• Boston Consulting Group estimates Africa’s creative exports could reach $140–150 billion by 2030.
• The sector currently generates $59 billion, representing less than 3% of a $2 trillion global market.
• Creative industries attract less than 1% of venture capital in Africa, highlighting a major funding gap.

Africa’s creative economy is emerging as a high-potential growth sector. However, investors continue to overlook the industry despite strong fundamentals and rising global demand.

A report published in February 2026 by Boston Consulting Group, titled “Africa Unleashed: Empowering Women in Creative Industries”, highlights the scale of the opportunity. The report, authored by Lisa Ivers and Zineb Sqalli, presents a sector that is both dynamic and structurally underfunded.

Africa’s creative economy, which includes fashion, music, film, design and digital content, currently generates about $59 billion. This figure represents less than 3% of a global market valued at nearly $2 trillion. However, the gap also signals significant growth potential.

Demographics as a growth engine

Three key drivers support this outlook. First, Africa benefits from strong demographics. The continent hosts around 890 million people under the age of 25, representing nearly 60% of its total population. This group provides both a large workforce and a growing base of cultural consumers and digital-native creators.

Second, digital adoption is accelerating. Between 300 million and 400 million Africans actively use social media platforms. As a result, platforms such as TikTok, YouTube and Spotify are becoming low-cost channels for exporting cultural content.

Third, Africa holds significant cultural capital. The continent’s design, storytelling and aesthetic traditions represent a largely under-monetized form of intellectual property. At the same time, a diaspora of more than 200 million people amplifies the global reach of African creative output.

According to Boston Consulting Group, Africa could double its share of the global creative market from 3% to 6% by 2030. This shift could increase creative exports to between $140 billion and $150 billion. However, this scenario requires improved investment conditions.

Fashion emerges as a key sector driven by women

Women play a central role in this ecosystem. In the fashion and design sector, which is valued at $31 billion, women account for more than 60% of the workforce across the continent. In countries such as Kenya and Madagascar, this share exceeds 80%.

Women contribute across the entire value chain, from textile production to creative direction and cross-border trade. According to the African Development Bank, Africa’s fashion industry alone could contribute up to $50 billion to continental GDP and create 400,000 jobs in sub-Saharan Africa with adequate support.

However, investment data shows a contrasting reality. In 2024, Africa’s creative industries attracted less than 1% of total venture capital funding on the continent, with only about $1.5 million in disclosed deals. Meanwhile, fintech companies raised $1.35 billion over the same period.

More than 90% of fashion businesses operate with less than $1,000 in capital. Women receive less than 10% of available funding, and this share often falls below 1% in Nigeria.

Beyond capital: building a viable ecosystem

The Boston Consulting Group emphasizes that solutions extend beyond financing. Case studies illustrate the role of public policy in supporting the sector.

In Ethiopia, the Hawassa Industrial Park created more than 24,000 jobs, with women holding 80% of positions. In Rwanda, restrictions on second-hand clothing imports increased the number of textile companies from fewer than 10 to around 70 within six years.

Seamstresses at the Hawassa Industrial Park in Ethiopia

In both cases, political will drove outcomes more than market forces. The report argues that stakeholders must build a comprehensive ecosystem. This ecosystem should include tailored financing adapted to informal and seasonal business models, decentralized production hubs, improved access to formal markets, stronger intellectual property protection and expanded digital training.

This article was initially published in French by Fiacre E. Kakpo

Adapted in English by Ange J.A de Berry Quenum