First Quantum, the Toronto, London and Lusaka-listed metals and mining company has committed K1.3 billion to broadcast live the sponsorship of 2012 Africa Orange Cup of Nations Games (AFCON) on Zambia National Broadcasting Corporation-ZNBC television and radio.
The K1.3 billion that First Quantum has put in reduces the shortfall of the national broadcaster to K800 million of the total budget of K2.1 billion.
The sponsorship gives the mining company that has come up with more than 60 percent of the total budget is certain of exclusive advertising rights on the national broadcaster.
First Quantum Minerals Resident Director Kwalela Lamaswala who announced the sponsorship in a statement to ZNBC news said the live broadcast of the games on the national television and radio will buy the Chipolopolo to gun for the top prize in Africa’s presigious soccer competition.
First Quantum had tabled the sponsorship offer to ZNBC management three weeks ago, outlining the desired exclusivity clauses by the mining company.
Lamaswala has urged other players in both the private and public sectors to fill the gap. Lamaswala stressed that the gesture by First Quantum, co-owners of Kansanshi Mine with the government of Zambia, is one vivid way in which the mining company ensures that the benefits from the mineral wealth of the nation benefits Zambians in a significant manner.
It is however, not clear how other business houses would fill-up the gap since, with exclusive advertising rights, no one will be allowed to put up adverts other than FQM. ZNBC will also not be able to make further profits from other business houses that might want to advertise during these games./ZANIS