LONDON (XOL Africa) — African Collaborations Group has appointed Paulo Gomes, a former World Bank executive director for Africa and co-chair of the AfroChampions Initiative, to its advisory board as the group seeks to develop investment-ready sports and entertainment districts across the continent.
ACG said Monday that Gomes brings more than 30 years of experience in sovereign advisory, infrastructure finance and corporate investment across Africa.
Gomes is founder, chairman and CEO of Constelor Investment Holdings and founder and chairman of Orango Investment Corporation, which focuses on African investment and the implementation of the African Continental Free Trade Area.
He is also co-chair of the AfroChampions Initiative, a pan-African platform focused on Africa’s economic and industrial transformation.
Gomes served on the World Bank Group board from 1998 to 2006, initially as alternate executive director and later as executive director, representing 25 African countries. The group said he played a role in the creation of the Africa Finance Corporation and helped secure more than $1 billion for post-conflict recovery efforts in the Democratic Republic of Congo.
He was also a founding member of the Africa Finance Corporation and the Green Climate Fund and has advised African sovereign investment funds and businesses on investment and expansion strategies.
“Extending the AfroChampions logic into this domain is precisely why I am joining the ACG Advisory Board,” Gomes said.
He said sports and entertainment could become major economic sectors if developed through integrated investment and infrastructure models.
“Sport and entertainment are among the highest-yield sectors Africa has — but only if approached with the same industrial discipline we apply to energy, infrastructure or finance,” Gomes said.
“That means continental scale, integrated district ecosystems, bankable financial models, and African ownership at the core,” he added.
Nicolas Pompigne-Mognard, founder and executive chairman of ACG, said Gomes’ experience in African finance and institution-building would support the organization’s plans.
“Paulo Gomes is one of the most respected architects of modern African finance and continental strategy,” Pompigne-Mognard said.
He described Gomes’ experience at the World Bank, Africa Finance Corporation, Green Climate Fund and AfroChampions Initiative as particularly relevant to ACG’s effort to develop sports and entertainment projects within a broader industrialization strategy.
ACG said its advisory board will provide strategic guidance as the organization works with governments, development finance institutions, investors, sports organizations and infrastructure partners to develop mixed-use sports and entertainment districts.
The group said its model moves beyond individual stadium or venue projects toward broader districts combining sports, entertainment, commercial activities and other revenue-generating businesses.
According to ACG, analysis by the International Finance Corp. and Oliver Wyman estimates Africa’s sports economy could reach $20 billion by 2035, compared with about $12 billion currently.
The organization said Africa lacks sufficient integrated sports and entertainment ecosystems capable of supporting large-scale investment and development.
ACG said it aims to address that gap by developing projects from initial concepts through feasibility studies, financing and delivery, while bringing together public authorities, investors, developers, engineers, sports bodies, event promoters, broadcasters and local communities.
Gomes holds a master’s degree in public administration in economic policy and management from Harvard University’s John F. Kennedy School of Government and a bachelor’s degree in economics and international trade from Sciences Po and ILERI in Paris.
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