Microsoft Word - Achieving the promise of african cultural e

Acknowledgements

The team that prepared this paper was led by Ismail Radwan (Lead Economist AFTFP) and included Pierre Strauss (Economist) and Chioma Nwagbosa (Consultant).

Preface

Contents Acknowledgements ............................................................................................................2 Preface ................................................................................................................................2 Executive Summary...........................................................................................................4 Chapter 1 : The youth hold the key to the continent’s future. ......................................5 Youth represents a demographic opportunity for Africa.................................................5 The challenge of making the youth work ........................................................................6 Chapter 2: Creative economy for development ..............................................................8 When culture jibes with economic success .....................................................................8 A surge in exports of creative goods from developing countries ....................................9 African creativity capacities remain unexploited ..........................................................10 Chapter 3: Nollywood today...........................................................................................11 The prolific entertainment industry in Nigeria ..............................................................11 Piracy a scourge of the Nigerian film and music industries ..........................................12 An archaic production, distribution and marketing value chain....................................13 Lack of technical skills, branding and access to financing............................................15 Chapter 4: The irresistible potential of Nollywood ......................................................16 The non oil sector in Nigeria is driving growth ............................................................16 The surge of Nigeria movie production.........................................................................17 Nollywood’s role in Nigerian economy ........................................................................17 Chapter 5: Conclusion and recommendations..............................................................21 Enforce copyright protection and assure law enforcement ...........................................24 Structure the value chain of the movie industry ............................................................25 Provide the industry with direct financing for development .........................................26 Bibliography.....................................................................................................................27

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