Africa is set for a sporting boom in the next decade that can be a significant driver of economic growth and social change, with many involved in sports from outside the continent starting to realize it as fertile ground for opportunities.
With a young and increasingly connected population, Africa is currently underutilized in the global sports market according to several experts, but that may be about to change.
The continent achieved an annual growth in the sports business of 2.8% in the last three-five years, but this is expected to accelerate to 8% in the next three to five, with only the Middle East (13.5%) and North America (9.5%) having better prospects, according to PricewaterhouseCoopers' most recent Global Sports Survey.
Ricardo Bernard is partner at American law firm Akerman LLP and has advised on numerous deals in Africa's sports industry, including Omega Sports Holding's recent investments in an NBA Africa franchise and Racing Club d'Abidjan, a football club in Côte d'Ivoire.
"There has been a boom of sports as an asset class in Africa," Bernard tells FORBES AFRICA. "And I think that is going to continue across multiple sports and across multiple verticals.
"Whether that's rugby in South Africa and Kenya, football in West Africa or even motorsports, there is going to be an incredible demand. But also, for real estate investors, there's going to be an opportunity to provide the assets to allow those teams and sports to flourish." Investment in sports teams globally is on the up, but if stakeholders want to acquire a football club in England or Spain, or a rugby team in France, the figures to do so can be eye-watering.
Bernard believes Africa can provide investment in professional sports franchises for a fraction of the cost, but which can create attractive returns.
Diese Geschichte stammt aus der August - September 2024-Ausgabe von Forbes Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August - September 2024-Ausgabe von Forbes Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
TRACK, WATCH, BEFRIEND
IN THE PRISTINE WILDERNESS OF GABON ARE THE MAJESTIC AND GENTLE WESTERN LOWLAND GORILLAS. A FIRSTHAND REPORT FROM OUR TRAVEL WRITER ON WHAT GOES INTO HABITUATING THEM.
CHALLENGING BUT NECESSARY: THE AI BALANCING PROBLEM
Artificial intelligence (AI) continues transforming many industries, providing unprecedented opportunities for innovation and efficiency. However, these advancements bring complex challenges that necessitate a delicate balancing act.
BEYOND ACADEMIA: THE SOCIETAL IMPACT OF MULTILATERAL EDUCATIONAL COLLABORATIONS
The great poet William Butler Yeats once said, \"Education is not the filling of a pail, but the lighting of a fire.\"
The Business Of Dance: Embracing One's Individuality And Style
In the dynamic world of street dance, passion and perseverance pave the way for success. Living out this ethos is South African born B-girl turned businesswoman, Courtnaé Paul.
COMPASSION FATIGUE: THE DANGEROUS DESCENT FROM HELPING TO HURTING
It is a workplace reality that caring too much for your colleagues can hurt you.
IT HAS NEVER BEEN MORE CRITICAL TO FIND OUR NICHE
Have you found your niche? I received a lot of advice when I set up my company, but perhaps the most important consisted of just three words: Find Your Niche.
HOW TO MAKE AFRICA WIN OFF THE FIELD TOO
When all else fails, try sports. It's good for the soul.
BEAN THERE, DONE THAT
British author Roald Dahl tapped into every chocoholic's imagination when creating Willy Wonka's bizarre chocolate factory in his 1964 children's novel Charlie and the Chocolate Factory.
IT DOESN'T GET ANY BETTER THAN WORKING WITH AL PACINO ON BROADWAY'
Arnold Vosloo Actor
BLENDED FINANCE: BRIDGING THE GAP IN EMERGING MARKETS IN SUPPORT OF THE SDGS
Amid the widespread global support for the United Nations' Sustainable Development Goals (SDGs), there was an underlying concern among economists and financial advisors in the emerging and frontier markets: public sector and donor funds were stalled, if not regressing, and the funding gap to realize the SDGs was increasing.
