The Chairman of the Nigerian Exchange Group, NGX Group, Umaru Kwairanga has called for the creative economy in Africa to be given the regard it deserves as one of the hidden gems loaded with viable opportunities.
In his opening remarks at the just concluded Africa Soft Power Summit, in Nairobi Kenya, Kwairanga stressed that given the increasing popularity of the African arts, music and movies, financial institutions on the continent need to take the creative and innovation economy seriously as an asset class rather than just a cultural footnote.
He said, “Today we are asking what it takes to move Africa’s creative, technological and cultural influence from visibility to ownership – from global attention to durable economic value. That question matters to capital markets because a basic function of capital markets is to match investors who have funds to invest with viable investment opportunities and in doing that, create value for the entrepreneur/investee, the investors and the economy at large.
“To perform that function effectively, capital market operators need to be able to identify viable opportunities and products ahead of the curve and find ways to properly structure and get them ready for funding and monetisation. This is where capital markets and financial institutions have an important role to play.”
On the role of the Nigerian Exchange Group NGX, Kwairanga said that they believe the Exchange of the future must be connected not just to traditional industries, but also to the ideas, creators, entrepreneurs, and technology-driven businesses shaping Africa’s next chapter of growth.
“We understand that capital markets must evolve alongside the economies they serve. As Africa’s economies become increasingly driven by innovation, digital enterprise, intellectual property, and creative talent, our role is not only to provide platforms for capital formation, but to help build the ecosystem that allows these sectors to scale sustainably,” he said.
Kwairanga appreciated the Africa Soft Power Group for convening the event, describing it as timely also, opportunity given the growing influence of African music, arts and culture globally and the renaissance of capital markets across Sub-Saharan Africa.
Let me restate that, what makes this Summit particularly valuable is its recognition that Africa’s story will not be written by one sector alone, but by the alignment of finance, creativity, technology, policy, and human capital working together toward shared growth,” he stated.
Kwairanga further called on all stakeholders to focus their discussions on AI and data ownership, diaspora capital, creator economics, and the investment agenda so as to help forge new paths for many who are involved in the creative and innovation economy.
