Three experts voiced their opinions on the issues of business in the sports sector in Africa, during the Closing Panel of CANEX WKND 2022, which took place in Abidjan, at Sofitel Hôtel Ivoire, from 25 to 27 November 2022.
For the closing of CANEX 2022, Anne-Marie N’Guessan, President of the National Union of Sports Press Côte d’Ivoire, moderated the panel on the Business of Sports in Africa. The panel, held on 27 November 2022, at the Palais des Congrès of the hotel, focusing on understanding the difficulties in this area, had three experts in attendance, namely, Eyong Enoh, former Professional Football Player, Dr Serge-Alain Ayékoé, PhD in Sports Economics, and Temwa Gondwe, Senior Manager at Afreximbank.
Concerning the continental football ecosystem, Eyong Enoh informed that panel that Africa must not be marginalised. In this regard, he observed that the ecosystem is promising, with the youth having a huge potential that would lead the Continent to the height of its ambitions.
Speaking on the issue, Dr Serge-Alain Ayékoé said that this aspect had been taken into account by the benchmarks of Agenda 2030, for the achievement by Côte d’Ivoire of the Sustainable Development Goals (SDGs). In line with this vision, vast prospects are currently being explored, with a view to identifying all facets of the issues to be highlighted.
Concerning the revenue that could be earned from sports, Tenwa Gondwé, a banker, pointed out that the different policies implemented accounted for the lack of revenue. In order to rectify this situation, African leaders have started to acknowledge that sports could contribute to the economy. He mentioned the aspects of sports that generate revenue.
Furthermore, he stated that sports is an equally important aspect, and that where there is sports, there is music, love, etc. Temwa Gondw added that business in the sports sector is similar to that of cocoa. He deplored the fact that it is taken from us and resold to us at high costs. We have adequate talent, but who manages and finances it? He then stressed that a genuine policy for sports to enable Africans to benefit from it, was essential.
Furthermore, the panelists underscored the need for training, which is the key element for a better future. The lack of data was also mentioned, as an issue afflicting football on the Continent. The expert Serge-Alain spoke of the positive developments initiated by the Ivorian authorities, who, in recognition of the importance of football, had invested 300 billion Francs in the construction of sports infrastructure for CAN 2023. The initiative would have a positive impact on the country in the not-too-distant future.