Africa’s creative economy, valued at nearly $59 billion, is gaining global attention despite representing a small fraction of the $2 trillion global industry. Netflix’s $200 million investment in African markets and Canal+’s planned acquisition of Multichoice highlight the continent’s growing commercial appeal. Efforts to boost the sector include Afreximbank’s expansion of funding for the Creative Africa Nexus program and the African Business Angel Network’s launch of an investor network for sports and creative startups. With global interest in African exports like Nollywood films and Afrobeats music, investors are increasingly recognizing the economic potential of the region’s creative industries.
Source: Semafor