Abidjan: February 13, 2024: On the sidelines of the semi-finals of the 2023 TotalEnergies Africa Cup of Nations (AFCON), African Export-Import Bank (Afreximbank or “the Bank”), the Confédération Africaine de Football (CAF) and the Rebranding Africa Forum (RAF) signed a charter that will allow them to collaborate in positioning football as a lever for growth and to promote inclusivity in football on the continent.
The potential of the sport industry on African livelihoods is evident: the sector is expected to grow by 8% over the next 3-5 years to reach USD 12 Billion in 2027 and, in football, over 500 African players are contracted across 11 prominent European leagues. Furthermore, the continent accounts for a vibrant youth population, that is key and strategic in driving the growth of the sector.
The charter will allow the Bank, CAF and RAF to focus on critical areas requiring improvement so as to build a robust sport economy, such as, sport infrastructure, advocating for more favourable policies and capacity building. The charter will also pave way for a concerted effort in propelling women’s football forward, given this untapped potential of the industry.
Additionally, that through its Creative Africa Nexus (CANEX) initiative, Afreximbank would work with the CAF and RAF to commercialize and monetize Africa’s football value chain so that CAF events can become a platform for an integrated promotion and commercialization of Africa’s creative and cultural industry.
While commenting on the event, Prof. Oramah, President and Chairman of the Board of Directors of Afreximbank said: “Africa is home to many globally accomplished sports men and women. There is still room to nurture more talent for the benefit of our economies. At Afreximbank, we are cognizant of the unlimited potential of this industry, that is why, we are aiding the CANEX initiative in actively supporting the sector through focussed interventions such as financing, talent management, capacity building, skills development commercialization and access to market and policy advocacy among others. We welcome this unique and potentially impactful collaboration with the CAF and Rebranding Africa Forum which complements and amplifies our effort allows the partners to make CAF events engine for trade and development on the continent.
He added: Through this new collaboration, we now look forward to stimulating the entire African creatives industry, and boosting demand for African made sports apparels.
Mr. Veron Mosengo-Obam, the Secretary General of Confédération Africaine de Football said: “We are honoured to be able to build this unique alliance with Rebranding Africa Forum and with African financial institutions so as to come up with strategies and bespoke financial instruments for the industry and the sport economy.”
Mr. Thierry Hot, the President of Rebranding Africa Forum said: “It is because football is a universal language, a powerful catalyser of change and an undeniable growth accelerator that we have entered in an alliance with CAF and Afreximbank to promote women’s football.”
ENDS
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance, facilitate and promote intra and extra-African trade. For over 30 years, the Bank has been deploying innovative instruments to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the AfCFTA, Afreximbank has in partnership with the African Union Commission and AFCFTA Secretariat launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the Free Trade Agreement. The AFCFTA Secretariat and the Bank have created a USD 10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA.
At the end of September 2023, Afreximbank’s total assets and guarantees stood at USD 31.5 billion, and its shareholder funds amounted to USD 5.85 billion. The Bank disbursed more than USD 100 billion between 2016 and 2023 through various interventions for the advancement of the continent. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”).
For more information, visit: www.afreximbank.com
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About the Confédération Africaine de Football (CAF):
The Confederation of African Football (CAF) is the association that brings together and represents Africa’s national football associations.
Founded in 1957, CAF’s role is to manage and develop football at continental level. It organises and administers the main continental competitions.
Based in Egypt and headed by Mr. Patrice Motsepe, CAF brings together 54 federations.
About Rebranding Africa Forum (RAF):
Founded in Brussels in 2014, the Rebranding Africa Forum aims to be a leading forum for thinking about the necessary transformations Africa needs to attract the partners it needs to meet the challenges of development.
A formidable melting pot of influence, in 9 years the Rebranding Africa Forum has become a leading and unmissable business event in the heart of Europe.