Lessons from the Pacquiao-Mayweather fight

By Dereck Tafuma 

Revenue from the Pacquiao-Mayweather boxing match was in excess of USD400 million. South Africa made just over USD500 million from its hosting of the Fifa World Cup. 

Las Vegas was an economic buzz last night with hotels fully booked and entertainment galore before and after the action. This is a clear example of how a sporting event can be a driver of economic activity. The media interest in the fight helped to raise expectations for a night which has been six years in the making. 

The Rumble In The Jungle between George Foreman and Muhammad Ali generated only USD10 million to be shared between the two. Mayweather and Pacquiao shared a staggering USD300 million in Floyd's favour. Besides the 2010 South Africa Fifa World Cup, African athletes are generating revenue outside the continent. The political instabilities and wars in Africa make economic activities difficult to carry out. We still rely on foreign aid to fund economic growth and development. 

Africa needs to do more to promote sport on the continent. We need to develop sporting facilities and events that promote economic activities. That means promoting democratic political systems to ensure peaceful environments where individuals can express their creativity in sports, business, entertainment to drive economic growth.