Capital Markets Urged to Fund Africa’s Creative Economy — Kwairanga Pushes for New Investment Class

African capital markets have been urged to expand their investment focus beyond traditional sectors such as oil, banking, and manufacturing, toward the continent’s fast-rising creative and innovation economy.

The call was made by the Chairman of Nigerian Exchange Group Plc, Alhaji Umaru Kwairanga, during his opening remarks at the Africa Soft Power Summit held in Nairobi, Kenya. He emphasized that Africa’s growing cultural influence in music, film, and digital content should be treated as a legitimate and structured investment asset class.

Kwairanga noted that while African entertainers such as Burna Boy, Tyla, and Diamond Platnumz are gaining global recognition, the wider creative ecosystem still lacks strong financing systems, copyright monetisation structures, and value chains that ensure fair rewards for all contributors in the industry.

He also questioned whether industries like Nollywood and East Africa’s film sector are fully capturing their economic potential, stressing that the absence of institutional backing limits growth. According to him, Africa’s exchanges must evolve to support innovation-driven businesses and emerging digital enterprises that are reshaping the continent’s economy.

Kwairanga further called for a redefinition of Africa’s capital markets, saying future exchanges must be more connected to creators, entrepreneurs, and technology-led industries. His remarks come as Nigeria’s capital market continues to seek diversification beyond its traditional heavyweights, with growing interest in intellectual property, film infrastructure, and digital innovation hubs.

source: punch