Browsing: AFCON

African football AFCON
  • Sports industry in Africa is expected to grow by 8 percent in 3 to 5 years according to advisory giant PwC
  • Currently, milions of Africans, including businesses based in the continent that have pumped millions into the tournament, are following the TotalEnergies CAF AFCON 2023 finals in Ivory Coast.
  • In 2021, Cameroon invested over $800 million in preparations for that year's AFCON finals.

The 2021 African football continental showpiece—Cup of Nations (AFCON)—saw Cameroon attract millions of spectators both physically and virtually, a scenario that is music to the ears of sponsors. This further fortifies the fact that sports in Africa have the potential to generate billions of dollars.

Fast forward to 2030, Morocco is poised to become the second African country to ever stage a World Cup after South Africa in 2010, marking a historic step in African football and the business value chain that comes with the sport.

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The Roumdjé Adjia - Garoua Stadium in Cameroon. www.theexchange.africa

Football fans await the thrill, but what does the competition offer to businesses, football clubs and players, organizers, and the Cameroonian government?

Cameroon has already invested almost US$4 billion in infrastructure. Two new stadia, roads, and modern infrastructure have been built to connect the six stadia that the event will be held. The other four stadia have also been renovated.

The investment has offered short-term employment opportunities to local engineers and labourers, especially the youth, in a country where 40 per cent of the population lives below the poverty line. …

A sports talent academy. Sports, media and entertainment remain the main space where the continent continues to show promise. www.theexchange.africa

Sports has the ability to change the African countries’ economic landscapse by attract necessary attention especially through tourism.

A case in point is the 2010 World Cup in South Africa which cost the country nearly US$3 billion to organize but whose returns created an enormous intangible legacy and placed the country on a crucial global pedestal.

So important is the sporting sector in Africa that countries like Germany are investing in sports on the continent by targeting the youth who are an asset to the sector.…