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TheThe National Basketball Association has appointed a major investment banker to develop the sport and its businesses on the African continent.
Victor Williams, who for the past five years has led corporate and investment banking atStandard Bank Group – Africa’s largest bank by assets – will become the NBA’s new CEO for Africa starting August 17. Williams will be based in Johannesburg, according to a company statement on Monday.
“In this newly created role, Williams will oversee the league’s basketball and business development initiatives in Africa,” the statement read. It is expected to “increase the popularity of basketball and the NBA across the continent through grassroots development, media distribution, corporate partnerships and more.”
The event deepens the African involvement of the NBA, which last year formed a regional professional league, in collaboration with the International Basketball Federation based in Switzerland. The start of March of the inaugural Basketball Africa League season, which featured 12 African club teams, was delayed due to the coronavirus pandemic.
“Economic engine”
The project marked his first involvement in a league outside of North America, the NBA said at the time. Commissioner David Silver described Africa as a “huge economic engine”, stating the partners, likePepsiCo Inc. eNike Inc. had shown interest in working with the regional league.
Williams, a dual citizen of Sierra Leone and the United States, worked atGoldman Sachs Group Inc. eWells Fargo & Co. before joining Standard Bank in 2011.
Becoming CEO of Africa of the NBA will allow me “to combine my professional experience building businesses in Africa with my passion for the sport of basketball,” Williams said in the statement.
– With the assistance of Brandon Kochkodin
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