Standard Bank and
Kaizer Chiefs sign a multi-million rand
Standard Bank and Soweto soccer pacesetters
Kaizer Chiefs today announced a partnership
which will see Amakhosi supporters being offered
a range of co-branded payment, savings and
Standard Bank will provide a full range of
cost effective banking products and services,
including a co-branded Kaizer Chiefs E-Plan
account and a Kaizer Chiefs credit card.
The joint business venture is one of the
largest deals between a financial institution
and a South African football club.
Under the five-year agreement, Standard Bank
will become the sole provider of financial
services to Kaizer Chiefs and will become
official banker to Amakhosi.
In return for the marketing of financial
services to its supporters, Standard Bank will
pay Kaizer Chiefs an annual marketing fee, a
percentage of all transactions made on the card
using the Maestro functionality as well as an
annual fee per active card that is signed up
onto the programme.
The first phase of the venture will see the
launch of the Kaizer Chiefs E-Plan account and
the Kaizer Chiefs credit card in the first
quarter of 2002.
The Kaizer Chiefs E-Plan card will operate
just like an ATM card, with cardholders being
able to use the card at any ATM to withdraw cash
and deposit funds as well as enquire on
statements and balances on the account. In
addition to the above, the card can also be used
to make purchases at stores that display the
Payment of certain accounts may also be paid
using the card at Pick ‘n Pay stores.
Cardholders will also be able to top-up their
pre-paid cellphone service using the account.
The Kaizer Chiefs E-Plan account will be
targeted at the estimated 12 million Amakhosi
It is the aim of Standard Bank and Kaizer
Chiefs to sign over 1 million Amakhosi
supporters the the programme within the first
year of the launch.
Says Jacko Maree, Standard Bank Chief
Executive: "We are very excited about this
partnership with Kaizer Chiefs, one of Africa’s
most successful soccer teams. Both Chiefs and
Standard Bank are significant institutions
inSouth Africa and throughout the continent.
This business venture will benefit all the
"Standard Bank will acquire new business and
provide accessible banking to Chiefs supporters,
Amakhosi supporters will gain access to an
affordable banking product and it will provide a
further opportunity for Kaizer Chiefs to promote
its brand and get closer to its supporters.
Chiefs supporters who become cardholders
will have access to our E-Plan centres and our
extensive network of ATMS.
"We hope that the partnership with Kaizer
Chiefs and its loyal supporters
will provide an ideal opportunity for us to
provide a full range of financial products to
all Amakhosi supporters. We believe that this
partnership is a step in the right direction of
promoting the government’s national imperative
of fostering a culture of savings and also
ensuring that banking is made more accessible to
all South Africans. Our partnership with Chiefs
gives us the opportunity to confirm our status
as a banker to the nation.
Says Kaizer Chiefs Chairman, Kaizer Motaung:
"Merging with a brand like Standard Bank gives
us the impetus to strengthen our own, not only
from a qualitative point of view but also from a
more tangible one. Our supporters willbe able to
show their loyalty to our club by owning a
randed banking card, and thereby receive
"This type of affinity marketing is tried and
tested and has proved to be very successful with
other sporting brands in Europe. to have found a
bank that is as progressive in their thinking as
we are. The ultimate offering to us is the
imminent ability to sell match tickets through
ATM machines. This will go a long way in
achieving and implementing solutions to one of
the problems that has come to the fore in the
Ellis Park Commission of Enquiry.