KIGALI — In a major move to transform Africa’s athletic and cultural landscape into a formidable economic engine, the International Finance Corporation (IFC) has announced a landmark partnership with the Zaria Group.
Revealed by IFC Managing Director Makhtar Diop during the 2026 Africa CEO Forum (#ACF26) in Kigali, the collaboration aims to build a multi-country platform dedicated to developing state-of-the-art sports and entertainment districts across the continent.
The Zaria Group is spearheaded by Masai Ujiri, the renowned sports executive and co-founder of Giants of Africa, an organization that has spent decades empowering African youth through basketball.
A Slam Dunk for African Infrastructure
For years, Africa has been a primary exporter of world-class athletic talent, yet it has often lacked the domestic infrastructure to monetize and retain the value of its sports and entertainment sectors. This new partnership backed by the World Bank Group seeks to change that narrative.
Taking to social media to celebrate the announcement, Diop emphasized that the initiative is about far more than just games:
“Sport is not only culture — it is also business, infrastructure, jobs, tourism, and opportunity. With greater private sector investment and professionalization, Africa can capture far more value from its sports and entertainment industries.“
The proposed multi-country platform is expected to drive holistic urban development, creating hubs that will feature:
Modern Arenas and Stadiums:
- Built to host international tournaments, concerts, and major cultural events.
- Commercial Ecosystems: Integrating retail, hospitality, and real estate to boost local tourism.
- Job Creation: Generating thousands of direct and indirect jobs in construction, facility management, sports medicine, and event production.
The Power of Professionalization
Diop, who proudly refers to himself as a “Son of Africa,” highlighted that unlocking this sector requires serious, scaled investment. The partnership with Zaria Group perfectly aligns with the Africa CEO Forum’s overarching theme of “Scale or Fail.”
By treating sports as a critical infrastructure class rather than just a cultural pastime, the IFC and Zaria Group are laying the groundwork for a fully professionalized sports economy. This shift will allow African nations to host global events, build sustainable domestic leagues, and create a lucrative ecosystem that benefits local economies rather than foreign franchises.
As the World Bank Group throws its institutional weight behind this vision, the partnership signals to global investors that Africa’s sports and entertainment industry is open for serious business.
