The Chief Executive Officer of Multichoice West Africa, John Ugbe, has said that Africa’s contribution to the global creative economy valued at $2.2 trillion currently stands at 1%.
Ugbe, who stated this in a report highlighting the economic impacts of the Africa Magic Viewers’ Choice Awards (AMVCA), noted that African films possess an irresistible allure that rivals any in the world.
He added that through the AMVCA, Multichoice had constructed an exhilarating platform that celebrates excellence and propels the African film sector to unparalleled heights.
He, however, noted that while the industry is progressing at an impressive rate, more vigour and dynamism need to be applied in optimizing its contribution to the socio-economic life of African countries and their people.
Infinitessimal contribution
While assuring that the AMVCA would remain a key player in the pursuit of creative economic benefits for Africa, Ugbe said:
- “Suffice it to say that Africa only contributes 1% to a global creative economy valued at $2.2 trillion. So while the African creative sector’s contribution to the African economy is substantial, it is infinitesimal on the global scale. Hence, we have the onerous task of shrinking the gap in financial benefits between Africa and the West.”
Addressing challenges facing African movies
Speaking on how the AMVCA is changing the face of movies in Africa, Executive Head of Content and West Africa Channels at MultiChoice, Dr. Busola Tejumola, said Multichoice, before 2013, recognized the immense potential of African films, yet it was saddened that the creativity, talent, and insights within the films were not reaching beyond the shores of our continent.
- “We had a burning desire to showcase the richness of our cultures and talents to the world through our films, and thus the Africa Magic Viewers’ Choice Awards (AMVCA) was born. We believed that by recognizing exceptional works and setting high standards, we could encourage practitioners to strive for excellence and elevate the industry.
- “Although the initial challenge seemed formidable, we remained resolute, fueled by our unwavering vision for the sector’s future.
- “Through nine successful editions, we find solace and inspiration in the fact that our efforts have not only propelled progress but have also elevated our cinema to a global platform,” she said.
Tejumola added that the long-standing distribution challenges that plagued the industry have been substantially resolved through the digital platforms provided by companies like Showmax, Netflix, and Prime Video.
This, she said, has enabled practitioners to maximize the benefits of their industry.
- “We believe there is still a lot to do in the sector. According to UNESCO, African films and audiovisual industries currently generate $5 billion, only a quarter of their true potential of over $20 billion to Africa’s GDP. With consistent promotion and projection of our industry, we are confident that we will surpass this $20 billion mark in the coming years.
- “Therefore, the upcoming years for AMVCA will be dedicated to accelerating the socio-economic impact of the sector, inspiring and nurturing talent, expanding industry exposure, and attracting vital investments,” she said.
