Fund for Export Development in Africa (FEDA) announces strategic investment in Team Drogba, competing in the E1 Series

The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank), is pleased to announce a strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship. 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 commented: “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.”

About FEDA

The Fund for Export Development in Africa (“FEDA”) is the impact investment subsidiary of Afreximbank (www.afreximbank.com), set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa. FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks.

About Lilium Capital Group

Headquartered in the United States, Lilium Group LLC (“Lilium”) operates as an investment holding company with a distinct focus on African frontier markets. Lilium’s portfolio cut across diverse sectors, including financial services, mining, healthcare, technology, real estate, sports, FMCG among others.

About the E1 Series

The E1 Series is the world’s first electric boat racing championship, offering a unique blend of cutting-edge technology, environmental sustainability, and high-octane competition. The series showcases electric-powered boats racing in iconic waterfront cities around the globe, promoting innovations in marine transport and championing the cause of sustainability in ocean ecosystems. The series is dedicated to driving the transition towards clean energy and preserving marine biodiversity, positioning it as a beacon for the global blue economy.