ALGIERS, Algeria, October 22, 2024 -- African Export-Import Bank
(Afreximbank) (www.Afreximbank.com [4]) has announced the signing of a
EUR 245-million global facility with the New World Television (NWTV)
network. The funding will part finance the network’s acquisition of
media licensing rights for selected broadcasting sport copyrights from
global media rights holders to permit broadcast across Africa.

The facility agreement, signed on October 17, 2024, on the sidelines of
the just concluded CANEX WKND 2024, covers broadcasting sport copyrights
from the International Federation of Football Association (FIFA), Union
of European Football Associations (UEFA), Confederation Africaine de
Football (CAF), French Ligue and Spanish LaLiga.

Granted within Afreximbank’s CANEX Financing Programme, under the
Sports Development Framework of its Creative Economy Strategy which
seeks to mitigate constraints to creative enterprise development and to
stimulate intra- and extra-African export of creative products, the
facility is expected to support the development of Africa’s sports
value chain by placing the ownership of African sports content firmly in
African hands.

The deal signing was overseen by Mrs. Kanayo Awani, Executive Vice
President, Intra-African Trade and Export Development, Afreximbank and
Mr. Louis Biyao, representative of the Chairman and Chief Executive
Officer of NWTV.

Speaking on the facility, Mrs. Awani said: “The import of this
facility lies in the significant impact it will make in empowering
African enterprises, particularly in the creative sector, to assume
control of African sports. By taking control of these broadcasting
rights, we will see the fostering of local content production, creation
of job opportunities and strengthening of the continent’s competitive
edge in the global market while promoting cultural identity and economic
growth. Afreximbank is strongly committed to supporting African
enterprises driving progress in the creative sector and this transaction
is a testament to that commitment.”

On his part, Mr. Biyao commented: "It is a great honour for NWTV to
benefit from such support, which allows it to streamline its
transactions without the constraints related to currency exchanges. This
agreement opens new opportunities for NWTV, guided by the motto
'produced by Africans, for Africans in Africa,' to offer premium content
to a larger number of Africans. This is content that is accessible and
closely aligned with their reality, at a very affordable cost.”

He added: “NWTV aims to provide an innovative and accessible
alternative in the African audiovisual landscape, broadcasting
high-quality content in local languages, tailored to the expectations of
African populations. This approach is fully in line with NWTV's
commitment to bringing audiovisual content closer to every African
household."

The facility is expected to address the challenge of African sports
being largely controlled by non-African networks and broadcasting
houses, marking a strategic shift towards empowering African entities to
take control of the broadcasts, celebrate local sports talent and
showcase the richness of the continent's sporting culture.

It will also boost the development of the African television industry
ecosystem by growing revenue opportunities for television stations that
would now be able to add more content into their rotations and that
would be able to sell more advertisement spaces, in addition to enabling
NWTV to promote the diffusion of sports content in local languages.
NWTV, which is currently able to develop broadcast content in seven
local languages in 24 countries, is working on three additional
languages to be deployed in 2024.

The four-day CANEX WKND 2024, organised by Afreximbank was held from 16
- 19 October, under the theme “One People, United in Culture, Creating
for the World” and was attended by almost 4,000 delegates representing
a diversity of creative sectors from across Africa and the diaspora.

CANEX WKND 2024 featured live performances, speeches by industry leaders
and experts, masterclass sessions, sporting events, fashion shows, high
energy music concerts and gastronomical showcases alongside a vibrant
market and exhibition all aimed at advancing and expanding Africa’s
unrivalled creative and cultural industries, with the aim of
implementing pan-African measures that support the continent’s
cultural sectors.