In recent years, the African continent has been experiencing remarkable development and transformation in both technology and sports. As a result, there is a notable rise in sports technology startups. While entrepreneurs are investing in this sector, African countries are making progress in sports each year.
When we evaluate technological investments separately, we can see that these investments have continued to grow annually. Five years ago, investments were organized with a total capital of $2 billion, and in recent years, this figure has exceeded $5 billion. Although the total amount is not precisely known today, the African technology industry has reached the pinnacle of its long-standing development.
Last year, the NBA announced that it would launch business operations in Africa, supporting local governments through new partnerships, media, and content development in the sports sector. This development is expected to make basketball the most-watched sport in Africa. A CNBC report states that the value of these investments could rise to $1 billion, with investors such as Forest Whittaker, Barack Obama, Joakim Noah, and Luol Deng contributing to this process.
While these figures are promising, it is essential to pay attention to two main risk factors regarding the sustainability of the process. The first is that Africa is not a single entity but comprises many governments. This indicates that investment processes may take longer compared to countries like China or India. The second point is that many segments in Africa lack the economic power to afford the cost of products.
