Obama joins Helios-backed NBA Africa as strategic partner
In May, Helios Fairfax Partners led the formation investment round in a newly formed entity called NBA Africa, in partnership with the National Basketball Association (the NBA). The NBA announced recently that former US President Barack Obama is joining NBA Africa as a strategic partner.
Obama will help advance the league’s social responsibility efforts across the continent, including programmes and partnerships that support greater gender equality and economic inclusion. In this capacity, Obama will have a minority equity stake in the new venture, which over time he intends to use to fund Obama Foundation youth and leadership programmes across Africa.
NBA Africa conducts the league’s business in Africa, including the Basketball Africa League (BAL), which held its inaugural season in May featuring 12 of the top club teams from 12 African countries.
Strategic investors in NBA Africa include a consortium led by Babatunde “Tunde” Folawiyo, chairman and CEO of Yinka Folawiyo Group, and Helios Fairfax Partners Corporation (HFP), led by co-CEO Tope Lawani.
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