The South African Sports Confederation and Olympic Committee (SASCOC) has received a financial boost of R70 million (£3.6 million/$4.8 million/€4.3 million) ahead of Rio 2016 as a result of a sponsorship deal with the National Lotteries Commission (NLC).
The agreement, described as a “much-need injection” by SASCOC, will provide funds for South African athletes at the Olympic and Paralympic Games as well as other major sporting events.
It follows a similar sponsorship deal signed with Telecommunications provider Telkom at the beginning of last month.
“SASCOC would like to thank the National Lotteries Commission for the huge sponsorship they have contributed to Team SA,” SASCOC President Gideon Sam said.
“This relationship with the NLC is not new but dates back from the time when we re-entered the Olympic Movement.
Sam also called on the South African public to fully support the teams which will be sent to the Olympics and Paralympics by purchasing lottery tickets.
This sponsorship is an indication that the NLC has full confidence in our athletes as well as SASCOC’s ability to deliver a successful Games.”
SASCOC chief executive Tubby Reddy added: “This generous sponsorship from the NLC is a tremendous boost for Team SA as we prepare for Rio 2016.
South Africa earned three gold medals at the London 2012 Olympic Games through swimmers Cameron van der Burgh and Chad le Clos, as well as their men’s lightweight coxless four rowing team.
They also won 2 silver and 1 bronze.
The country ended the Paralympic Games with 8 gold, 12 silver and 9 bronze medals.