SAFPU to launch financial aid program
Posted: 7 May 2015 Time: 19:58
The South African Football Players Union are set to launch a new programme to educate local footballers on how to manage their finances.
SAFPU, in conjuction with Old Mutual, have developed a programme to help professional players from the PSL, NFD, Bafana Bafana and Bayana Banyana manage their finances.
This development comes at a time when financial education is a huge issue amongst local footballers who have left the beautiful game and have fallen into destitute.
More often than not, footballers spend their money on non-essential luxuries during their playing days, only to be starved of income once their playing days are over.
'On the money' will attack the issue of lack of financial knowledge amongst professional footballers today, so to avoid recurring situations such as former Bafana Bafana striker Sizwe Motaung, who died in poverty.
"The union is very excited about this partnership with Old Mutual," SAFPU president Hareipha 'Simba' Marumo told Business Report on Thursday.
"The challenges facing our players are well documented.
"For far too long our players have been disenfranchised by their lack of knowledge on issues such as finance, which has had devastating impacts on their futures,” he added.
Old Mutual’s Retail Mass Foundation managing director Bongani Madikiza reiterrated the importance of "financial fitness" amongst our local football stars.
"By concluding this partnership with Safpu, we are able to promote financial fitness awareness…
"We are confident that our practical ‘On the Money’ programme and others will not only help players while their solid sporting careers are on the go, but will also ensure that they make wise investment choices for the longer term so that they can look ahead to doing great things once they retire from soccer,” said Madikiza.