The agreement, described as a “much-need injection” by SASCOC, will provide funds for South African athletes at both the Olympic and Paralympic Games as well as other major sporting events.

It follows a similar sponsorship deal signed with Telecommunications provider Telkom at the beginning of last month.

“SASCOC would like to thank the National Lotteries Commission for the huge sponsorship they have contributed to Team SA,” SASCOC President Gideon Sam said.

“This relationship with the NLC is not new but dates back from the time when we re-entered the Olympic Movement.

“The NLC has been involved in funding our development and OPEX programmes which ultimately results in the preparation of our world class athletes.”

Sam also called on the South African public to fully support the teams which will be sent to the Olympics and Paralympics by purchasing lottery tickets.

“The public’s support is also appreciated because the money they use to purchase lotto tickets go a long way towards supporting Team SA and adding to their success.

“We can assure the NLC that their support and continued association with SASCOC has enabled our athletes to compete at the highest levels of international sports.

“This sponsorship is an indication that the NLC has full confidence in our athletes as well as SASCOC’s ability to deliver a successful Games.”

SASCOC chief executive Tubby Reddy added: “This generous sponsorship from the NLC is a tremendous boost for Team SA as we prepare for Rio 2016.

“Corporate South Africa is increasingly showing an appetite to partner with a winning team and Team SA and SASCOC can assure our country that our athletes will make us proud at Rio 2016.”

South Africa earned three gold medals at the London 2012 Olympic Games through swimmers Cameron van der Burgh and Chad le Clos, as well as their men's lightweight coxless four rowing team.

They also earned two silver and one bronze.

The country ended the Paralympic Games with eight gold, 12 silver and nine bronze medals.