Formula 1 confirmed Rwanda will stage the African Grand Prix for a decade once a new purpose-built course in Bugesera is ready. The layout is planned at 6 kilometers, or 3.7 miles, and completion is targeted for early in the next decade, pointing to a first race in the early 2030s.
Rwanda's president, Paul Kagame, said, "The circuit in Bugesera, alongside the new international airport, will bring jobs, skills, tourism and new business to our country and our region for decades to come." The move builds on a yearslong push to back global sports partnerships, including high-profile tie-ups with Arsenal FC and Paris Saint-Germain, and aims to brand Rwanda as an upscale destination for commerce and travel.
Hosting rights are long-dated bets on tourism and infrastructure. Market Briefs covers the business of sport free every weekday.
The deal brings F1 back to the continent for the first time in almost four decades since the previous Grand Prix was held. The previous race in Africa took place in 1993 at Kyalami Raceway, north of Johannesburg in South Africa, where Alain Prost took the win.
Liberty Media Corp., which holds F1's commercial rights, has prioritized an expansion into Africa to lock in a truly global championship calendar. As F1 President and CEO Stefano Domenicali put it, "With Rwanda joining the calendar from the next decade, our sport will race in every inhabited continent, bringing the World Championship closer than ever to fans around the globe." He added, "Africa is home to more than 100 million Formula 1 fans, and that number continues to grow rapidly." If you follow the business of sports, this long-term stop in Rwanda is a clear marker of where F1 wants to go next.
A decade-long deal reshapes a country's investment plans. Join Market Briefs free and follow it.
