Herbert Mensah, the president of Rugby Africa, has urged investors and development partners to invest in African sport, with the promise of strong returns on their investments. The president of rugby’s governing body in Africa was talking during a session on “Sports as a Business Catalyst” as part of the Africa Investment Forum 2023, held from 8 to 10 November in Marrakech, Morocco.
Mr Mensah also called for a change of attitude towards sport in Africa, citing the Springboks – the current double world champion South African team – as proof, if any were needed, of the excellent level achieved by the continent’s athletes.
Sport is a fast-growing sector in Africa, with enormous potential for job creation, promoting health and well-being, and encouraging social inclusion. According to PwC, the sector was worth USD 7 billion in 2018, a figure that should reach USD 12 billion by 2027.
The president of Rugby Africa emphasized the educational value of sport for children, as well as being a sector with strong commercial potential. “Sport is entertainment, but it’s also business! People with capital need to be aware of that,” he said.
In this respect, the continent offers a number of comparative advantages, including the youth of its population – the youngest in the world – and the talent of its athletes, of which Africa offers an inexhaustible pool. It is important to take advantage of Africa’s demographic dynamism, added Mr Mensah, since Africans will soon represent a third or more of the global population.
Turning to the various advantages of sport, he also highlighted the benefits associated with the social and environmental responsibility of businesses that invest in sporting events. As an example, he spoke of the Junior Olympic Games in Senegal, the development of cycling in Rwanda and other world-level sporting events across the continent.
“Investing in sporting events in Africa is important because there is talent and money to earn. Children in most African countries play rugby in playgrounds. When are we going to build stadiums, because there’s money to be earned?” he asked.
Questions emerged on the models, obstacles and strategies for investing in sport. Who should be involved? Investments in sport generate other investments to strengthen economic development in a positive way. Huge investments in sport have been made in Europe and the United States. “Africans need to do the same thing... Even in India, you have a model with cricket,” maintained Mr Mensah.
He also pointed to a number of changes that are needed, including establishing a favourable legislative framework, supporting more investments, opening doors and offering investment opportunities, working with development agencies, being proud of being African and believing in Africa’s leadership in sport. “It’s a good time to invest!” he commented enthusiastically.
The president of Rugby Africa also discussed the opportunities offered by the nutritional products for the athletics sector, many of which exist only in Africa and could be commercially exploited by the pharmaceutical industry.
“Sport is an area that provides a good return on investment and Africa is the best place to invest,” Mr Mensah concluded. “Invest now and you’ll reap the rewards tomorrow.”
