Among the key financiers of the recently concluded
The firm was founded by
The New Times'
Excerpts below
What drew your interest in BAL considering that it was the inaugural season with not much prelude?
While there was no specific experience in
What are your projections for BAL's growth in coming years?
First and foremost it needs to be a competitive league. It is not an attempt to further distribute NBA products but rather create a league itself. There are basketball leagues that exist in these countries. The relationship between those leagues and this league is something that is yet to be defined. The first step is to establish this league, there are 12 different countries which will lead a competitive framework to emerge.
I am a sports nerd, I am still active in various activities. I think sports investment is the perfect marriage with business opportunities. I do not collect art, I do not do other activities. This is what I love and these are serious business investments.
Given your experience in the sector, what do you think is needed for the BAL to reach its goal of being a top basketball league in the years to come?
When you look at sports investments, if your first 10 questions are not about media, media rights, media values and TV contracting, then you are not asking the right questions. Media value is what drives the value of sport.
The hallmark of a productive BAL would be a productive media presence for people to care about it, watch it and follow it. As the media profile develops, so will the league. And not only the African media, but the global media as people recognize the quality of athletes in the league.
It was an easy decision to be involved as NFE in sponsoring BAL. It is focused on the continent and the markets that we think are in need of our activities. Most of the continent is in need of power, clean and reliable power. It is a ripple place to do business. I often tell people not to characterize
As an investor, what's on your checklist when deciding on what markets to enter?
When you are building infrastructure, it takes everybody to say yes and one person to say no. The governments that have been most helpful to us in facilitating investment are the ones who have helped us get organized around all the regulatory framework that exists. Time is the enemy of investments, so things need to be done timely. I think I am a patient investor and a very impatient person within a meaningful time frame.
The governments that have done a good job in managing their own affairs and encouraging investment and cutting down bureaucracy. While we are compliant to regulations, what makes it difficult is the lack of clarity of what is required. Clarity is a prerequisite, it should be a real goal for governments.
What are your thoughts on
I think that
For an economy that is not rich in mineral resources, people have been the resources and there is an ambition for growth.
What are your thoughts and expectations of subsequent BAL tourneys?
Personally I learn by doing. What happened in the inaugural season could probably not have happened anywhere else in the continent taking into account the pandemic. We are lucky to have a relationship with
I am sure that it will evolve into something very productive.
I think the development of the competitive framework of the sport as young people get better is a big part of it. If you look at what the G-league in
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