This document discusses funding and investment opportunities in Nigeria's creative economy. It begins with an introduction on the potential of the creative economy. It then provides an overview of the Nigerian creative economy, noting it is the 2nd largest employer and will contribute N5 trillion to GDP by 2025 across five sectors. The document discusses opportunities to empower emerging creatives through strategic funding. It also highlights opportunities in Lagos for creative and commercial collaboration. It discusses dynamics of strategic investment in the creative economy and various funding models including traditional and emerging options. Government policies and global case studies that support the creative economy through funding and incentives are also examined.
Developing the Nigerian Creative Economy through Privatising Strategic Assets...BolajiOkusaga
GROWING NIGERIA'S CREATIVE ECONOMY BY PRIVATISING STRATEGIC ASSETS CURRENTLY HELD BY GOVERNMENT AND UNDERLEVERAGED.
Nigeria's Creative Economy has enormous potential. From Visual Arts to Music, to Film (Nollywood), to Theatre, to Fashion, Architecture, to Advertising - Nigeria's Creative Economy has come of age and needs a proper structure for sustainable growth. I am therefore proposing the privatisation of strategic assets in the Creative Industries currently held by the Government and the fostering of policies that can drive integration and synergies among Creative Industries players thereby improving the fortune of players within the Creative sector and growing the sector's contribution to Nigeria's GDP.
The Culture of Welcoming: Attracting and Retaining Creative ClassEmily Robson
Presentation delivered by Magdy ElDakiky, Community Economic Development Specialist, Ontario Ministry of Agriculture, Food and Rural Affairs at November 27 2008 \"Economies in Transition\" forum in Chatham, Ontario.
The Economics of Kindness: The Birth of a New Cooperative Economy.
Here is the link for Part 2: https://www.slideshare.net/GuyDauncey/the-economics-of-kindness-part-2
Today’s economy has become for many a kindness-free zone, in which most of the benefits go to the rich, while others suffer, and nature is assaulted.
Capitalism is based on the competitive pursuit of self- interest, but a new economy is emerging to replace it, based on cooperation and kindness. It is being built in cities and on farms, in new kinds of business and banking, and in new approaches to work.
Guy Dauncey is a futurist who works to develop a positive vision of a sustainable future, and to translate that vision into action. His work has been enthusiastically received by environmental activists, politicians, scientists and community planners, including prominent Canadians such as David Suzuki and Elizabeth May. He is the author of Journey to the Future and The Climate Challenge: 101 Solutions to Global Warming.
Ben Clayton from Corl Financial Technologies presented the City of Montréal as part of the Startup Cities Stage at SXSW 2019.
https://schedule.sxsw.com/2019/events/PP102797
Hosted by Sam Michel, Chinwag.
Developing the Nigerian Creative Economy through Privatising Strategic Assets...BolajiOkusaga
GROWING NIGERIA'S CREATIVE ECONOMY BY PRIVATISING STRATEGIC ASSETS CURRENTLY HELD BY GOVERNMENT AND UNDERLEVERAGED.
Nigeria's Creative Economy has enormous potential. From Visual Arts to Music, to Film (Nollywood), to Theatre, to Fashion, Architecture, to Advertising - Nigeria's Creative Economy has come of age and needs a proper structure for sustainable growth. I am therefore proposing the privatisation of strategic assets in the Creative Industries currently held by the Government and the fostering of policies that can drive integration and synergies among Creative Industries players thereby improving the fortune of players within the Creative sector and growing the sector's contribution to Nigeria's GDP.
The Culture of Welcoming: Attracting and Retaining Creative ClassEmily Robson
Presentation delivered by Magdy ElDakiky, Community Economic Development Specialist, Ontario Ministry of Agriculture, Food and Rural Affairs at November 27 2008 \"Economies in Transition\" forum in Chatham, Ontario.
The Economics of Kindness: The Birth of a New Cooperative Economy.
Here is the link for Part 2: https://www.slideshare.net/GuyDauncey/the-economics-of-kindness-part-2
Today’s economy has become for many a kindness-free zone, in which most of the benefits go to the rich, while others suffer, and nature is assaulted.
Capitalism is based on the competitive pursuit of self- interest, but a new economy is emerging to replace it, based on cooperation and kindness. It is being built in cities and on farms, in new kinds of business and banking, and in new approaches to work.
Guy Dauncey is a futurist who works to develop a positive vision of a sustainable future, and to translate that vision into action. His work has been enthusiastically received by environmental activists, politicians, scientists and community planners, including prominent Canadians such as David Suzuki and Elizabeth May. He is the author of Journey to the Future and The Climate Challenge: 101 Solutions to Global Warming.
Ben Clayton from Corl Financial Technologies presented the City of Montréal as part of the Startup Cities Stage at SXSW 2019.
https://schedule.sxsw.com/2019/events/PP102797
Hosted by Sam Michel, Chinwag.
Leveraging Opportunity Zones to Support Regional Economic Developmentnado-web
During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Scott Dadson shared information creating investable communities and how to take advantage of the Opportunity Zone Program.
Consolidating the development of the Aruban economy (NISP)Edward Erasmus
Slide presentation of the key aspects concerning the economic development section of Aruba's National Integrated Strategic Plan (NISP). Prestented on November 25th @ the Radisson Aruba Resort during the Action Symposium.
Hear about how Northern Kentucky is positioning the region for economic development, what financing opportunities are available, and the recent success of Bellevue's public participation in urban planning.
Presented at the CREW Luncheon on Tuesday, June 8, 2010.
Senior Vice President and Regional Head, Africa; Accion
Brian Kuwik leads and manages Accion's operations and relationships with partners in Africa and Haiti. Accion's regional program aims to improve financial inclusion in the region through equity investments in microfinance banks and other new ventures as well as the provision of management and technical services to Accion Microfinance Bank in Nigeria, Akiba Commercial Bank in Tanzania, EB-Accion in Ghana and Cameroon, SOGESOL in Haiti and other microfinance banks. Mr. Kuwik sits on the boards of these partner banks, plays an active role in governance, and provides strategic and financial advice. He also supervises Accion's technical assistance activities in the areas of strategic and business planning, product and operations development, human resources management, information technology, and risk management from its office in Ghana. Previously, he served as resident advisor and senior manager for Accion partners in Zimbabwe, Uganda and Haiti. He has supported the design and start-up of new institutions in Nigeria, Ghana and Cameroon.
Before joining Accion in September 2001, Mr. Kuwik worked for three years at the Small Enterprise Foundation in rural South Africa. Prior to these positions, he was a Fulbright researcher in Cameroon.
Mr. Kuwik holds an M.B.A. in finance and international business from the University of Washington and a B.A. in international development from American University.
Leveraging Opportunity Zones to Support Regional Economic Developmentnado-web
During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Scott Dadson shared information creating investable communities and how to take advantage of the Opportunity Zone Program.
Consolidating the development of the Aruban economy (NISP)Edward Erasmus
Slide presentation of the key aspects concerning the economic development section of Aruba's National Integrated Strategic Plan (NISP). Prestented on November 25th @ the Radisson Aruba Resort during the Action Symposium.
Hear about how Northern Kentucky is positioning the region for economic development, what financing opportunities are available, and the recent success of Bellevue's public participation in urban planning.
Presented at the CREW Luncheon on Tuesday, June 8, 2010.
Senior Vice President and Regional Head, Africa; Accion
Brian Kuwik leads and manages Accion's operations and relationships with partners in Africa and Haiti. Accion's regional program aims to improve financial inclusion in the region through equity investments in microfinance banks and other new ventures as well as the provision of management and technical services to Accion Microfinance Bank in Nigeria, Akiba Commercial Bank in Tanzania, EB-Accion in Ghana and Cameroon, SOGESOL in Haiti and other microfinance banks. Mr. Kuwik sits on the boards of these partner banks, plays an active role in governance, and provides strategic and financial advice. He also supervises Accion's technical assistance activities in the areas of strategic and business planning, product and operations development, human resources management, information technology, and risk management from its office in Ghana. Previously, he served as resident advisor and senior manager for Accion partners in Zimbabwe, Uganda and Haiti. He has supported the design and start-up of new institutions in Nigeria, Ghana and Cameroon.
Before joining Accion in September 2001, Mr. Kuwik worked for three years at the Small Enterprise Foundation in rural South Africa. Prior to these positions, he was a Fulbright researcher in Cameroon.
Mr. Kuwik holds an M.B.A. in finance and international business from the University of Washington and a B.A. in international development from American University.
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3. Introduction
In an era where technological advancements have disrupted traditional industries,
the Creative Economy cradles the profound potential of innovation, fostering
growth, and shaping the future.
Today, we find ourselves at the cusp of an unprecedented era of creativity, where
creators, artists, designers, writers, filmmakers, and musicians are converging
with tech-savvy entrepreneurs to birth groundbreaking ideas that challenge
conventional thinking.
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
3
4. Overview of Nigerian Creative
Economy
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
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• 2nd largest employer in the country,
employing 4.2 million people.
• Create 2.7 million jobs in 2025,
contribute N5 trillion to the country’s
GDP.
• 5 sectors: Media, Entertainment,
Beauty & Lifestyle, Visual Arts, and
Tourism & Hospitality.
• Highest contributing sectors are
Broadcasting (N1.7trn), Textile,
Apparel & Footwear (1.41trn), and
Motion Picture & Music (N1.2trn).
Media
Entertainme
nt
Beauty &
Lifestyle
Visual Arts
Tourism &
Hospitality
Total
2025 0.2 0.7 0.8 0.8 0.2 2.7
2021 0.1 1.4 2.1 0.4 0.2 4.2
0
1
2
3
4
5
6
7
8
Number
of
People
in
Millions
Jobs in the creative sector
Source: Jobberman Creative Sector Report
5. Empowering Emerging Creatives
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
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• Strategic funding initiatives play a pivotal role in providing the
necessary resources, mentorship, and support to emerging
creatives, enabling them to transform their visions into tangible
reality.
• With access to strategic funding, emerging creatives can
amplify their reach, influence, and ability to drive societal
change.
6. The only way to limit creativity is
to limit yourself.
BEN OKRI
Nigerian Poet and Novelist
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
6
7. Lagos State: Opportunities & Fresh
Perspectives
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
7
Lagos as Nigeria’s Commercial and Creative Hub has huge potential lying in wait. The state is
the center for art, music, fashion, sports, tourism and creative experiences. The “Detty
December” phenomenon is a renowned tourist attraction and huge cash cow for private
entities, MSMEs and individuals alike. Its peak period for supporting industries as well. Imagine
a city where:
• Sports and Commerce collide: Innovative sports apparel and merchandise, designed by
local creatives, are sold online and in physical stores, boosting tourism and local businesses.
• Art meets Tourism: Immersive art experiences, powered by digital technology, attract
visitors from around the world, generating revenue and showcasing local talent.
• Food and Hospitality merge: Culinary experiences curated by local chefs and food bloggers
become must-try destinations for tourists, promoting cultural exchange and gastronomic
tourism.
8. Strategic Investment Dynamics
Ever-Evolving
The complexities of
investing in a dynamic
sector requires staying
ahead of the curve being
flexible & keeping a finger
on the pulse of emerging
technologies, consumer
behaviours, & cultural
shifts.
This means continuous
monitoring, adaptation,
and a deep understanding
of the market trends.
No Risk, No Reward
In the creative economy,
the risks are often
amplified due to the
inherent nature of
innovation, disruption, and
the ever-changing market
dynamics.
Mitigating risk while
seeking ample returns is at
the forefront of decision-
making processes.
Happy Hunting
Identifying and assessing
investment opportunities
in the creative economy is
key as creatives, as
investors and as
stakeholders.
The core values of
businesses don’t change
across sectors: Capable
Team, Sustainable
Competitive Advantage,
Rigorous Market Analysis &
Due Diligence.
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
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10. CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
10
• Conventional Investment Approaches: Focus
primarily on assessing the financial viability,
growth potential, and competitive landscape
of a venture. This method has proven
successful for many investors.
• Avant-garde Models: These models consider
factors such as the quality of artistic content,
cultural impact, audience engagement, and
intellectual property, alongside the financial
metrics. This captures the intrinsic value of
creative ventures.
Funding Diversity
11. Funding Innovation: Beyond
Traditional Models
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
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• Women’s Football - A funding success story: The recent surge in women's football
demonstrates the power of targeted funding. Investment in the entire value chain, from
grassroots training to merchandise and team development, has propelled women's football to
new heights. Global investment in women's football has increased by 300% since 2015,
reaching $1.2 billion in 2021. Registered Female Footballers increased by 30%, Global
Viewership increased by 50%.
• Lottery as a Crowd-funding model: Successful models like the UK National Lottery, uses a
portion of proceeds totalling £46 billion for good causes since its inception in 1994, including
£1.5 billion for arts, culture, and sport. This innovative approach leverages public participation
while supporting creative endeavours. This has also generated £3.9 billion in tax revenue each
year.
• Infrastructure Investment: Funding the physical infrastructure that supports the creative
economy is crucial. Purpose-built entertainment centres, Academies and Creative Hubs
(Leveraging the National Startup Act) equipped with digital technology, data connectivity,
secure environments, and seamless payment systems will attract audiences and drive
economic growth.
12. Government Policies & Funding
Landscape
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
12
Governmental policies and incentives have a significant impact on the availability and
accessibility of funding; Regulatory frameworks are particularly important in
establishing a supportive environment for the creative economy. Policies that promote
innovation, protect intellectual property rights, and encourage competition can create
an ecosystem that fosters growth and attracts investment. This can be done through:
• Direct Funding Mechanisms – Grants, Loans, Subsidies
• Tax Breaks and Incentives – Tax Breaks, Deductions, Credits, Tax Free Zones
• Regulatory Reforms – Simple Processes, Reduced Hurdles, Amendments
• Collaboration and Knowledge Sharing Initiatives – Public-Private Partnerships,
Research & Development, Creative Academies & Training Schemes, Creative Hubs &
Co-working Spaces, Leveraging the National Startup Act.
13. Learning from our Neighbors
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
13
Government Policies & Funding Landscape
Kenya
Rwanda's vibrant music
scene, fostered by
government initiatives and
private investment, attracts
international artists and
music lovers alike.
Initiatives like the "Made in
Rwanda" campaign promote
local music globally and
generates $20m revenue p/a
Ghana
Ghana's "Year of the Return"
2019 initiative strengthened the
connection between the African
diaspora and Ghana by
attracting tourists and investors.
It also took advantage of the
growing demand & social
phenomenon for of the African
diaspora to ‘connect to their
roots’.
2,000 direct jobs & 1.2% increase
in GDP was attributed to the
Year of the Return activities.
Rwanda
Kenya's film industry, supported
by government funding &
international partnerships, has
produced award-winning films
with $100m revenue p/a and
created 10,000 jobs for local
talent.
Collaborations with international
film organizations & co-
productions showcase stunning
landscapes and diverse cultural
tapestry.
14. Global Case Studies
Case Study 1: Dedicated
Government Funds
United Kingdom's Creative Sector tax relief
program (2012) provides tax breaks of £120
million p/a to companies engaged in
creative ventures like high-end television,
video games, and animation.
Modelled on the existing film tax relief
scheme, which has supported over £5 billion
of investment into British films and seen a
70% increase in the film production
workforce since its introduction in 2007.
Case Study 2: Tax Reliefs
CREATIVE ECONOMY: FUNDING & INVESTMENT
OPPORTUNITIES
14
South Korea’s comprehensive strategy
includes direct funding, tax incentives,
and regulatory reforms. As a result, they
are a global leader in creative industries,
particularly in film, music, and gaming.
Singapore invested in infrastructure and
initiatives like developing creative
clusters, co-working spaces & attracting
international talent. These efforts
positioned them as a hub for innovation
and creativity in Southeast Asia.
Government Policies & Funding Landscape