Musicians perform on stage at a vibrant African city event, highlighting strong community bonds through music and culture.
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