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IFC and Proparco back Helios to drive job growth in Africa’s sport sector and creative industries

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Africa
Signature Proparco Hélios IFC
Signing ceremony with IFC, Helios, Proparco - DR

In a significant move to accelerate job creation and enhance the competitive sports and entertainment sector in Africa, IFC, a member of the World Bank Group, and Proparco, a subsidiary of the Agence Française de Développement Group (AFD Group), today announced an equity investment of up to $50 million in Helios Sports and Entertainment (“HSEG”), an investment vehicle dedicated to sport, media and entertainment across Africa.

The investment is part of a broader effort by IFC and Proparco to strengthen Africa’s creative industries sector, one of the most promising for expanding private sector-led job creation and economic opportunities.  The financing will target key segments including sports intellectual property rights, event management, infrastructure development, retail, and hospitality. HSEG’s mission is to develop a more dynamic sport and entertainment ecosystem in the region, working with its four partners: NBA Africa, The Malachite Group (Afro Nation), PFL Africa, and Zaria Group.

Africa’s sports economy is projected to reach $20 billion by 2035 . From a modest growth of 2.8 percent in 2023, the market is expected to more than double by 2028, making it one of the top three regions in the world, according to PwC’s Global Sports Survey . At the same time, a growing youth population and rising demand for diverse sports and entertainment content are creating favourable conditions for long-term industry development in the region. 

However, at present, Africa’s sport and entertainment sector remains largely underfunded, with limited investment in infrastructure, talent development, and intellectual property. This funding gap also restricts employment opportunities, especially for young people, in areas such as event production, broadcasting, digital content, and marketing.  

IFC led this funding round with up to $30 million in equity investment from its own account, while Proparco has committed up to $20 million as part of the same financing. Through this partnership, IFC, Proparco, and Helios are combining capital, expertise, and regional networks to scale commercially viable models that will also foster capacity building and upskilling in the African sport and entertainment industry.

The sports, entertainment, and creative sectors are scalable industries that should be approached with effective financial tools and a genuine business mindset. This is the message we want to send, as equity investors. We are proud to anchor this investment and to signal to other investors that the sector is ready for long-term, strategic capital.

Makhtar Diop

  • IFC Managing Director

As part of its broader strategy to support local actors, Proparco is committed to supporting Africa’s cultural and creative industries through initiatives such as the CREA Fund (Creative Enterprise Action Fund), which aims to boost investment and capacity building in these enterprises.

Investing in Africa’s sports and entertainment sector is not only about supporting creativity and talent, but it’s also about unlocking economic opportunities and jobs for a generation of young Africans. Through this partnership with IFC and Helios, we aim to catalyse sustainable growth in a sector full of potential.

Françoise Lombard

  • Chief Executive Officer, Proparco

It is a privilege to receive support from reputable institutions, such as the IFC and Proparco, showing true conviction in both the African creative economy and our ability to deliver as a platform. At Helios Sports and Entertainment Group, we are constantly presented with attractive opportunities driven by Africa’s richness of talent and increasingly sought-after content. We are excited to capitalize on HSEG's unique market position to create economic value and genuine impact.

Tope Lawani

  • Managing Partner at Helios Sports and Entertainment Group

Over the past two years, IFC has deployed over $800 million through its own account and private capital mobilization to strengthen the development of creative sectors across emerging markets.