Tuesday, 20 October 2015

The Emergence Of A Creative Industry & The Begining Of A Viable Business Sector In Africa

Socioeconomic development is generally a deliberate attempt to direct the trajectory that a society progresses for the attainment of economic prosperity. This is generally executed with a development tool kit guided by a viable public policy blueprint. Development especially in third world countries has been seen as the construction of public infrastructure (roads, schools, hospitals bridges etc) for the longest. This is a fallacy and we need a shift in paradigm for an accelerated and sustained economic growth. 

Socioeconomic development has shifted significantly from the tangibles to the abstract particularly in the area of intellectual property rights especially in the sphere of the creative industry (Music, illustrative art and the performing arts). Going by our demographic distribution, we boast of a society that constitute a vibrant youth population whose biggest ailment is unemployment. This malaise can be ameliorated if public policy practitioners understand this demographic segment and their needs. I spent my Saturday morning on SoundCloud listening to "Gambian Music" and I realized a disconnect between public policy initiatives and our creative industry. We need to look at the creative industry as a means to prevent poverty and create gainful employment; and if the government subscribe to this notion, then public policy practitioners should should design policy to attain the set objectives. There are developing societies who are raking the economic dividends inherent in having a youth population. Nigeria and Jamaica are shining examples. The creative industry has become a staple export for these countries and consequently an avenue to boost employment and prevent the incidence of poverty. We need to understand the societal needs in order to cater for them. A structured creative industry with fiscal concessions and inducements can add value to the macro economic environment both in terms of revenue receipts for the exchequer and individual development of participants in the sector. Exports are not only in the form of commodities. We can also export intangibles. Public policy has to be dynamic and responsive to shifts and detours in societal needs. Welcome to 2015 Africa where the youths are expressing themselves creatively and this expression has to be monetized.

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