Innocent Kurira [email protected]
GOVERNMENT wants Zimbabwe to find ways of turning the booming sports betting industry into a direct source of funding for grassroots sport and athlete development.
Speaking at the Kuzana Sport and Creative Economy Expo in Bulawayo, Permanent Secretary in the Ministry of Sport, Recreation, Arts and Culture Nicholas Moyo said the betting industry should not be viewed solely as a consumer activity.
“Rather than treating the booming sports betting industry as strictly consumer activity, we must leverage regulatory policies to channel revenue from the billion-dollar industry directly into grassroots infrastructure and national development for athletes in order to achieve meaningful pathways,” said Moyo.
Moyo also called for structures that would protect athletes’ wealth and ensure they derive lasting value from their careers.
“We need structures that protect players’ wealth. Formalise intellectual property and transform temporary earnings into permanent financial assets,” he said.
His remarks fit into the wider business focus of the inaugural Kuzana Sport and Creative Economy Expo, which is seeking to explore how sport can generate investment, employment and sustainable economic value.
The expo has brought together stakeholders from sport, business and the creative sector to examine opportunities in areas including sponsorship, broadcasting, sports tourism, merchandising and intellectual property.
The event runs until October 11.
