The 2016 Africa Nations Championship (CHAN) draws were held yesterday at the Kigali Serena Hotel.

Sixteen teams including hosts Rwanda will take part in the three-week tournament that will run from January 16 to February 7 next year. While many will be looking at supporting the national team (Amavubi), to win the continental show piece, there is the other side of the tournament that presents business opportunities, which the local business community should position itself to exploit.

The local business community in Rwanda is yet to embrace the culture of corporate sponsorship of sports events, yet the world over; sport is a multi-million business industry. One of the reasons why many local sports federations are struggling to survive is largely because the private sector has not fully embraced the fact that sports sponsorship is one of the ways to build a business brand.

However, this should not be the case when Rwanda hosts the second biggest sports event on the continent, which is expected to attract thousands of fans from several countries.

Apart from the entertainment that will come with the event, there is need for the business community to put some innovation and creativity into how they can cash in from the excitement surrounding the football event.

Corporate companies should tap into the corporate opportunities that the event in their backyard has to offer.

This being one of the biggest events ever hosted in Rwanda and to be graced by thousands of fans from over 15 countries, and watched by millions on TV, CHAN is an excellent one-off occasion to showcase your company brand.

Offering services such as selling football-related merchandise like flags, t-shirts, calendars, and souvenirs are all ways through which the local business community can maximize income.