The Chairman of Nigerian Exchange Group, Alhaji Umaru Kwairanga, has urged African capital markets and financial institutions to look beyond traditional sectors such as oil, banking, and manufacturing by embracing the continent’s rapidly growing creative and innovation economy as a viable investment asset class. He delivered this call during his opening remarks at the Africa Soft Power Summit held on Thursday in Nairobi, where policymakers, investors, creatives, entrepreneurs, and business leaders convened to discuss Africa’s cultural, technological, and economic trajectory.
The summit, organized by the Africa Soft Power Group, aims to strengthen the intersection between Africa’s creative industries, technology ecosystem, and capital markets, while exploring how the continent can translate its growing global cultural influence into sustainable economic value. Kwairanga noted that Africa’s booming music, film, and innovation sectors present significant investment opportunities that remain largely underdeveloped, despite their increasing international popularity.
According to him, the creative economy should no longer be treated as a cultural footnote but as a serious economic sector capable of generating sustainable returns for investors and long-term value for economies across the continent. He observed that while some African artists are beginning to enjoy global recognition and financial success, many creative sectors still lack proper monetization structures, financing systems, and value chains that can reward all participants.
Kwairanga questioned how Africa could replicate the success of companies such as Safaricom across its growing technology hubs without stronger financing systems and institutional support. He stressed that African exchanges and financial institutions must evolve in line with changing economic realities by supporting innovation-driven businesses and helping them scale sustainably. The future of African capital markets, he argued, depends on their ability to support sectors driven by intellectual property, digital enterprise, artificial intelligence, creators, and technology entrepreneurs.
He explained that the NGX already recognizes the importance of adapting to the continent’s evolving economic structure. Kwairanga added that future exchanges across Africa must broaden their focus beyond traditional industries and connect more directly with emerging sectors. In related developments, Livingtrust Mortgage Posts N1.01 Billion Profit, reflecting growing investor confidence in Nigeria’s financial services landscape. Meanwhile, the Efcc Probes Suspected financial irregularities in several sectors, and the Vfd Group Refund process continues to draw attention from market participants. On the policy front, Tinubu Urges Nigerians to support economic diversification efforts, while Photos: Ministers, Senators from recent legislative sessions highlight ongoing discussions around capital market reforms and creative industry financing.
