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Oluwafemi Awodele
1 month ago
Overview
The $4.5 Billion Deal That Could Make Africa the Next Hollywood
Recently, Del-York Group, a leading Nigerian conglomerate pioneering developments in Africa’s creative, media, technology, and infrastructure sectors, signed a $4.5 billion joint venture agreement with Singapore’s TSC Global. The investment, which is the largest in Africa’s creative industry, aims to transform Africa’s creative industry, projected to reach $100 billion by 2030 and generate millions of jobs.
Global interest in the sector has surged recently. Major investments, such as Afreximbank’s $2 billion investment in the Creative Africa Nexus and Universal Music Group’s stake in Nigerian-based Mavin Records, demonstrate this growing momentum.
Yet, despite this optimism, significant challenges remain with countries like Nigeria struggling with fragmented infrastructures. Without comprehensive, world-class creative facilities, much of the industry operates in isolation, leaving untapped potential and inconsistent outputs.
