Silverbacks Holdings, a Mauritius-based private investment firm, has recently made a strategic investment in African Warriors Fighting Championship (AWFC), Nigeria’s largest Dambe (traditional boxing) promoter. Announced at the inaugural New Africa Summit within the Future Investment Initiative in Riyadh, this partnership marks a significant milestone for Silverbacks as it seeks to support African sports and entertainment industries, which hold untapped potential for global engagement.
Boosting Traditional African Combat Sports
By joining forces with AWFC, Silverbacks Holdings aims to elevate African combat sports and promote Dambe—a centuries-old martial art deeply rooted in Nigerian culture. Silverbacks’ investment secures a minority stake in AWFC, alongside a board position, empowering the firm to play an active role in the company’s strategic direction. The funding is expected to fuel AWFC’s expansion of live events and media content, contributing to the platform’s ambition to become Africa’s largest combat sports network.
AWFC’s Expanding Reach and Revenue Streams
Since its founding, AWFC has capitalized on a diversified business model that includes revenue from live events, media rights, talent management, and a forthcoming digital platform, AWFC TV. This model has attracted high-profile sponsors, including a recent partnership with Stake, a global crypto-betting company and an official sponsor of UFC. Through Stake, AWFC gained further credibility and a financial boost, helping the company expand its outreach in Africa and beyond.
The growth in AWFC’s visibility reflects rising interest in African combat sports on an international scale. Notably, the platform has garnered over 500 million views and established a substantial following on social media, with a fan base not only in Nigeria but also in countries like the United States and Brazil. With media coverage in outlets like BBC, CNN, and Vice News, AWFC is positioned as a major player in the world of combat sports, giving Dambe and other African fighting styles a global platform.
Strategic Goals and Future Plans
Silverbacks’ Executive Chairman, Ibrahim Sagna, views this investment as a natural fit with the firm’s mission to expand the African sports and cultural sector. Sagna expressed excitement about collaborating with Maxwell Kalu, AWFC’s founder, to grow the company’s influence across Nigeria and into new markets, including Senegal, where traditional combat sports like Laamb are immensely popular. Sagna envisions AWFC becoming a unifying force across African nations, fostering shared cultural appreciation for traditional sports while appealing to global audiences.
For AWFC, this partnership with Silverbacks represents an exciting phase in its growth journey. Maxwell Kalu, CEO of AWFC, noted that the support from Silverbacks affirms the impact of Dambe on the international combat sports scene. With approximately 550 million global combat sports enthusiasts, Kalu sees a unique opportunity to introduce African martial arts to a broad and receptive audience.
Silverbacks Holdings’ Broader Investment Strategy
Silverbacks Holdings was established in 2019 with a focus on high-potential sectors in Africa, including sports, entertainment, and the creative economy. This latest move with AWFC is Silverbacks’ third venture in the sports domain, following investments in NERGii, a South African sports innovation company, and Cape Town Tigers, a successful Basketball Africa League (BAL) team. The firm’s portfolio spans over 240 companies with a combined valuation exceeding $10 billion, underscoring its commitment to catalyzing growth across African markets.
The investment in AWFC aligns with Silverbacks’ strategy to support Africa-related businesses with substantial cultural and economic impact. Silverbacks not only provides financial backing but also offers operational support to help portfolio companies achieve market leadership, increase liquidity, and advance corporate maturity. The firm’s approach is to strengthen local employment opportunities, especially for young Africans, while prioritizing gender inclusivity.
The Future of African Combat Sports
Silverbacks’ backing of AWFC highlights the untapped potential within African traditional sports, signaling a shift in how African cultural assets are leveraged for global audiences. As the company ramps up its live events and digital presence, AWFC is set to create new opportunities for African athletes, engage fans worldwide, and provide unique entertainment that combines cultural heritage with the thrill of combat sports.
With this strategic partnership, Silverbacks Holdings and AWFC are not just expanding the business of African combat sports—they are promoting a cultural renaissance that honors Africa’s rich traditions while adapting to modern-day demands for content and global connectivity. This investment will likely act as a catalyst, attracting more investors and raising the profile of African sports and entertainment on the world stage.
