In 2023, the creative industries caught the attention of institutional investors, who poured money into the industry. Afreximbank announced a $1 billion Film Finance Facility for 2024, and the NBA expanded its presence in South Africa and Kenya. Ghana hosted the first Africa Cinema Summit. And Sony Ventures launched a $10 million fund to support early-stage entertainment startups. According to PwC, the African entertainment market is set to grow by 15% annually from 2020 to 2025, reaching $4.6 billion by 2025. This sector offers huge opportunities for innovation, creativity, and monetization.
SOURCE: VENTURES AFRICA