The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank), has announced a strategic investment in Team Drogba, a competitor in the first-ever E1 Series, an all-electric boat racing championship. This investment aligns with Afreximbank’s Creative Africa Nexus (CANEX) strategy, which recognises sports as a key pillar for advancing Africa’s economic and cultural influence.
Team Drogba, co-owned by African football legend Didier Drogba and Lilium Capital Group, is set to elevate Africa’s presence on the global sports stage through its participation in the E1 Series. The team’s involvement will also promote Africa’s blue economy by spotlighting sustainability, marine ecosystem restoration, and broader environmental awareness.
This collaboration between FEDA and Team Drogba aims to drive innovation and sustainability within Africa’s sports industry, fostering economic development across the continent. The partnership underscores FEDA’s commitment to empowering African athletes, advancing technological innovation, and supporting climate adaptation efforts, thereby enhancing Africa’s global competitiveness.
Prof. Benedict Oramah, President and Chairman of the Board of Directors at Afreximbank, emphasised the significance of the investment: “FEDA’s investment in Team Drogba highlights the transformative power of Africa’s creative sectors. By aligning this initiative with our CANEX strategy, we are driving forward our vision for Africa’s future, one that leverages sports to not only showcase talent but also stimulate economic transformation.”
Didier Drogba expressed his enthusiasm for the collaboration: “This partnership with FEDA and Afreximbank marks an exciting new chapter for African sports and sustainability efforts. The E1 Series provides a unique platform to merge our passion for sport with a commitment to environmental stewardship and African progress. Together, we are laying the groundwork for innovative and sustainable growth that will inspire change across the continent.”
Simon Tiemtoré, President of Lilium Capital Group, added: “We are thrilled to be part of this pioneering venture. Team Drogba’s participation in the E1 Series not only showcases African excellence on the world stage but also underscores the importance of sustainability and innovation. At Lilium Capital Group, we are deeply committed to initiatives that drive both economic growth and environmental stewardship. This collaboration with FEDA underscores our shared vision for a future where Africa leads in both sports and sustainable development.”
About FEDA
The Fund for Export Development in Africa (FEDA) is the impact investment subsidiary of Afreximbank, established to provide equity, quasi-equity, and debt capital to address the multi-billion-dollar funding gap needed to transform the trade sector in Africa. FEDA’s multi-sector investment strategy spans intra-African trade, value-added export development, and manufacturing value chains, including financial services, technology, consumer goods, transport, agribusiness, and trade-enabling infrastructure like industrial parks.
About Lilium Capital Group
Lilium Capital Group, based in the United States, operates as an investment holding company with a particular focus on African frontier markets. Lilium’s diverse portfolio spans sectors such as financial services, mining, healthcare, technology, real estate, sports, and FMCG.
About the E1 Series
The E1 Series is the world’s first electric boat racing championship, combining cutting-edge technology, environmental sustainability, and high-speed competition. The series features electric-powered boats racing in iconic waterfront cities globally, promoting innovations in marine transport and advocating for sustainability in ocean ecosystems. The E1 Series is dedicated to advancing clean energy and preserving marine biodiversity, positioning it as a leader in the global blue economy.
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Source: Afreximbank
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