Over the past decade, African creativity, art and entertainment has witnessed significant growth and expansion, writes Oluchi Chibuzor
According to a PwC report, “Global Entertainment and Media outlook, the music and entertainment industry in African countries like Nigeria is expected to continue to expand by 2022 with a projected 21.5 per cent growth rate (CAGR), with revenue reaching $9.9 billion.
The African entertainment industry has not only attracted the attention of the world to Africa but has helped to project some of Africa’s great talents to the world. Gone are the days when Africans rely on foreign artists, designers and film makers for quality and captivating creative art, music, fashion and films.
Globally, financial institutions are constantly adjusting to appeal to the needs of the millennial generation and banks in Nigeria have also adopted this strategy.
Today, financial institutions are gradually changing their banking model to attract and retain the country’s rising youth population, by creating an atmosphere that blends lifestyle, music, art, fashion, commerce, with banking.
Precisely, last month, a lot of banks in the country put together different lifestyle events to bond with their customers.
According to report by Accenture, banks are moving in the direction of identifying new micro-segments based on lifestyle, values, aspirations, and needs, and targeting them with dedicated propositions.
Today, we can say for a fact that Africa is self-sufficient in terms of entertainment and creativity. This was clearly exemplified and illustrated at the just concluded second edition of the Born in Africa Festival (BAFEST) powered by Access Bank Plc.
The Born in Africa festival is a celebration of the unparalleled dynamism of the true African spirit and creativity. This entertaining fusion of music, art, film and fashion is designed to tell a positive African story globally and better connect the world to the African continent.
Therefore, the Born in Africa Festival is birthed from a need to tell the true African story in all its glory. The second edition of the festival, themed, “More for The Culture,” held in Lagos, last month, and saw over 35,000 attendees trooping in from across Nigeria and beyond.
Africa has several entertainment festivals created with the aim of projecting the continent, festivals such as Bushfire festival in Swaziland, Sauti Za Busara in Tanzania, Festival au Désert in Mali, Africa in Motion (AiM) Film Festival and the likes, but until the introduction of BAFEST, there was not one festival that brings all the elements of art (Music, film, creative art and fashion) under one umbrella with the sole aim of projecting Africa in good light.
The 2019 Born in Africa Festival was truly a celebration and projection of Africa and African talents, this was evident in the caliber of music artists, fashion designers, creative art and films featured.
The festival had the likes of Burna Boy, who is a true depiction of Africa’s talent, he started from the grass roots in Nigeria, but is currently enjoying global fame and acceptance.
Also present was Naira Marley who is also currently enjoying music success and gaining massive following of young Africans. Other musicians present were Niniola, Seyi Shey, Becca from Ghana, Patoranking, Teni, Joeboy, Flavour, 9ice and Mr. Real.