Helios invests in NBA's African basketball business
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; and Helios Fairfax Partners Corporation (HFP), led by Tope Lawani, co-CEO of HFP and co-founder and managing partner of Helios Investment Partners, HFP’s investment advisor. The investors’ expertise in a wide range of industries and established relationships with African businesses, governments and NGOs will help accelerate the NBA’s growth across the continent. Lawani and Folawiyo will also join the NBA Africa board of directors.
The NBA has a decades-long history in Africa and opened its African headquarters in Johannesburg in 2010. Since then, the league’s efforts in Africa have focused on increasing access to basketball and the NBA through grassroots and elite development, media distribution, corporate partnerships, NBA Africa Games, the launch of the BAL, and more.
Folawiyo, who is Nigerian, is chairman and CEO of the Yinka Folawiyo Group, a diversified Nigerian industrial group focused on oil exploration and production, energy trading, shipping and real estate. He is also a former director and minority shareholder of MTN Nigeria, a telecommunications company, and the chairman of Coronation Merchant Bank.
HFP is a Canadian-based investment holding company focused on public and private investments in businesses that primarily operate in Africa. HFP was established in 2020 via a business combination between Fairfax Africa Holdings and the management company of Helios Investment Partners, Helios Holdings Limited. HFP’s co-CEO, Lawani, is a Nigerian businessman with more than 25 years of principal investment experience.
Helios Fairfax Partners co-CEO, Tope Lawani, commented: “Throughout Helios’ history, we have bridged international capital and expertise to African talent and enterprise, and this is a unique opportunity for us to do so in the world of sport by partnering with the NBA, a truly best-in-class operator. As a committed and experienced partner for businesses operating across Africa, we look forward to contributing our expertise, connectivity and market knowledge to support NBA Africa’s growth throughout the continent.”
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