Chairman of Nigerian Exchange Group Plc, Alhaji Umaru Kwairanga
The Chairman of Nigerian Exchange Group Plc, Alhaji Umaru Kwairanga, has called on African capital markets and financial institutions to expand beyond traditional industries such as oil, banking, and manufacturing by embracing the continent’s fast-growing creative and innovative economy as a viable investment asset class.
“Given the increasing popularity of our arts, our music, and our movies, African financial institutions need to take the creative and innovation economy seriously as an asset class rather than just a cultural footnote,” Kwairanga stated during his opening remarks at the Africa Soft Power Summit on Thursday in Nairobi, Kenya. The summit, convened by the Africa Soft Power Group, focuses on strengthening the intersection between Africa’s creative industries, technology ecosystem, and capital markets, while exploring how the continent can convert its growing global cultural influence into sustainable economic value.
Kwairanga noted that although some African artists are beginning to enjoy international recognition and financial success, many creative sectors across the continent still lack proper monetisation structures, financing systems, and value chains capable of rewarding all participants.
