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Africa

Africa’s Creative Economy, Why the Continent’s Next Oil May Be Its Imagination

Africa’s wealth has been measured by what lies beneath the ground – oil, gold, diamonds…

05 Aug 20265 min readBy EandelSource: Eandel News & Magazine

Africa’s wealth has been measured by what lies beneath the ground – oil, gold, diamonds and minerals for many years now. However, economists and industry stakeholders are seriously looking elsewhere; through the continent’s window, people, stories and creativity are beaming forth sustainably.

Africa’s creative industry is fast becoming one of its most promising economic frontiers. Once seen primarily as a cultural expression, the sector is now creating jobs, attracting investment, preserving heritage and offering governments a viable route to diversify their economies.

Current estimates of the creative industry, places Africa’s creative economy at nearly $60 billion, and supporting more than five million jobs. With the right policies, stronger intellectual property protection and amplified investment inflow in digital innovation, the figure could surpass $200 billion by 2030.

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