The African Export-Import Bank (Afreximbank) and New World Télévision (NWTV) Togo signed a financing facility worth 245 million euros, or around 160 billion FCFA, on October 19, 2024 in Algiers on the sidelines of the CANEX WKND 2024. For the pan-African institution, the aim is to support African players in the audiovisual sector to regain control of local sport, while showcasing the continent’s rich sporting culture.
In a press release issued on October 22, 2024, the African Export-Import Bank (Afreximbank) announced the granting of a financing facility of 245 million euros or around $264 million to Togolese private broadcaster New World Television (NWTV), which will be used in part to finance the acquisition of broadcasting rights in Africa for several international and African sporting events.
Since we established The Creative Africa Nexus in 2019. People often ask me why is our trade and finance institution being so heavily invested in the development of the creative and cultural sector? This is a sector that is not often associated with the global rhetoric of economic development and one that one that has not traditionally featured in national or regional economic planning.
Kanayo Awani, Executive Vice-President, Afreximbank
The funding is expected to address the issue of control of African sport by non-African broadcasters and channels, marking a significant change for African entities. The aim is to celebrate local sporting talent and showcase the continent’s rich sporting culture.
This support opens up new opportunities to offer quality content to a greater number of Africans. It’s content that’s accessible and closely linked to their reality, at a very affordable cost.
Louis Biyao, Representing the Chairman and CEO of NWTV
Granted under Afreximbank’s Creative Africa Nexus (CANEX) program, which supports the continent’s creative and cultural industries, the facility covers sports broadcasting rights from the Fédération Internationale de Football Association (FIFA), the Union of European Football Associations (UEFA), the Confédération Africaine de Football (CAF), the French Ligue and the Spanish Liga
