IFC and Proparco Invest $50M in Helios to Boost Africa’s Creative Economy

In a landmark investment aimed at unlocking the untapped potential of Africa’s creative and sports industries, the International Finance Corporation (IFC) and Proparco, a subsidiary of the French Development Agency (AFD Group), have announced a joint equity investment of up to $50 million in Helios Sports and Entertainment Group (HSEG).

This strategic funding will empower HSEG to scale its operations across Africa and catalyze growth in key sectors including sports rights, event management, infrastructure, retail, and hospitality. The move reflects growing confidence in the creative economy as a powerful driver of job creation, entrepreneurship, and youth empowerment across the continent.

A Growing Sector with Transformational Potential

Africa’s sports and entertainment economy is one of the fastest-emerging sectors globally. According to PwC’s Global Sports Survey, the continent’s market was valued at $6.3 billion in 2023, with annual growth projected to more than double by 2028. By 2035, the industry is forecasted to reach $20 billion, ranking Africa among the world’s top three regions for sports industry expansion.

The region’s large and youthful population, coupled with rising digital connectivity and demand for localized content, has laid the groundwork for long-term, sustainable industry growth. Yet, despite this potential, Africa’s sports and entertainment sectors remain severely underfunded, with critical gaps in infrastructure, talent development, intellectual property ownership, and media production capacity.

A Unique Investment Platform

Helios Sports and Entertainment Group (HSEG) is the first pan-African investment vehicle exclusively dedicated to the continent’s sports and entertainment ecosystem. It is backed by four strategic partners:

• NBA Africa – Promoting basketball development and youth sports initiatives

• The Malachite Group (Afro Nation) – Organizers of Africa’s leading music festivals

• PFL Africa – A regional arm of the Professional Fighters League

• Zaria Group – Focused on content production and creative media platforms

HSEG aims to build commercially viable businesses across the value chain while fostering local ownership, upskilling youth, and formalizing fragmented sub-sectors.

IFC and Proparco’s Investment Strategy

Of the total investment, IFC is committing up to $30 million in equity from its own account, while Proparco is contributing up to $20 million, reinforcing its ongoing support for Africa’s creative industries. Together, they are not only injecting capital but also offering technical expertise, policy support, and regional business networks to bolster the viability and sustainability of HSEG’s projects.

Makhtar Diop, Managing Director of IFC, stated: “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.”

This investment is part of IFC’s broader global strategy, which has seen over $800 million deployed in creative sectors across emerging markets over the last two years. The funding has supported a wide range of activities from film and music production to esports infrastructure.

Françoise Lombard, CEO of Proparco, added: “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.”

Proparco's involvement aligns with its CREA Fund (Creative Enterprise Action Fund), an initiative designed to stimulate private investment in culture, arts, and content production in low- and middle-income countries.

Local Impact and Regional Reach

Helios will use the capital injection to:

• Acquire and monetize sports intellectual property rights

• Build and upgrade venues and infrastructure

• Support local event production and festival management

• Develop content distribution platforms

• Create jobs and training pathways in media, marketing, and performance arts

Tope Lawani, Managing Partner of HSEG, expressed enthusiasm: “It is a privilege to receive support from reputable institutions like IFC and Proparco. At HSEG, 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.”

A Vision for Inclusive Growth

Africa’s creative economy represents one of the most inclusive, job-rich growth paths for the continent’s future. As traditional employment sectors struggle to keep pace with population growth, especially among urban youth, investments like this serve a dual purpose—economic development and social stability.

By backing local talent, nurturing intellectual property, and building modern infrastructure, the partnership between IFC, Proparco, and HSEG could become a blueprint for how creative industries can drive pan-African prosperity.