Investing in Women-led Creative Enterprises in Africa

A report by the Boston Consulting Group (BCG) stresses the need for investment in women-led creative enterprises to enhance job creation and economic growth across Africa. The creative industry is currently valued at approximately $59 billion, representing only three percent of the global creative sector.

The report identifies four key growth drivers that can reshape Africa's creative economy, including the continent's youthful population, which is nearly 890 million people aged 25 and under. Women play a central role in this sector, comprising 60 percent of Africa's fashion workforce, which alone is valued at $31 billion.

Despite the potential for the creative economy to contribute significantly to GDP and job creation, the report notes a lack of adequate investment, particularly from the African Development Bank, which could help the fashion industry alone contribute $50 billion to GDP and create around 400,000 new jobs in Sub-Saharan Africa.