Profit-making idea: Africa’s creative industries

Digitisation and mobile penetration have drawn attention to a less traditional investment destination: Africa’s creative industries, says a new report by investment group Palladium.

Africa’s cultural goods sector is estimated to employ about half a million people and generate $4.2 billion in revenue, and major companies such as Netflix, Universal Music Group, Sony Music, and Warner Music Group have recently entered the African market.

This international recognition and integration will sustain the sector’s growth, a fact reflected by the African Export-Import Bank’s recent announcement of a $500 million credit facility to support African cultural and creative products.