Nigerian media personality and CEO of EbonyLife Media, Mo Abudu, unveiled her visionary “Africa Creates” initiative at the 2023 World Bank/International Monetary Fund (IMF) Annual Meetings in Marrakech. The initiative’s primary aim is to showcase and elevate Africa’s creative talent, not only on the continent but also worldwide.
Abudu emphasised the potential for Africa to shape its future and become a pivotal global force. “Statistics tell us that by 2050, one in every four people in the world will be an African. The median age of an African is 19, making us the youngest population on Earth. As such, the world will increasingly rely on our contribution,” she affirmed.
Highlighting the vast economic prospects within the creative sector, Abudu projected that approximately $700 billion would be generated from the digital economy by 2050. She also noted that the film and audio-visual industry alone could provide employment for 20 million people by 2050, with an annual revenue of $20 billion.
However, Abudu emphasised that the realisation of these projections is contingent on specific actions. She described this as a business opportunity rather than a charitable endeavour, requiring a prepared African continent.
Abudu urged African leaders to invest in the creative industry’s future, ensuring easy access to funding and capacity building to nurture the right skills. She emphasised the need to develop global stars across various creative fields, including actors, directors, producers, and writers, underscoring their potential to generate revenue and foster monetization.
Ceda Ogada, Secretary of the IMF, acknowledged the significance of holding the meetings on African soil, especially 50 years after Nairobi, Kenya hosted them. He expressed the pride and excitement of Africans, noting that this is an ideal platform to celebrate Africa’s rich culture and heritage while discussing the creative industry’s role in job creation and economic growth.
The event featured the experiences and insights of various creatives, including Audu Maikori, Founder of Chocolate City Group, Hannah O’Leary, Head of African Art at Sotheby’s, Filmmaker Mandla Walter Dube, fashion designer Lanre Da Silva Ajayi, Marlène Ngoyi Mvidia, CEO of the Fund for Export Development in Africa (FEDA), and Brahim El Mazned, Artistic Director of the Timitar Festival of World Music.
In essence, “Africa Creates” signifies a compelling opportunity for Africa to harness its burgeoning creative potential and lead the world in various artistic fields, bolstering the continent’s socio-economic growth.
