'South African union secures player’s financial future'
Thursday 02 August
The South African professional footballers’ association SAFPU made a great step in securing the future of its members. With the help of Liberty Retail SA, the players’ union is going to teach current and former players about personal finance.
SAFPU announced a sponsorship deal with Liberty Retail SA. Among others, this company will organize financial literacy workshops for former and current players, as well as players within a developmental and school level. These footballers will be educated about personal finance and how to accrue and maintain financial fitness, and investments. These workshops should create a foundation for life after football.
‘For too long our players have been enslaved by a lack of knowledge on issues such as finance, which can have a devastating impact on their futures’, explained Hareaipha Simba Marumo, the president of SAFPU. ‘With Liberty’s expertise, we look forward to a new generation of financially wise footballers who will result from these programs.’
’We are excited about our partnership as it speaks to the heart of what we want to achieve as an organization.’
In South Africa, there is great concern about the problems footballers face when their professional football career is over. Despite their good salaries during their playing days, many of them fail to prosper after their career has ended due to mismanagement of money.
Lindi Diamini, executive for retail at Liberty Group, said: ‘Because players are role models for the youth, we intend to change players’ financial futures for the better so they never have to suffer the indignity of having nothing to show for their careers.’
‘We see this collaboration as an opportunity to help many more South Africans through the football players and their communities.’
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