Former US President Obama Purchases Minority Stake in NBA Africa

Former U.S. president Barack Obama has purchased a minority share of NBA Africa, the National Basketball Association announced Tuesday.

NBA Africa was established this year to oversee the league’s business activities on the continent. The NBA said in a statement that Obama is a strategic partner and would use any profits from the new entity to “fund Obama Foundation youth and leadership programs across Africa.” NBA Africa was created in May as a partnership between the NBA and the International Basketball Federation. The Basketball Africa League, the continent’s first professional basketball league featuring top teams from 12 countries, is part of the entity.