Idris Elba's Ambitious Plan to Transform Africa's Entertainment Industry

Idris Elba, the acclaimed British actor known for his iconic roles in "The Wire" and "Luther," is setting his sights on a new challenge – revolutionizing the entertainment industry in Africa. With a vision that spans thousands of miles, Elba is determined to build film studios across the continent, starting with Zanzibar, Tanzania, in a move that could pave the way for a global entertainment hub.

Unlocking Africa's Creative Potential

Bridging the Representation Gap

Elba believes that Africa's creative sector is significantly underrepresented on the global stage. "Much of the imagery about Africa isn't even generated from Africa," he told CNN. "A lot of media is centered around (negative depictions of Africa). But the median age in Africa is 19; these young people are optimistic and deserve the chance to tell their own stories." By establishing film studios across the continent, Elba aims to empower African storytellers and provide them with the platform to share their unique perspectives with the world.

Tapping into a Lucrative Market

The potential for growth in Africa's creative economy is staggering. Though the continent comprises 18% of the world's population, it accounts for only 1% of the global creative economy – a sector that Goldman Sachs expects to double in the next five years. A recent UNESCO report suggests that Africa's film and audiovisual industry could create 20 million jobs and add billion to the continent's GDP by 2030. Elba's ambitious plan to build film studios could be the catalyst that unlocks this untapped potential.

Learning from Global Successes

Elba sees parallels between his vision for Africa's entertainment industry and the explosive growth of South Korea's K-pop phenomenon. From 2017 to 2021, Korean pop-culture-related exports grew at an average annual rate of 13.7%, 2.5 times faster than overall export growth. Korea's Economic Research Institute estimates this contributed billion to the economy. By drawing inspiration from these success stories, Elba hopes to replicate a similar trajectory for Africa's creative sector.

Overcoming Challenges

Elba acknowledges that building studios alone won't be enough to spark an entertainment revolution in Africa. Challenges such as limited regulation, investment, and financial infrastructure must be addressed. "It's all been a puzzle," he said, referring to the complexities of structuring a new industry. One critical piece is how to ensure that creators are properly compensated in countries with limited banking infrastructure.

Pioneering Digital Solutions

To tackle the payment issue, Elba has partnered with Stellar, a blockchain-based platform, to introduce Akuna Wallet – a digital wallet designed specifically for the creative economy. Akuna Wallet allows artists, filmmakers, and musicians to manage payments and royalties without relying on traditional banks, enabling peer-to-peer transactions in digital currencies. This innovative solution aims to provide a secure payment system in regions with limited financial infrastructure, potentially bringing more financial inclusion to the industry.

Fostering Collaboration and Support

Elba's vision extends beyond just building studios; he is also working to foster collaboration and support within the African entertainment ecosystem. For instance, Tanzania has partnered with South Korea to send African actors for training in Busan, demonstrating a willingness to learn from global best practices. As Elba continues to navigate the complexities of establishing a new industry, he remains optimistic that with the right partnerships and government support, Africa's creative potential can be unleashed.