Cultural and creative industries (CCIs) have become strong contributors to the global economy. According to a UNESCO report, CCIs are among the fastest-growing sectors worldwide. With an estimated annual global worth of $4.3 trillion, the culture sector now accounts for 6.1% of the world economy.
These industries generate annual revenues of $2.25 trillion and provide nearly 30 million jobs globally, employing more people aged 15 to 29 than any other sector. CCIs have become essential for inclusive economic growth, reducing inequality and advancing the goals of the 2030 Sustainable Development Agenda.
READ ALSO: Africa’s Festivals and Cultural Celebrations You Can’t Miss in 2025
The United Kingdom’s creative sector, for instance, contributed £108 billion to the economy in 2023, underscoring the economic impact of cultural industries. However, the dominance of American streaming platforms has raised concerns about the erosion of local content and the need for strategic interventions to support domestic creators.
A commentary based on a Boston Consulting Group report noted that US-based platforms have captured 70% of UK viewers, while British broadcast TV viewership has declined to 75%. Although UK creative revenues have grown by 40%, revenues generated by foreign companies have surged by 300%, revealing a widening disparity. These trends underline the transformative potential of CCIs in driving economic growth, fostering employment and enhancing cultural influence.
Africa’s rich cultural heritage is increasingly recognised as a valuable economic asset. The continent’s CCIs are gaining momentum, with countries like Nigeria, Ghana, and Senegal leading the charge.
Nigeria: Nollywood and Beyond
Nigeria’s film industry, known as Nollywood, is the second-largest film producer globally by volume, trailing only India’s Bollywood. The industry produces about 2,500 films per year, but because pirating films is commonplace in Nigeria, its annual revenue, about $600 million in the mid-2010s, amounts to a mere fraction of that of Hollywood, which produces between 300 and 900 films per year.
Beyond film, Nigeria’s music scene, particularly the Afrobeats genre, has achieved global recognition. Artists like Burna Boy, Wizkid, and Davido have not only topped international charts but have also attracted significant investments, further solidifying Nigeria’s position in the global music industry. In 2023, the music and film industries contributed $1.4 billion to Nigeria’s GDP, with film production and music accounting for about 82% of the revenue from the creative industries sector.
Ghana: Cultivating Cinematic Excellence
Ghana is making strategic investments in its film industry to harness its economic potential. The inaugural African Cinema Summit held in Accra in November 2023 brought together filmmakers from across the continent to discuss collaboration and resource-sharing. The summit highlighted that African cinema currently generates approximately $5 billion annually, with the potential to reach $20 billion and create 20 million jobs.
The Ghanaian government, through the National Film Authority, is actively working to position the country as a hub for high-quality film production, aiming to attract both local and international investments.
Senegal: A Cultural Powerhouse
Senegal has long been recognised for its vibrant cultural scene, particularly in music and fashion. The country’s capital, Dakar, is a nexus for artistic expression, hosting numerous festivals and events that celebrate Senegalese heritage. While specific economic data on Senegal’s CCIs is limited, the government’s commitment to cultural development is evident in its support for initiatives that promote local artists and preserve traditional crafts.
Challenges and Opportunities
Despite the promising growth of CCIs in Africa, several challenges persist. These include inadequate infrastructure, limited access to financing, and issues related to intellectual property rights. Piracy remains a significant concern, particularly in the film and music industries, undermining revenue generation and discouraging investment.
However, opportunities abound. The increasing availability of digital platforms offers new avenues for content distribution, enabling African creators to reach global audiences. Collaborations with international partners, as seen in Nigeria’s partnership with UNESCO and the European Union to strengthen cultural industries in the digital environment, exemplify the potential for growth through strategic alliances.
Africa’s cultural capital is a formidable economic force waiting to be fully harnessed. By investing in CCIs, addressing existing challenges, and leveraging global partnerships, African nations can transform their rich heritage into sustainable economic powerhouses. The experiences of Nigeria, Ghana, and Senegal demonstrate that with the right policies and support, culture and creativity can drive economic development, create jobs, and enhance the continent’s global standing.
