The ANC Youth League said Nedbank had committed itself to sponsoring sports development in South Africa, following a meeting on Friday over transformation concerns, a statement read.

"The ANCYL and Nedbank reached common ground on critical issues, particularly the following: Nedbank has undertaken to engage with other South African corporates and government to find ways to further support the development of deserving athletes.

"Nedbank reaffirmed its commitment to continue the support for road running at large in South Africa.

"The ANCYL is satisfied that Nedbank has shown commitment to sponsor sports development in South Africa and heeded to our call that corporate South Africa should sponsor the (International Assocation of Athletics Federations) world championships medallists."

Nedbank's sponsorship withdrawal

At its meeting with chief executive officer Tom Boardman in Kempton Park it expressed concern over what was presented as Nedbank sponsorship withdrawal from Athletics South Africa (ASA).

It also discussed the need for corporate South Africa and Nedbank in particular to sponsor sports development and successful sports athletes.

The delegation included ANCYL president Julius Malema, his deputy Andile Lungisa, secretary general Vuyiswa Tulelo, deputy secretary general Steven Ngobeni, treasurer general Pule Mabe and spokesman Floyd Shivambu.

The league has previously threatened a boycott of Nedbank if it does not retain its sponsorship of ASA.

It believes Nedbank withdrew its sponsorship to undermine the transformation of athletics in South Africa.

This, after Nedbank withdrew sponsorship of the Matha Series races, saying it was unhappy with the "quality of delivery".

The league interpreted the move as a reaction to the handling of the Caster Semenya controversy, after it emerged that the 800m gold medal athlete had to undergo gender verification tests.

The bank was expected to issue a statement soon.

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