Banking Beats: Africa’s Music Economy
'Aid to Africa' has been a dominant theme in the media and political arenas for many years. Yet, despite the billions of dollars in development-related aid, many argue that it has done little to reduce poverty or stimulate economic growth. In contrast, the music industry in Africa has grown exponentially over the last decade and has had a direct impact on Africa's economy. African musical acts of varying genres have worldwide recognition, concert attendance numbers are in the tens of thousands, and homegrown music festivals draw a global audience. Examine the growth of the music economy in Africa and the opportunities it presents locally and internationally.
Elizabeth consults with the UNDP’s Special Unit for South-South Cooperation (SU/SSC) Creative Economy for Development Agenda since 2008. Her work with the SU/SSC involves the creative economy and assisting less developed countries tap into their innate creative resources to stimulate socio-economic development as well as highlighting the role the Global South can play in the exchange of creative goods and services. In 2005 Elizabeth organized and hosted the Conference on Development and the East African Music Industry in Dar Es Salaam, Tanzania.
Founder/MD of All Amber, a UK-based company focusing on facilitating the expansion of the mobile industry in Africa. Matthew is a member of the UKTI’s Sub-Saharan Africa Task Force. He’s previously worked in defence technology and at the Commonwealth Telecommunications Organisation. Bred in Essex, England but is actually part Viking.
NGOZI ODITA is founder and Editorial Dir. of Society HAE (SHAE), an online media platform designed to erase geographic boundaries and unite people based on lifestyle and their desire to create/support "art" of various mediums. SHAE's focus is to promote emerging art and culture through digital content and events.
Obi Asika, is the founder and Ceo of Storm 360, one of Nigeria and West Africa's leading entertainment firms.
Obi has led Storm and the Nigerian Music industry to dominate urban contemporary music on the African Continent, a movement which is now loosely termed as Afrobeats and which is now emerging on the global scene. He is particulary interested in how to bring that music and movement to the global market, to have access for our artists (storm's and other's) to festivals, licensing for video games, publishing, movies, soundtracks, etc.
It is time for us to monetize, mobile will be critical to this and of course the advance of technology and the emergence of our music, movies, fashion and merchandise need proper marketing and sales support.
Mr Asika also has served as an executive producer of numerous major tv productions, including The Apprentice Africa, Dragons Den Nigeria, Big Brother Nigeria, his company also creates and produces tv formats such as Naija Sings, Vodafone Icons Ghana, and others.
Mr Asika is a director of Coson, the Nigerian CMO, of Spinlet which is about to launch its mobile music service on the continent, Pana Tv which again is launching an iptv platform and is interested in all things, content, digital, mobile and is focused on moving African content to the global stage and monetising it.