Stakeholders Push For Long-term Growth In Africa’s Creative Economy

Industry stakeholders and policymakers have called for focused strategies to ensure sustainable growth in Africa’s creative economy.

They made the call at the 2024 edition of the Africa Creative Market (ACM), held in partnership with Ascend Studios Foundation, U.S. Consulate General, American Business Council, Venture Garden Group, and Paramount Africa. The forum brought together key players from across the continent’s creative industries, including film, music, fashion, and digital arts, to discuss avenues for long-term development.

Convener of the Africa Creative Market, Dr. Inya Lawal, remarked, “ACM 2024 has reaffirmed our mission to empower African creatives and foster sustainable growth in the continent’s creative economy. As we conclude this year’s event, we are reminded of Africa’s immense creative potential and the importance of nurturing talent, promoting cultural exchange, and driving innovation.”

Key highlights of the event include Fashion Day served as a cornerstone of the event, featuring a conference, runway show, and awards ceremony curated by FashionEVO. This gathering celebrated the work of African designers and innovators, showcasing collections from renowned names such as Joseph Ejiro, Gbenga Artsmith, and Kola Kuddus, who seamlessly blended traditional African aesthetics with contemporary design.

Another significant event was the inaugural Global Creative Legal Summit (GCLS) marked a key moment for the legal and creative sectors.

Organised by Oyinkansola Fawehinmi, known as Foza, the summit facilitated discussions among legal experts and creatives on the role of law in the creative economy. Industry leaders, including Prof. Bankole Sodipo and Dr. Ayoyemi Arowolo, led interactive sessions exploring innovative legal solutions.

In conjunction with this, the Creative Investment Forum, organised by the American Business Council, provided insights into investment opportunities within Africa’s creative industries. Speakers like Fegho Umunubo and Princess Zahrah Mustapha Audu addressed legal and regulatory challenges faced by stakeholders in the sector.

Co-founder of ACM, Dr Bada Akintunde Johnson, said ACM 2024 yet again underscored the importance of converging the critical stakeholders across the creative sector.