All data is delayed
See More

Lotto reduces sports funding

Oct 28 2012 10:16
Johannesburg - The National Lotteries Distribution Trust Fund (NLDTF) has reduced the amount money it gives the country's Olympic athletes, it was reported on Sunday.

The NLDTF had capped grants given to each sports body at R2m, because it said the number of applications had doubled, The Sunday Times reported.

Sporting codes such as swimming, rowing and canoeing had received R8m in each of the past three years, the newspaper reported.

South Africa won six medals in these codes at the recent London Olympic games.

Sporting experts said the funding cap would put the country on a back foot as it prepared for the next Olympics in 2016, the newspaper reported.

The SA Sports Confederation and Olympics Committee told Parliament this week that it needed R400m to prepare for the next Olympics.

The money would be used to fund teams and ensure sporting federations maintained their infrastructure and developed young athletes.

"We had an ask of R72b and we had R2bn [to allocate]," NLDTF spokesperson Sershan Naidoo told The Sunday Times.



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote