The National Basketball Association (NBA) has announced the formation of NBA Africa, a new entity that will conduct the league’s business in Africa, including the Basketball Africa League (BAL) – a partnership between the NBA and the International Basketball Federation (FIBA) and the NBA’s first collaboration to operate a league outside of North America.

The strategic investors include a consortium led by Babatunde “Tunde” Folawiyo, chairman and CEO of Yinka Folawiyo Group; a...