Star Life Assurance has signed a five(5) year partnership agreement with Kumasi Asante Kotoko with the insurance company replacing Hollard as the official insurance partner of the club.
As part of the partnership agreement, Star Life Assurance will give Kotoko 5 Million cedis within the five(5) year duration and also support the with construction of the first phase of Kotoko’s Adako Jachie training complex with Ghc200,000 Ghana Cedis.
Kotoko will also have an insurance package named Fabu Assurance.
The package has four products consisting Fabu Motor Vehicle insurance, Comprehensive Home owners insurance, personal accident cover and travel insurance. Selling these insurance package will fetch Kotoko a commission of Ghc33 million within the 5 year period.
Kotoko CEO Nana Yaw Amponsah addressing the media in a ceremony to outdoor the agreement said, his outfit will do all it can to ensure Star Life benefits from this relationship.
“We like to call it partnership and it is partnership because, we don’t believe in the approach where we go to a company where we will say give us A,B and C without the company not benefiting anything from us. We believe in entering in a relationship where each party benefits. I have always said that brand association like this, if we are able to secure the relationship and demonstrate to the company coming on board for them to know they are going to get three times what their giving us because if they receive nothing then it becomes a charity sort of relationship.” He told the media.
This is the second Ghana premier league club to benefit from this arrangement from Star Life Assurance as a similar agreement exist with Kotoko’s arch rivals Accra Hearts Of Oak.