BK acquires Kigali Arena naming rights for $7mn
BK Group Plc has acquired the naming rights of Kigali Arena for $7 million over the next six years. This is the largest deal of its kind in Rwanda, and the Group will be putting its name on the most expensive sports facility in Rwanda. Nathalie Mpaka, CFO at BK Group joins CNBC Africa for more.
Wed, 25 May 2022 14:31:14 GMT
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AI Generated Summary
- The $7 million naming rights deal for the Kigali Arena is the largest of its kind in Rwanda and marks a significant strategic move by BK Group to enhance its brand visibility and market presence in the country's sports industry.
- By securing exclusive branding opportunities at the Kigali Arena, BK Group aims to attract new customers and promote its financial services and technologies, including innovative payment solutions, insurance products, and banking services.
- The partnership also includes the introduction of a prepaid card, designed to appeal to a younger demographic interested in mobile financial services, enabling them to access discounts and benefits at the arena while establishing long-term brand association with BK Group.
BK Group PLC has made a significant move in the Rwandan sports industry by acquiring the naming rights for the Kigali Arena in a deal worth $7 million over the next six years. This groundbreaking agreement represents the largest of its kind in Rwanda and positions BK Group as a major player in the country's sports and entertainment landscape. The announcement was made by Nathalie Mpaka, CFO at BK Group, during a recent interview on CNBC Africa. Through this partnership, BK Group aims to leverage the iconic status of the Kigali Arena to enhance its brand visibility, attract new customers, and promote its range of financial services and technologies. In addition to gaining exclusive branding opportunities, the Group plans to introduce innovative payment solutions, insurance products, and banking services to cater to a younger demographic, tapping into the growing market for mobile financial services. The strategic investment in the naming rights of the Kigali Arena underscores BK Group's commitment to expanding its market presence and engaging with diverse customer segments. By aligning its brand with a premier sports facility, BK Group seeks to strengthen its position as a leading financial services provider in Rwanda and enhance its engagement with the local community. The naming rights deal not only represents a significant marketing opportunity but also a long-term investment in driving business growth and fostering brand loyalty. With a focus on innovation and customer-centric solutions, BK Group is poised to capitalize on this strategic partnership to consolidate its market position and drive sustainable growth in the Rwandan market.
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