The African Film Industry Has The Potential To Generate 20 Million Jobs



As the war on content is raging between major streaming platforms, giants like Netflix, who are constantly on the search for new stories and talent, have set their sight on Africa. Suddenly, the rest of the world seems to be discovering something that most Africans have known to be true for a while: Africa is a bottomless well of creativity.

This newfound appetite for African content puts the continent in a favourable position to explore this path as a means of economic diversification. In fact, the African industry currently contributes just US$5 billion to GDP and only employs 5 million people, in stark contrast to the potential 20 million jobs and US$20 billion it could generate, according to a new UNESCO report.

Undervalued and underserved, the cultural and creative industries (CCIs) have long suffered from the idea that they weren’t viable sources of income and investment. A reset is now long overdue, as we now have compelling data demonstrating that CCIs can offer both incomes and great investment opportunities.

Government and business leaders across the continent should take advantage of the opportunities investing in CCIs offers. Setting the sector for success requires strong will from both the public and private sectors defined by strong policies to create an enabling environment, as well as providing much needed funds to this nascent revenue stream.

In my latest blog, I discuss the potential of the African film industry in light of the latest UNESCO report. To read more, please visit: https://africaprimeinitiative.com/the-african-film-industry-has-the-potential-to-generate-20-million-jobs/

 

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