MIAF and Goethe-Institut to host CCI round table

The discussion will be held under the theme Reimagining Sustainable Investment in Africa’s Creative and Cultural Industries and is part of the seventh EU-Africa Business Forum. The roundtable discussion is an initiative of the Sound Connects Fund (SCF), a Southern Africa-wide arts funding project developed and implemented by the MIAF and Goethe-Institut.

The round table seeks to explore various sub-topics including funding model comparisons (EU and sub-Saharan Africa), streamlining creative and cultural industries (CCIs) for sustainable investment, new investment models and return on investment, policymaking for the creative and cultural sectors, and lessons from successful funding models and projects such as the SCF.

The platform will feature experts and players from the CCIs, investment and funding, as well as policy-makers and participants from legal fraternities. They include Creative Economy Practice managing partner Ojoma Ochai (Nigeria), South African Cultural Observatory executive director Unathi Lutshaba (South Africa), Culture and Development East Africa executive director Ayeta Wangusa (Tanzania), Konnektiv co-founder and CEO Geraldine de Bastion (Germany) and MIAF deputy chairperson Maimouna Dembélé (Senegal).

“The SCF project is one example of how traditional grant funding models can be challenged to suit an ever-changing and dynamic creative sector by ensuring availability of adequate financial resources for grantees to mount impactful programmes,“ SCF regional coordinator Thabiso Mohare said. ”This also includes efforts towards capacity-building programmes for the grantees, to ensure their growth and sustainability beyond funding stage.”

Background

The African cultural and creative industry is one of the most resilient sectors on the continent despite weak enforcement of existing policies, lack of appropriate infrastructure, an underdeveloped value chain of the CCIs and lack of adequate and equitable financial opportunities. According to the Partech Africa annual report, sustainable investment in Africa’s CCI’s remains a challenge, with only 1% of venture capital and private equity investment going to entertainment industry players in 2019. While 2020 saw an investment boost in the entertainment industry, the creative and cultural sector as a whole still lagged behind most other sectors, securing only 2% of the total funding.

Mohare said active and thriving CCIs had the potential of influencing income generation, job creation and export earnings in developing countries.

“With Africa’s young population expected to double by 2045, to achieve the untapped economic growth potential, there is a need to reimagine how we invest in the African arts sectors and create a new way of understanding and appreciating the current prospects that are available,” he said.

Attendees can register here to be part of the round-table discussion. Upon registration, attendees will have access to the full EU-Africa Business Forum digital platform.