Sports For Africa: A 3-Pronged Approach Part 4 --Funding and Investment to drive the strategy

Another Thursday has rolled around and we have just six more days until the Sports Africa Investment Summit. This time next Thursday I expect we’ll be engaging in a post summit review – how the event went, what to expect going forward and how to practicalise the thoughts we have been exchanging over a period of 10 weeks leading up to the summit.

The 3rd and final part of our 3-pronged Approach for sports in Africa is the topic for today – Funding and Investment to drive the strategy for sports industralisation on the continent. The first two parts of the strategy dealt with create a market for goods and services and supply that market with what it demands. A colleague put it in a simple way for me. To him, sports works primarily because of the ecosystem around it and not necessarily because of the sport itself. The sport is the access to the ecosystem that develops to support it, therefore, to him, a considerable effort should be made to develop the ecosystem and monetise that ecosystem, same way as is done in countries and regions that are referred to as sporting nations.

At the Sports Africa Investment Summit, the first and second Plenary Sessions will focus on creating the market for sports through deploying it as a strategy for social and community development, then supplying that market by ensuring that the elements contained in the value chain of sports all contribute to the basket of products, goods and services that the market wants. ?The 3rd and final Plenary Session at the Summit will focus on how to fund what is required for the first two parts of the Approach to work.

Where’s the Money to deliver 2-3% GDP contribution by sports? Critical questions that will come up include examining the elements of the ecosystem required to drive the development of the sports industry and how to attract the investment into these areas in order to service the demand for sports goods and services. ?The cross-cutting attributes of sports also provides opportunities to develop the ecosystem in areas of service to the ancillary sectors of the industry. The army of professionals such as lawyers, corporate communication experts, business managers, architects and engineers, medical officers, PR and media personnel, security operators, stewards etc., are all necessary adjuncts to the functioning of a properly managed sports industry whether for mass participation or professional sports that encompasses clubs, leagues, tours, competitions and events.

Conversations during this Plenary Session are also expected to deliver a clear definition of the business and funding models that should be considered in taking advantage of the transformational potential of sports as business, and come up with strategies to stimulate and measure investor interest in financing sports development in Africa. Stakeholders should be able to situate the opportunities and constraints for industralisation and commercialization of sports in Africa, and map out how they can leverage the opportunities to attract the funding and investments we would need to deliver on jobs, revenue, social and economic development of the continent through sports.

Questions around such areas as:

1. How sports can create economic opportunities and contribute to local and national industrial growth.
2. Strategies for developing sports infrastructure that also supports broader industrial needs, such as manufacturing, transportation and urban development.
3. Identifying and promoting investment models that effectively leverage public-private partnerships in sports and related industries.
4. How sports can drive innovation in technology, manufacturing, and services that support industrialization.
5. How to ensure equitable access to sports facilities and programs, particularly for marginalized communities.
6. What metrics and indicators to assess the economic impact of sports investments on industrial growth and community development
7. How to ensure sustainable practices in sports development that minimize environmental impact while maximizing economic benefits.

Of critical importance would be the various roles all stakeholders would be expected to play regardless of sector (private, pubic, social enterprise), so that sports truly lives up to its potential for advancing the development of the Africa We Want in 2063.

At the end of the two days of deliberations and exchange of ideas, thoughts and possible strategies, it is expected that we arrive at certain key outputs:

1. Secure commitment of national and sub national governments to the targets of repositioning the sports industry as driven by private sector investment.
2. How to create high value demand hubs and facilitate market access through partnerships, business-driven relationships and advocacy for harmonized regulatory reform especially in relation to mass participation, IP rights and incentives.
3. Achieve the target of securing investment interest and participation in showcased sport projects in the Deal Room.
4. Secure commitment from development organisations, ?and financial institutions towards investment models that resonate around pooling of sports-specific institutional funds.

The Sports Africa Investment Summit (SAIS) is a recurring annual event designed to engage, promote and maximize collaborations for sustainable investment in Africa’s sports industry. It is a platform where we expect that intelligence and insight can be shared with investors, the private sector, national governments, policymakers, development partners, National and Continental Sports Federations, and other industry stakeholders, to provide information and demonstrated competence that can guide the delivery of bankable sport projects that have social and commercial impact.

SAIS will also provide a platform for stakeholders, investors and investees to articulate and provide clear and concrete short- and medium-term investible projects, governance and institutional strategies required to unlock the identified potentials and deliver returns for the ecosystem and its practitioners.

If you have not already registered to join the conversation to contribute your quota to unlocking the sports industry in Africa, ?visit ?www.sportnigeria.ng/SAIS today to register. #SAIS is only 6 days away!

Next Thursday we’ll review SAIS and see how much of our target we achieved in terms of the outputs at the summit.

Have a great weekend