Africa is brimming with talent, stories, and creativity. However, the potential of the cultural and creative industries (CCI) – including cinema, music, fashion, and visual arts – often remains untapped. These sectors hold immense opportunities for the continent’s economic and social development.
“Investing in CCI means creating jobs, generating income, and stimulating economic growth,” says Peace Anyiam-Osigwe, founder of the African Movie Academy Awards. For instance, Nollywood has become the world’s second-largest film industry in terms of production, significantly contributing to Nigeria’s economy.
CCI also support cultural diversity and innovation. They allow for the authentic storytelling of African experiences and the preservation of cultural heritage. As Kwame Nkrumah once said, “We face neither East nor West; we face forward,” emphasizing the importance of cultural pride and independence. Moreover, CCI play a crucial role in enhancing a country’s attractiveness to tourists by drawing visitors from around the globe through festivals and exhibitions.
A prime example is the Ubuntu Ink’Art Festival, organized by Gate Africa and Ubuntu Creative Hub. This annual festival, held in Yaoundé, promotes contemporary art and creates opportunities for local and international artists. It celebrates cultural diversity and fosters artistic dialogue. “Art is a nation’s most precious heritage,” said Léopold Sédar Senghor, highlighting the value of cultural events.
Notably, investor Freddy Tchala has significantly contributed to this sector by offering a state-of-the-art center, the Ubuntu Creative Hub, where CCI professionals can create and promote their works. This hub is set to host the inaugural Ubuntu Ink’Art Festival, demonstrating its vital role in supporting and fostering the creative community.
Cultural and creative industries also offer unique opportunities for Africa’s youth, enabling them to develop their talents and skills, thus reducing unemployment and fostering entrepreneurship. Investing in CCI also strengthens national identity and social cohesion by providing a platform for cultural expression. As Chinua Achebe noted, “Art is man’s constant effort to create for himself a different order of reality from that which is given to him.”
Business leaders and private investors must recognize the vast potential of CCI in Africa. Investing in these sectors not only ensures financial returns but also significantly contributes to the continent’s economic and social growth. “Without creativity, there would be no progress, and we would be forever repeating the same patterns,” observed Edward de Bono.
