Investing in africa

At first glance, Sunderland's partnership with Invest in Africa is a noble one. But is all as it seems? Share this

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As the Premier League season got underway this past weekend some of you may have noticed for the first time (shame on you) that Sunderland have a new two-year shirt sponsorship deal with Invest in Africa. Founded by schoolteachers hoping to offer a vehicle to improve local lives (as well, I imagine, getting to play a lot of football) Sunderland are a club with a strong history of altruism and community spirit. If you combine that history with the Corporate Social Responsibility aspects of the deal and the increased name recognition that the deal with gain them on an increasingly wealthy and football mad continent, it is a marketing department’s wet dream. But as is all too often the case with European misadventures on the continent, all that glitters is not gold. Black gold, in this instance.
Invest in Africa’s founding partner is Tullow Oil, an Irish oil company listed in London with one of the finest oil exploration records in Africa. However, Tullow’s portrayal of themselves as a founding partner of IIA is alleged to have been somewhat wide of the mark. Claims on IIA’s website that there were several founding partners which turned out not to have been the case led to allegations that IIA is nothing more than a PR exercise for Tullow Oil. Perhaps more worryingly, questions have been posed over Tullow’s record in a number of countries in Africa. A report by economic justice campaigners, Platform, alleged that Tullow’s actions in the Congo would have cut oil revenues for the government there by $10m. Fishing communities in Ghana have complained that local business has been affected by exclusion zones around one of Tullow’s major rigs in the region. Also, Tullow has come under fire for failing to be fully transparent about its contracts with African governments. Tullow have countered saying that in some cases they are obliged to keep contracts private. However, campaigners argue that the opaque nature of extractive industry contracts can make it all too easy for corrupt governments to deny their citizens the services they should expect given the vast revenue streams created by such natural resources.
Now, none of this is to say that the idea behind IIA is not a noble one or that Tullow aren’t genuine in their hope to bring in more partners looking to invest in Africa. Parts of Africa need aid, of that there can be no doubt, but in order to move beyond aid there is a need for investment (investment that companies like Tullow provide and IIA champion), and Africa is more than ready for it. Africa’s projected GDP by 2020 is $2.6tr, its consumer spending $1.4tr, its working-age population by 2040 will be a staggering 1.1bn. It’s arguably the best investment opportunity on the planet, but it must be done responsibly.
The Sunderland/IIA deal is a canny one on Sunderland’s part and as the century progresses I’m sure we will see more partnerships between top English clubs and African businesses and initiatives (looking at the numbers, they’d be mad not to). However clubs need to be careful who they get into bed with. The passion for English football in Africa is difficult to put into words and while I can only speak for myself, if my team ended up sponsored by someone whose lack of transparency or collusion with a corrupt autocrat was meaning I couldn’t get healthcare (for example) I can’t imagine being too eager to get behind the team. In fact I’d be downright pissed off. If clubs are hoping to tap into Africa’s vast potential it’s important they do their homework first.

http://www.thefootballramble.com/blog/entry/investing-in-africa

Make of this what you will, personally just glad tHe money may keep rolling in big time, long time.

 

The murky world of commerce. Exploitative banks, insurance or finance companies or porn empire kings. At the end of everything their money is the same as anyone elses.

I think it was Paul Getty who said " The meek can have earth, I"ll take the mineral rights".

 

£20million a year.

Keeeeeerchiiiiiing.

That is all

 

Quite a lot of innuendo in that mate.

 

Like I said mate, make of it what you will, Me,,,,,,,,,,,,,,,,Get the Geldt in Marty.

 

I think it would now be easier to talk about who we are not linked to.

I am going start with Bobby Davro and Curley from Coronation Street.

Unless anyone has heard anything about these two ?

 

Whoops sorry wrong page

 

PMSL

 

So what we wont be the only club with dodgy dealings.

Abromovich - Now there's one right dodgy bastard and Chelsea seem to be doing just fine.

 

Or we could have someone who exploits slave labour children in his factories.

 

**** the moral high ground, we all want whats best for the club.

Simple.

 

I cant change the world, but maybe football might help. And if its our team, so be it, and would welcome it.

 

It's all bollocks Bill.

Would I prefer my gear to be made in a wonderful working environment, by well paid, highly trained workers. Probably

Would I then, be happy paying 3 times the price? Would I ****.

I'm not being a twat mate, but such is life, if the world collectively changes, wonderful, it won't.

 

Nah MON, too old in the tooth, to believe anything anymore, instead, all I believe in is what I have for now, as I said I cant change the world. But if I can make things a drop better for my folks, and people in general, then I will. But change the world,,,,,,,,,,,,,,,,,,,,,,,,,NAH NO ****IN CHANCE.

 

" If clubs are hoping to tap into Africa’s vast potential it’s important they do their homework first."
Can`t imagine that people of Byrne and Short`s calibre haven`t.

 

I think they're going to QPR mate although rumours are abound

 

This is very old reporting - I remember reading the exact same stories when we first announced the deal a couple of months ago. The fact this keeps coming up hints at an agenda by someone. Who knows why? Unfortunately, economics in Africa are largely based on bribery and corruption, and not much can be done by any single person or organisation to change that. I like to think that having SAFC as a partner will help to keep any dealings on the straight and narrow if at all possible.

What I do know is that the club have obviously recognised there is a vast untapped market in Africa. My daughter lives in Uganda and says is that many of her mates support Arsenal (not Man U surprisingly) so when they were watching the match last weekend, she was outraged at the number of people who said things like 'How did Arsenal not win, they should have beaten Sunderland, etc. etc.' So there is certainly potential to widen our global brand, which is part of the reason for our role in 'Invest in Africa' I guess.

 

Show me the large corporation/business/company that is whiter than white and without its critics and I'll show you a bankrupt business with no future and no money.

Whether you like or not, there isnt a capitalist company in the world that can provide profit, investment, success and genuine development without some 'issues' behind it and who are we here in the decadent West to deny Africa its chance to develop? There may be some casualties along the way wit any such venture but so long as its not abject misery and death that the company is delivering to the indigenous populations, then I dont have any sleepless nigths having Invest in Africa in our club.

I find it hard to imagine that with the likes of David Milliband on our books, with a politicians mind and global experience, we wont have done our homework beforehand on this organisation and its practices before we became involved with them.

Not one for us to become alarmed over at all imo.