MARRAKECH, Morocco, November 13, 2023/APO Group/ —
Herbert Mensah, the newly elected President of Rugby Africa (www.RugbyAfrique.com), 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.
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