Kenya’s growing creative economy has been identified as one of key sectors that will help in attracting foreign direct investments.
According to Kuramo Capital Management co-Chief Executive Officer Shaka Kariuki, Kenya and Africa’s creative industry has been key in providing a highway for the rest of the world to know about Africa.
“A lot of African music, be it from West or East Africa is being played in western countries and this helps provide avenues for people to know about Africa,” said Kariuki during the Sub-Sahara Africa Day held on the side-lines of the United Nations General Assembly.
Kariuki said the raising of Africa’s profile which has been accelerated by African creatives can help unlock FDIs to sectors such as manufacturing, agriculture, fashion and textile and apparel.
“When it comes to knowledge and talent Kenya is a key market that cannot be overlooked by any serious investor willing to make investments in Africa”
According to the Kenya Investment Authority (KenInvest), the country’s creative economy currently contributes 5pc to the economy and is projected to rise further.
KenInvest CEO John Mwendwa noted that the Kenya’s creative sector continues to grow with limited government intervention backed by stable policies.
“Kenya offers a really robust ecosystem. One is a stable and predictable environment,” he added.
The Sub Sahara Africa Day themed “Africa to the World” focused on tourism, creative services and cultural experiences.
The event brought together partners, investors and entrepreneurs to deliberate on ways to scale businesses, unlock opportunities and drive inclusive growth.
