Accra, Sept. 3, GNA - The State Insurance Company Limited (SIC) on Friday, presented a cheque for 40 million cedis to the Sports Writers Association of Ghana (SWAG) towards this year's SWAG Challenge Cup. The cup match would be played between city rivals Kumasi Asante Kotoko and King Faisal at the Kumasi Sports Stadium on Wednesday, September 15.
The 40 million-cedi presentation marks an increase of 60.4 per cent over last year's 25 million cedis.
The company also donated a giant trophy dubbed the "H.P. Nyamitei Challenge Cup" plus an insurance package worth more than 10 million cedis for players and officials of the two competing teams.
Mr Peter Osei-Duah, Managing Director of SIC who presented the cheque to SWAG president Ebo Quansah said, the gesture is the company's contribution towards the development of sports in the country.
He said SIC was determined to continue with its support for sports development as it has done in the past where it employed a lot of sports personnel in the company.
Mr Osei-Duah was full of praise for the late H.P Nyamitei who was a former Deputy Managing director of SIC and a renowned sports administrator.
Mr Quansah expressed appreciation to the company for the donations and urged other corporate bodies to support the association. He recalled that corporate bodies in Greece played a significant role in the organisation of the just ended Olympic Games in Athens and urged companies in Ghana to take a cue from it.
"The CAN 2008, therefore, provides Ghanaian companies the opportunity to emulate the example of Greek companies", Mr Quansah said. 03 Sept 04