Investment
Investing in the BAL’s Success: Room for Private Investment in African Sports By Aubrey Hruby, Luke Tyburski
Africa was ignored by professional basketball, despite producing talent. But as the NBA wakes up to the market potential of the billion-strong continent, things are changing. An investment by Barack Obama and Nigerian investors brought the inaugural season of BAL to the continent. NBA STARS CONTINUE to break records garnering excitement from fans around the world as they follow their favorite teams. The NBA fan base has become increasingly global over the past decade and the league recognizes the importance of unlocking new audiences and discovering diverse talent. Sports represent a $700bn a year industry but entire regions – home to billions – have historically
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been sidelined. This started to change in 2008 when the NBA invested $253 in NBA China—an investment now valued over $5bn. African countries, though producing strong basketball talent for decades, have been largely ignored as a market. No longer. In 2019, the NBA announced the creation of the Basketball Africa League (BAL) and in 2021 unveiled the operational entity NBA Africa. Former President Barack Obama joined a group of private investors in backing the new venture, including prominent Nigerian investors Babatunde “Tunde” Folawiyo of Yinka Folawiyo Group and Tope Lawani of Helios Fairfax Partners Corporation. The inaugural season of the BAL was played in Rwanda in May 2021 and reached a global audience, while attracting high-profile partners. Investors can be a part of this fast growth story by looking at opportunities in sports infrastructure, DAWN
www.africabusinessassociation.org
Egyp Bask
