African Export-Import Bank (Afreximbank) has recently finalised a US$264 million global facility agreement with the New World Television (NWTV) network. This funding will be utilised to partially finance NWTV’s acquisition of media licensing rights for selected broadcasting sports copyrights from global media rights holders, enabling broadcast across Africa.
The facility agreement, inked on October 17, 2024, during the CANEX WKND 2024, encompasses broadcasting sports copyrights from notable entities such as FIFA, UEFA, CAF, French Ligue, and Spanish La Liga.
This initiative falls under Afreximbank’s CANEX Financing Programme, supporting the Sports Development Framework of its Creative Economy Strategy. The aim is to alleviate constraints to creative enterprise development and stimulate the intra- and extra-African export of innovative products. The facility is anticipated to bolster Africa’s sports value chain by placing the ownership of African sports content firmly within the continent.
The agreement was overseen by Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, and Mr. Louis Biyao, representative of the Chairman and Chief Executive Officer of NWTV.
Mrs. Awani highlighted the significance of the facility, emphasising its potential to empower African enterprises, particularly in the creative sector, while Mr. Biyao expressed NWTV’s gratitude for the support, envisioning new opportunities for the network to offer premium content to a larger audience.
This agreement represents a strategic shift towards empowering African entities to take control of sports broadcasts and celebrate local sports talent. It is expected to foster the development of the African television industry ecosystem and promote the diffusion of sports content in local languages.
The four-day CANEX WKND 2024, themed “One People, United in Culture, Creating for the World,” was a vibrant gathering attended by diverse delegates. It aimed to advance and expand Africa’s creative and cultural industries.
