Sponsored
Business

Rugby Africa President & African Development Bank President Confer On Advancing Sports Infrastructure In Africa

Sponsored
Sponsored

Herbert Mensah, the newly elected President of Rugby Africa, the continental governing body for rugby in Africa, recently engaged in a 45-minute face-to-face meeting with Dr Akinwumi A. Adesina, the  President of the African Development Bank Group (AfDB). The meeting, held during the African Investment Forum in Marrakesh, Morocco, focused on the crucial topic of sports infrastructures in Africa.

During the meeting, President Mensah and Dr Adesina discussed the significant potential of sports as a thriving business in Africa, with a particular emphasis on advancing development of sports infrastructure across the continent. Recognizing the pivotal role of sport in economic growth and community well-being, both leaders explored strategic conversations to harness the continent’s potential.

President Adesina took a moment to extend his heartfelt congratulations to the South Africa Springboks for their triumph at the Rugby World Cup. He emphasized the victory’s significance in maintaining Africa’s status as the reigning champion of the world for another four years.

The newly elected President of Rugby Africa, Herbert Mensah, continues to emphasize the business potential of sport across Africa. Since his election, Mensah has called for a change of mind-set among African governments and international organizations and to fully embrace, support and increase investment in rugby across Africa, as a wealth and development creating activity.

“With abundant talent and the world’s attention, Africa stands at the forefront of the global marketplace,” said Mensah. “It’s time to turn this potential into power, investing in ourselves, forging structures that allow our resources to fuel our own growth, breaking free from the cycle of export and import that hinders the realization of our true economic potential.”

The sports industry in Africa is experiencing rapid growth, with significant potential to generate jobs, improve public health, foster social inclusion, and drive economic growth.

According to PricewaterhouseCoopers (PwC), the industry was valued at $7 billion in 2018, with an expected growth of $12 billion in 2027. Despite the potential, investment across Africa remains limited, with only 1% of start-up financing directed towards the sports sector.

Sponsored
Alinnor Arinze

Recent Posts

Dangote Refinery Cuts Fuel Prices Again, Signals Further Moderation

Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium…

3 hours ago

Rescue Mission: Governor Lawal Approves N7.2bn for Community Projects Across Zamfara

Zamfara State Government under the leadership of Governor Dauda Lawal has earmarked N7.2 billion for…

4 hours ago

Tokunbo Wahab And The Burden of Responsibility; More Kudos Than Knock

BY OLADAPO SOFOWORA In the relentless theatre of Lagos' environmental space, the stakes are measured…

4 hours ago

NUT’s Suspension Of Strike Demonstrates Patriotism, Commitment To Pupils’ Future – Adeniran

The Executive Chairman of the Oyo State Universal Basic Education Board (OYOSUBEB), Dr. Nureni Aderemi…

4 hours ago

Comrade Dauda Joins Residents As Ikeja Hosts Celebrity Boxing Promotion

The Executive Chairman of Ikeja Local Government, Comrade Akeem Olalekan Dauda (AKOD), on Wednesday joined…

6 hours ago

Buruj Academy Duo Raheem & Fawas Set For Italy, UK, Netherlands Tour

Golden Eaglets stars, Raheem Moyinoluwa Salaudeen and Fawas Ayomide Adeleke, are set to resume preparations…

6 hours ago
Sponsored