BancABC reduce Bosso sponsorship

Bulawayo giants Highlanders have renewed their sponsorship deal with banking giants BancABC, though there is a significant reduction in the monetary figures involved as compared to the last two years.

During their annual general meeting at the team's club house on Sunday, it emerged that the banking firm, who are the team's major revenue contributor, committed themselves to pay $400 000 for the 2015 season, compared to the $700 000 they availed to the club last year.

Highlanders' end of year report reflected that the club, which is one of the biggest teams in the country, suffered a cumulative net loss of $617 609, a situation that will also affect their planning for the forthcoming season.

According to Peter Dube, who was retained as club chairman following the club's AGM on Sunday, the team will to have travel on match days in the 2015 season to cut on costs.

"The sponsorship downgrade means that we will have to come up will new strategies to cut down on costs like travelling on match days to eliminate lodging expenses," said Dube, who remains confident that the current losses do not pose a threat to the club's immediate future.

"The (Highlanders) management is aware that the going principle underlines the assumption that the club will remain in operation into the foreseeable future," he added.

A total of 307 club members attended the Highlanders AGM, which was exclusive to paid up members and the former league champions are now set to have their elections on February 1 as they seek to elect an executive that will spearhead their bid for a first league championship in nearly a decade.