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. details ⇒

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