Transforming Africa's narrative through entertainment

Africa's narrative, diverse culture, and complexities remain the continent's unique selling point in the global entertainment industry. Obi Asika, the convener of Africa's Soft Power Project, discussed the potential of Africa's culture and technology in a recent interview with CNBC Africa. As the sector strives for more investment, Asika emphasized the need for African stakeholders to support and propel the continent's entertainment industry forward. He highlighted the importance of creating original African content, investing in infrastructure, and engaging domestic and foreign investors to unlock the industry's full potential. The conversation began with a focus on content production and distribution, with Asika mentioning a recent boardroom meeting held by Affek, a company he chairs. The company is collaborating with US partners who have raised $100 million to create new content by bringing Hollywood productions to Africa and showcasing original African content on a global scale. Asika stressed the significance of African institutions, banks, and billionaires supporting the industry to ensure that African voices are heard and represented in the global entertainment landscape. A key point of the discussion was the emphasis on all production taking place on the continent, providing job opportunities and investments in African ideas and intellectual property. By building the necessary infrastructure such as film studios and production facilities, Africa can strengthen its position as a hub for creativity and innovation. With strategic partnerships with global Hollywood studios and distribution networks, Africa aims to reach audiences worldwide while empowering its local talent. Asika highlighted the importance of recognizing Africa's domestic market as a significant opportunity for growth. With a young population and a rich cultural heritage, investing in African talent, sports, and entertainment can lead to global success. He emphasized the need for self-confidence in embracing African mythologies, cultures, and narratives, urging stakeholders to actively participate in shaping the continent's story rather than being passive observers. The conversation shifted towards investment in infrastructure, particularly in sports facilities and arenas. Asika mentioned projects in Kigali, Dakar, and Lagos that aim to enhance the sports industry by creating world-class venues. Collaborating with private and public sectors, Asika underlined the importance of functional ecosystems around stadiums to maximize their impact. The upcoming Nigerian Economic Summit presents an opportunity for investors to explore the potential of sports and entertainment facilities across Nigeria's local governments. Despite the passion for sports and entertainment in Africa, Asika noted a gap in understanding the industry as a business. Domestic investors have been hesitant due to perceived risks and lack of clarity on the monetization potential. Asika cited examples of global sports icons like Cristiano Ronaldo to illustrate the immense commercial opportunities in sports merchandise, urging stakeholders to unlock their potential through retail, distribution, and strategic partnerships. The interview concluded with a discussion on the role of government officials in driving the sports and entertainment sectors. Asika highlighted the need for competent and empowered ministers who understand the business of sports and can harness its economic potential. By shifting the perception of these sectors from mere vocations to thriving businesses, Africa can capitalize on its diverse talent pool and cultural assets to drive innovation and economic growth. In summary, Obi Asika's insights shed light on the untapped potential of Africa's entertainment industry and the transformative impact it can have on the continent's narrative. By investing in local talent, infrastructure, and strategic partnerships, Africa can position itself as a global leader in the entertainment sector, shaping its own story and influencing narratives on a global scale.