Afreximbank invests in Africa’s growing creative sector

In a bid to support a sector that generated $4 billion towards African economies in 2022, according to data from the UNCTAD, Afreximbank has announced plans to double funding to its Creative Africa Nexus program over the next three years. This move is poised to have a significant impact on the sports and entertainment industry across the continent. To shed more light on this development, CNBC Africa's Kenneth Igbomor sat down with Amadou Gallo Fall, the President of the Basketball Africa League, to discuss the implications of this investment. During the conversation, Fall highlighted the importance of creating an ecosystem that allows African talent to thrive and maximize their potential. He emphasized the need for tangible actions and implementation to drive the growth of the industry. Fall pointed out that while Africa possesses immense talent, there is a crucial lack of infrastructure to support its development. He underscored the importance of investing in arenas and creating a robust ecosystem around sports and entertainment to boost economic growth and showcase African talent on a global scale. The launch of the Basketball Africa League is a step in this direction, aiming to create opportunities for local talent and drive the development of world-class infrastructure. Fall emphasized the potential for economic growth and the wide-reaching impact that a thriving sports and entertainment sector can have on the continent. He highlighted the enthusiasm and support shown by fans across various African markets, indicating a growing demand for high-quality entertainment experiences. The success of the Basketball Africa League in attracting sell-out crowds in multiple countries underscores the untapped potential and opportunities in the sector. Fall stressed the need for concerted efforts to capitalize on this momentum and translate it into sustainable growth for the industry. The interview concluded with a call to action for stakeholders to prioritize infrastructure development and investment in African talent to unlock the full potential of the sports and entertainment industry across the continent.