Tapping investments in Rwanda’s sports & entertainment sector

Rwanda's sports and entertainment sector is on the brink of a revolution, fueled by heavy government investments and the vision of entrepreneurs like Gael Karomba. Karomba, an investor and entrepreneur, has been instrumental in shaping the next generation of artists and sports figures in East Africa through his record label and sporting facility. In a recent interview with CNBC Africa, Karomba shared his journey towards setting up successful ventures in Rwanda and his optimism for the future of the industry. He highlighted the untapped potential in the sports and entertainment sectors in Africa, particularly in East Africa, where he saw an opportunity to make a difference. Karomba's focus on music and basketball has already started to make waves in the region, with promising impacts on talent recognition and regional prominence. The government's supportive policies and leadership, exemplified by President Paul Kagame, have played a crucial role in attracting international events and fostering a conducive environment for investors. Karomba emphasized the significance of collaboration among East African countries to collectively boost the music business and compete with established industries in West and South Africa. Despite the challenges artists face in monetizing their craft, Karomba stressed the importance of viewing music as a long-term investment, requiring strategic planning and branding to establish a sustainable career. While the road ahead may be challenging, Karomba remains optimistic about the industry's potential for growth and success, drawing inspiration from the developments in the US and Nigeria's music scenes.