Industry Chatter: Senegalese football star Édouard Mendy, who won the AFCON with Senegal and the Champions League with Chelsea, making him one of the most decorated African goalkeeper in history, recently announced the launch of his Change Keepers program. Having invested in ScorePlay and contributed two years in a row in Viva Technology - Paris’ Tech Fair- Mendy has established himself at the forefront of African athletes investing in the innovation ecosystem. The program,  in partnership with Haskè Ventures’ Ignite E, will welcome  Senegalese entrepreneurs aged 18-40,  give them access to a free co-working space, training as well as a 5000 euros grant. To apply: click here. 

Our friends at Afroballers are hosting an invite-only event around the NBA drafts featuring top African prospects. This exclusive event aims to promote value creation by celebrating the fusion of basketball and African heritage. The event is set to take place here in New York City on June 23rd. RSVP by contacting [email protected].

THE 3-POINTER

Last week, the African Development Bank Group elected its new President in Mauritania’s Sidi Ould Tah. In a stunning victory, Tah’s platform’s focus to unlock new partnerships with emerging economies including in the Middle East played an overwhelming role in securing the votes to bring him to victory. While the President-Elect gets ready to take over from his predecessor, Dr. Akinwumi Adesina - a sports champion himself - here’s three avenues that we at #AfricaScores think are worth exploring for the Bank to get more involved into sports:

1. Scaling Public-Private Partnerships (PPPs) for Multipurpose Hubs
In a recent conference, the Bank’s Vice-President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor advocated for the consideration of sports as a development catalyst. The Bank is uniquely positioned to bring at the same table decision-makers from the public and the private sector to develop innovative frameworks to help accelerate Africa’s sports infrastructure: a replicable template is Nigeria’s Abia State Sports Special Economic Zone (SSEZ), a PPP-driven hub integrating sports facilities with manufacturing, aiming to create jobs and position Aba as a global sports goods producer. By co-financing such projects with governments and private investors, the Bank could turn sports infrastructure into hubs that deliver on the promise of economic returns and social impact. 

2. De-Risking Sports Projects to Unlock Capital

Africa's inflated risk perception discourages private investment and results in significant financial losses as well as difficulty to raise for Africa-specific projects. To counter this, the Bank can attract global investors to the African sports sector by implementing sector-specific guarantees. Additionally, technical assistance funds for feasibility studies and capacity building in sports-related projects can be utilised to bolster investment.

3. Building Infrastructure Corridors Around Major Sports Hubs
Finally, the Bank could lean on strategic investments in infrastructure around existing sports hubs like Rwanda’s BK Arena or Senegal’s Diamniadio Sports City to maximize spillover effects. The Bank should prioritize transport links (roads, rail) to improve access to venues, affordable housing and mixed-use developments such as Masai Ujiri’s soon-to-be-unveiled Zaria Court near hubs to create inclusive urban growth. It has most recently done so by providing Morocco with a $685 million investment geared towards supporting an upgrade of the Kingdom’s key transport infrastructure ahead of the 2030 World Cup.

In the long-run, we at #AfricaScores believe that a spin-off development financial institution dedicated to sports, where the Bank serves as an anchor, could be an interesting play to consider. Such an organisation could be specifically designed to address the needs for countries to upgrade their sports infrastructure and to support sports-specific companies in their effort to scale.

A Final Note

SCORE WITH US

#AfricaScores is growing ! We are open to receiving more contributions and provide a platform for African voices of the sports industry. Write to us here: [email protected]

If you are a corporation and would like us to explore an opportunity to collaborate on a knowledge product, please write to us at [email protected]o

Until Friday after next,