President Obama Shoots His Shot With NBA Africa’s $1 Billion Valuation As A Strategic Partner
By Ericka Kamanou-Tenta
- Former President Barack Obama has become a strategic partner with NBA Africa
- The Basketball African League has already reached a $1B valuation
Former President Barack Obama’s ambition to further promote the NBA’s 12-team Basketball Africa League (BAL) has led him to join as a strategic partner. Launched in May of this year, NBA Africa has already reached a $1 billion valuation due to its luring of important players and investors. At this point it seems clear that the BAL will gain more in value by 2034, given the continent’s high consumer market potential expected to reach $2 trillion by 2025, and large working-age population.
Why This Matters: The game of Basketball is creating a powerful cooperation between people of African descent in America and those who are native to Africa. Well-known players such as Cameroon’s Joel Embiid and Pascal Siakam, as well as Sudan’s Bol Bol, are only some of the African stars in the NBA that add up to 13% of the entire international representation in the league. President Obama’s involvement with the league will heighten its social responsibility and help to shape economic opportunities.
“For me, Basketball has always been more than a sport, it shaped my life,” said former US President Obama as he joined NBA Africa as a strategic partner.
Other valuable stakeholders to this league include former NBA players such as Congolese-American Dikembe Mutombo, Grant Hill and Junior Brideman. Their involvement proves that a fun and entertaining game can also be used as a leverage to fight economic inequities. Business operations of NBA Africa will be similar to those of NBA China, which launched in 2008 and has an estimated valuation of more than $5 billion, according to Sports Business Daily.
There is hope in the future as the involvement of President Barack Obama will continue to raise awareness on the opportunity gaps and wasted talent that persists in African countries. If the love of Basketball can cultivate partnerships and social initiatives, this could improve the livelihoods of Africans.
Situational Awareness: One of NBA Africa’s notable players is American rapper, J. Cole, who is living his childhood dreams within Rwanda’s Patriots team. Although he is not a Rwandan national, Cole’s new Basketball career brings light to Hip-Hop on the African continent.
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