Barack Obama Buys Stake In NBA Africa

Category: Business News

Basketball loving former U.S. President Barack Obama has joined NBA Africa as a strategic partner and a minority stakeholder.

His aim is to help advance social responsibility efforts across the continent, the National Basketball Association said on Tuesday.

Obama will have a minority equity stake in the new venture, which over time he intends to use to fund Obama Foundation youth and leadership programs across Africa.

By investing in communities, promoting gender equality, and cultivating the love of the game of basketball, I believe that NBA Africa can make a difference for so many of Africa’s young people,” Obama said in a news release.

“I’ve been impressed by the league’s commitment to Africa, including the leadership shown by so many African players who want to give back to their own countries and communities.

“That’s why I’m proud to join the team at NBA Africa and look forward to a partnership that benefits the youth of so many countries.”

A record-tying 14 African players were on 2020-21 opening-night NBA rosters, including some of the best players in the game like four-time All-Star Joel Embiid, who has been actively involved in growing the game and the league’s efforts in Africa.