Africa
THE Chairman of the Nigerian Exchange Group, Umaru Kwairanga, has urged stronger financing structures for Africa’s expanding creative and technology sectors.
Kwairanga made the appeal on Friday at the Africa Soft Power Summit holding in Nairobi.
In a statement issued to the News Agency of Nigeria (NAN), he stressed the need for institutional backing to unlock Africa’s creative economy’s full economic potential.
The summit, which began on Wednesday, is expected to conclude on Saturday, bringing together policymakers, investors, creatives and technology stakeholders.
Kwairanga said African financial institutions and capital market operators must begin treating creative and technology sectors as viable investment asset classes.
He warned against reducing Africa’s booming cultural industries to “mere cultural side notes” in spite of their growing global influence and economic significance.
According to him, Africa’s expanding footprint in music, film, arts and technology presents enormous opportunities for sustainable wealth creation and investment growth.
He noted that African creativity was increasingly attracting international attention, while capital markets across Sub-Saharan Africa were simultaneously witnessing renewed momentum.
“Today we are asking what it takes to move Africa’s creative, technological and cultural influence from visibility to ownership.
“We must move from global attention to durable economic value that benefits African entrepreneurs, investors and economies,” he said.
Kwairanga explained that capital markets existed primarily to connect investors with viable opportunities capable of generating long-term value and economic development.
He described Africa’s creative economy as one of the continent’s “hidden gems” requiring improved financing systems, monetisation frameworks and stronger value-chain development.
The NGX Group chairman questioned whether internationally celebrated African artistes were fully benefitting from the enormous revenues generated by their global popularity.
He specifically mentioned Tyla, Burna Boy and Diamond Platnumz as examples.
Kwairanga raised concerns about whether branding rights, copyrights, ticketing proceeds and concert revenues were properly structured to maximise African ownership.
He also questioned whether workers supporting Africa’s film industries were receiving fair financial rewards for their contributions and labour.
According to him, thousands of professionals operating behind the scenes in Nollywood and East Africa’s movie industry remained inadequately compensated.
Kwairanga further urged stakeholders to replicate the achievements of Safaricom across Africa’s growing technology hubs.
He said stronger institutional frameworks, funding models and supportive government policies were necessary to nurture innovation and digital enterprise across the continent.
According to him, African capital markets must evolve rapidly alongside emerging industries driven by intellectual property, technology and creative talent.
“At Nigerian Exchange Group, we believe the exchange of the future must connect with creators and technology-driven businesses,” he said.
Kwairanga added that entrepreneurs and innovators shaping Africa’s next phase of economic growth deserved stronger access to funding and investment opportunities. (NAN)
A.I
May 23, 2026
Tags: Burna Boy Diamond Platnumz Nigerian Exchange Group Tyla Umaru Kwairanga