Ghanaian champions Medeama SC have secured a significant sponsorship deal with Nguvu Mining, replacing Goldfields as their shirt sponsor for the upcoming 2023-24 season.
The formal signing of the agreement and announcement is scheduled for Friday, October 6, 2023, during a press conference in Accra, Ghana’s capital.
While the exact financial terms of the deal were not disclosed by the club, sources suggest it falls within the range of $300,000 to $400,000 annually.
This partnership marks a major financial milestone for the club.
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Nguvu Mining’s logo will prominently feature on Medeama’s renowned Mauve and Yellow jerseys for the upcoming season, providing crucial financial support to the club.
This development comes at a crucial time for Medeama, who recently achieved a historic qualification to the group stage of the CAF Champions League, a notable accomplishment in their first attempt.
The club had faced financial challenges following the withdrawal of sponsorship from Goldfields, citing financial constraints.
About Nguvu Mining
The decision of Nguvu mining to sponsor the club has been timely as the Ghanaian champions marshal resources to compete against the crème de la crème of African football.
Nguvu Mining was started by Angela List, a Ghanaian having over 20 years of experience in the mining industry, mainly in mining services
The first acquisition of an operating mine was Adamus Resources Limited in Ghana, from Endeavour mining in the last quarter of 2016.
In 2018, Nguvu acquired Segala Mining SA in Mali, also from Endeavour mining.
In 2019, the group acquired 80% of Samira Hill SA, a mine in Niger, formerly owned by Semafo Inc, from the government of Niger.
This was followed by the acquisition of Northern Ashanti Mines Co. Ltd., formerly Owere mines, in Ghana.
The group also has an advanced mine in Burkina Faso, acquired from Newmont, and expects that to go into production by the end of 2023.
Other assets in the group include exploration licenses in Cote d’Ivoire and Liberia.
Nguvu currently recovers, produces and sells around 250,000 Oz of gold on an annual basis. This production is expected to grow further from current operations and new developments.
Nguvu currently employs around 3,000 people. 90% of its workforce is locally employed and so is 60% of its management.
SOURCE: GHANASOCCERNET
