Former President Barack Obama has become a strategic partner and minority owner in the National Basketball Association’s Africa business, which oversees the Basketball Africa League.

The NBA launched its Africa entity in May and values the business as a nearly $1 billion venture. NBA Africa oversees the BAL, which held its inaugural season last May, and has investors including Dikembe Mutombo, Grant Hill and Junior Bridgeman. The league said Obama would use his stake in NBA Africa to fund the Obama Foundation youth and leadership programs across Africa.

Currently, 55 players who are either from Africa or whose parents are native Africans play in the NBA.