Goldmine Finance Announces Shs 2.5 Billion Sponsorship to JT Jaguars Basketball Team

Government is committed to investing in sports infrastructure, as evidenced by the planned construction of two stadiums, Hoima City Stadium and Akii Bua Stadium.

The Hoima City Stadium is a multi-sport facility, meaning it will not only focus on football, athletics, or rugby, but will also have indoor facilities. This is also the plan for Akii Bua Stadium in Lira, according to Hon Peter Ogwang, the Minister of State for Sports.

Ogwang made these remarks while speaking as the chief guest at a dinner announcing a Shillings 2.5 billion sponsorship from Goldmine Finance to the Basketball team, JT Jaguars on Thursday.

“I want to confirm to you, beginning this coming month or within this month, I am very sure we will sign a formal contract with Summa Construction to construct Hoima City Stadium and we will also sign a contract early next month with a company which we have identified to construct Akii Bua Stadium. For Kampala Arena, we are now looking at the financing model which is going to be a multi-complex for purposes of all of us to benefit,” said Minister Ogwang.

He also noted that his Ministry has a Basketball budget of Shillings 3 Billion, a significant increase from the meagre Shillings 800 million allocated to the sport before he took office. He emphasized the government’s role in supporting national teams, not just clubs.

According to Allan Tayebwa, the MD of Goldmine Finance, the Shillings 2.5 billion sponsorship will be divided into Shillings 500 million each year for the next five years. The funds are intended to support the well-being of the players and purchase sports gear for the squad in local and continental competitions.

“Our dedication to the objectives of CSR is shown in this sponsorship. We recognize and value sports as a unifying force and a major source of passion for our generation. We are investing Shillings 500 million per year and this will be maintained for 5 years dependent on the team’s performance. Our plans for the team are broad, but today is the first step towards future achievements,” said Tayebwa.

He added that while there are several teams considered big in the league, they have partnered with JT Jaguars because both Goldmine and the team are hungry for success. Tayebwa noted that the White Jaguars (Ladies’ team) and Black Jaguars (Men’s team) have achieved what many other teams have been unable to do in a very short time.

“The level of success that the Jaguars have been able to achieve is an envy to many and this is why they were very attractive to us as an institution. It is not the size of the team but the quality that is able to form what we are doing today. This is why we were not looking to work with those that think have made it, we want to challenge the status quo, we think and dream big and we saw that in JT Jaguars, they are hungry for success.”

Dr. JT Nyangenya, the founder and president of JT Jaguars, expressed gratitude to Goldmine Finance for their financial support and for mentoring their members beyond the sponsorship, providing them with financial advice as an added benefit. He informed the minister that JT Jaguars spent one year in Division 1, one year in Division 2, and are now in NBL, the first team to do so.

“The story at NBL was that the Jaguars will be relegated because I maintained the young players. With our consistency, we are now at 9 wins and 7 losses. I think with a lot of assertion that relegation is not there, we are going to playoffs and that is the plan,” said Dr. Nyangenya.

He stated that as one of the top 5 upcoming basketball teams in Uganda’s National Basketball League (NBL), the Jaguars Team’s aim is to win as many games as possible across the country, region, and any other opportunities that present themselves.

During the event at Golden Tulip Hotel, the club unveiled the new jerseys for both White Jaguars and Black Jaguars. The minister bought one for USD 100 as a way to support the team, promising to attend their next game. He further promised to join Dr. Nyangenya for a visit to schools that JT Jaguars have partnered with in Kira, the home of Jaguars, to see how they can promote basketball in the primary schools and one secondary school they are working with.