Wednesday, April 22, 2009

1 Billion Rand Expected from IPL

During the tournament's five week run, the Indian Premier League cricket tournament is expected to pull in roughly 1 billion rand (~$111 million US) to the South African economy, according to President Kgalema Motlanthe.

"The envisaged financial investment that will flow into South Africa over the next few weeks is expected to be about R1bn," Motlanthe said.

He said the IPL was providing R10m in scholarship funds to 300 students and 32 schools across South Africa.

Motlanthe hailed the tournament organisers' decision to select South Africa as the host nation as "a tremendous vote of confidence".

IPL to pour R1bn into economy - Motlanthe
Cape Times via Independent Online
April 20, 2009