Absa drops another stadium's naming rights

"One of the outcomes of Absa's sponsorship portfolio rationalisation is a change in our approach to stadium exposure. The decision regarding Durban is a continuation of this strategy," said Happy Ntshingila, Absa chief marketing and communication officer.

It is a strong supporter of rugby in South Africa and remains committed to the promotion of the sport through its involvement in the Currie Cup, the Eastern Province Kings and three provincial rugby academies, including the Sharks Academy.

"In addition, we are in the final stages of negotiations to conclude a contract which will see the group become the official team sponsor of the Springboks," stated Ntshingila. "This latest development will solidify its strategy of sponsoring leading teams and tournaments in two of the top sporting codes in the country, soccer and rugby."

"Our strategy around our sports sponsorships has changed and we are consolidating our properties so that we can focus on the league, national teams and development," he concludes.