various topics on football and finance, together with the Nedbank Cup, said Khensani Nobanda, the group executive for marketing.

PSL’s Luxolo September at the football summit. *Photo: Supplied*

“Our aim with this refreshed version of the summit is to inspire both the public and the football fraternity, through their passion for the game, to change their views on how they manage their money while exploring the effects of the pandemic on the game we love and how it can continue to thrive going forward,” said Nobanda.

Programme director of the football summit Andile Ncube, panelists former Sundowns star Simba Marumo, Nedbank’s Khensani Nobanda, and Highlands Park footballer Reneilwe Letsholonyane. *Photo: Supplied*

Nedbank’s Tobie Badenhorst at the football summit. *Photo: Supplied*

“Through our #PlayYourPart campaign we also want to bring a message of hope and to encourage South Africans to once again unite through the power of sports by watching football responsibly at home.”Letsholonyane added, “I’m excited to be a part of this initiative and thank Nedbank for the opportunity. It is an unfortunate fact that in South Africa football players lack sound financial advice. As a result, they often experience financial difficulties during and after their playing days. “Now, more than ever, players and fans need guidance, and I look forward to using my experiences to offer them some advice and solutions.”

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