Sports
FEDA Invest in Team Drogba’s Electric Boat Racing Sport
The Fund for Export Development in Africa (FEDA) a subsidiary of African Export-Import Bank (Afreximbank) has made a strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship.
In a statement announcing the investment, Afreximbank said : ” This investment aligns with Afreximbank’s Creative Africa Nexus (CANEX) strategy, which includes sports as a key vertical for advancing Africa’s economic and cultural footprint.”
Co-owned by African football icon, Didier Drogba and Lilium Capital Group, Team Drogba’s participation in the E1 series will not only raise Africa’s profile on the global sporting stage but also support the growth of Africa’s blue economy.
The Team’s participation in the competition will help highlight sustainability and marine ecosystem restoration and general environmental awareness.
Through this collaboration, FEDA and Team Drogba aim to inspire innovation and sustainability in Africa’s sports industry, fostering economic growth and development across the continent.
The partnership reflects FEDA’s commitment to empowering African athletes, promoting technological advancements, and supporting climate adaptation solutions, all while contributing to Africa’s global competitiveness.
Prof. Benedict Oramah, President and Chairman of Board of Directors, Afreximbank noted: “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.”
Speaking for Team Drogba, legendary football player Didier Drogba said : “This collaboration with FEDA and Afreximbank ushers in an exciting chapter for African sports and sustainability efforts.
The E1 Series is an opportunity to merge our collective dedication to sport with a commitment to the environment and African progress. Together, we are setting a foundation 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 emphasizes 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.”
Sports
Ex-Super Eagles Coach, Oliseh Gets IFAB Appointment
Oliseh confirmed this appointment via his official X account on Monday.
Former Super Eagles coach, Sunday Oliseh, has landed a new role with the International Football Association Board, IFAB.
IFAB is the global guardian of football’s laws, responsible for determining the laws of football, shaping the beautiful game for players and fans worldwide.
Oliseh confirmed this appointment via his official X account on Monday.
He wrote: “Thrilled to announce my appointment to the International Football Association Board (IFAB)!
“Honored to contribute to its mission!”Oliseh’s appointment to the IFAB board will see the former Dortmund and Juventus midfielder work with some of football’s most influential figures, including legendary Arsenal boss, Arsène Wenger.
Sports
Future National Sports Festival to hold November/ December – Dikko
He added that the Commission, in line with the President’s directive, is working to transform sports into a key economic driver.
The Chairman of the National Sports Commission (NSC), Mallam Shehu Dikko, says that the Commission is developing a national calendar that will set November and December as the fixed months for hosting the festival.
Dikko disclosed this during a World Media Chat held at the Local Organizing Committee Secretariat, yesterday.
He commended Ogun State for its outstanding hosting of the ongoing National Sports Festival, describing it as a game-changer for sports development in Nigeria.
He called on other states aspiring to host future editions to emulate and improve on the standard set by Ogun.
Dikko noted that the entire country is taking note of the impressive organization and swift handling of challenges during the festival.
“This festival is a major improvement from previous editions.
“It is normal to experience hitches in events of this magnitude, but the prompt resolution of those issues shows great commitment. This edition will serve as a benchmark for future games.”Dikko emphasized.
He added that the Commission, in line with the President’s directive, is working to transform sports into a key economic driver.
“We are building a sports economy—beyond the games, we are looking at job creation, the value chain, and revenue generation.
Ogun’s example is now motivating other states to step forward and host,” he explained.
Sports
Saudi Arabia to lift 73-year-old alcohol ban ahead of FIFA World Cup 2034
Around 600 such licensed venues across the country are expected to be permitted to serve alcohol under the new guidelines.
The kingdom of Saudi Arabia is preparing to partially lift its 73-year-old ban on alcohol sales in 2026.
The change comes as part of broader efforts to align with global expectations ahead of hosting major international events like Expo 2030 and the FIFA World Cup 2034.
The Economic Times, reported that alcohol will be available in a strictly controlled manner, limited to select zones such as luxury hotels, high-end resorts, and designated tourist destinations.
Around 600 such licensed venues across the country are expected to be permitted to serve alcohol under the new guidelines.
However, there will be clear limitations. Only milder forms of alcohol – beer, wine, and cider will be allowed.
Spirits and hard liquors will remain prohibited. Importantly, alcohol consumption will not be permitted in homes, shops, or general public areas.
Saudi Arabia and Kuwait are the only Gulf countries that prohibit the sale of alcohol.
A minor move to allow alcoholic drinks to be consumed in the kingdom was the opening of the first alcohol store in the capital, Riyadh, last year serving exclusively non-Muslim diplomats.
Prior to that, alcohol was available only through diplomatic mail or on the black market.
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