Africa’s creative industry serves as a dynamic and promising sector with the ability to drive significant economic growth, foster innovation, and create job opportunities across the continent. As Africa advances and adapts to current global trends, the creative economy is emerging as a crucial element in determining its future trajectory. Rich in cultural diversity and artistic expression, Africa’s creative industry not only instils a sense of pride among its people but also makes a substantial contribution to the continent’s overall GDP. 

According to the United Nations Conference on Trade and Development (UNCTAD), the global creative economy was valued at approximately $2.25 trillion in 2021, with Africa’s share increasing steadily. Forecasts for 2024 suggest that Africa could account for as much as 10% of global creative goods exports by 2030, potentially totalling around $200 billion. This remarkable growth is largely fuelled by advancements in digital technology and an increasing global appetite for authentic African content.

In Sub-Saharan Africa, the music industry has experienced an impressive 24% rise in revenue in 2024, establishing itself as the fastest-growing music market in the world. Artists such as Tyla have gained international attention, earning prestigious awards and highlighting the global appeal of African music. At the same time, Nollywood continues to thrive, generating an estimated $1.2 billion each year, while Netflix has invested over $175 million in African productions since 2016, significantly elevating the profile and reach of African narratives on a global scale.

Leveraging Technology for Growth

Technology plays a crucial role in the evolution of Africa’s creative industries. The rise of digital platforms has enabled artists and creators to reach global audiences, breaking down traditional barriers to entry. Streaming services like Spotify and Apple Music have opened new revenue streams for African musicians, while platforms like YouTube allow filmmakers and content creators to monetize their work directly. 

Moreover, the global export of creative services reached $1.4 trillion in 2022, marking a 29% increase since 2017. Africa is increasingly tapping into this trend, with digital tools empowering creatives to build personal brands, engage with audiences in real-time, and collaborate across borders.

Unlocking Funding for Creative Ventures 

Despite the immense potential, access to funding remains a significant challenge for many creatives in Africa. Traditional financing models often overlook the unique needs of the creative sector, leaving many talented individuals without the resources to scale their ventures. 

Innovative funding models are emerging, including crowdfunding, venture capital, and partnerships with private sector players. Countries like Côte d’Ivoire and Zambia are leading the way with initiatives that support creative entrepreneurs through policy reforms and ecosystem development. Financial literacy and business development programs are also equipping creatives with the tools to navigate the funding landscape effectively.

The Role of Events in Shaping the Creative Economy 

Events are instrumental in shaping Africa’s creative economy by fostering collaboration, sharing insights, and spotlighting innovation. One of the most anticipated gatherings this year is the AfriLabs Annual Gathering 2025 (AAG2025), happening from 7–9 October 2025 in Nairobi, Kenya, under the theme “Africa’s Innovation Future: Policy, Partnerships, & Progress.” 

Among the seven thematic tracks at AAG2025 is the Creative Economy Track, which focuses on the power of African creativity in the digital age. This track explores how African culture, art, music, film, and storytelling can thrive in the digital economy. It will cover key topics such as monetization strategies, the ethical use of AI in creative industries, and how innovation can coexist with cultural preservation and global influence. Learn more at www.afrilabsgathering.com.

Additionally, the Africa Creative Economy Lens Forum, taking place from 28–31 August 2025 in Kigali, Rwanda, is another landmark event. AfriLabs Strategic Communications & PR Manager, Millie Abila, will represent AfriLabs on a panel exploring investment in Africa’s creative industries for sustainable growth. This panel will push the conversation beyond product creation, focusing on how African creatives can leverage technology, unlock funding, and build scalable, monetizable ventures.

Together, these events are shaping the future of Africa’s creative industries by bringing together stakeholders from across the continent and beyond to collaborate, innovate, and invest.

To connect with us at the Africa Creative Economy Lens Forum, please contact our communications team at comms@afrilabs.com.