Chocolate City named among top African creative enterprises in EU
By Joan Odafe
Nigerian entertainment and creative company, Chocolate City Group, has been spotlighted as one of the leading enterprises in Africa’s growing creative space in a report commissioned by Proparco and the European Union’s CreatiFI programme.
The report, titled, ‘Success Stories in the Creative Industries in Africa and other Emerging Markets’, examined 12 successful African creative enterprises across six countries.
The report, which was prepared by PwC Nigeria, Restless Global and TFCC, also provides insights into sustainable business practices in the region’s creative sector.
The study identified key success factors, including longevity, revenue diversification and the importance of strategic partnerships that preserve local creative control, while enabling international market access.
The findings are aimed at guiding investors and entrepreneurs in identifying viable opportunities in the sector and provide a framework for assessing the potential of creative enterprises across the continent.
Audu Maikori, Founder and Executive Vice Chairman of Chocolate City Group, said the company had navigated challenges through diversification and strong partnerships to create sustainable models.
“The African creative landscape has evolved dramatically over the past two decades.
“We’ve witnessed the industry transform from a fragmented space to an ecosystem with global recognition, where homegrown companies can compete internationally while preserving their cultural authenticity,” he said.
The Co-founder of the group, Paul Okeugo, said the report confirmed firsthand experiences of the company; that vertical integration and diversified revenue streams were critical in markets where traditional funding was scarce.
“By developing multiple service lines and revenue channels, we’ve been able to sustain our core music business through challenging periods and invest in nurturing new talent,” he said.
Beyond music, the study also highlighted successes in other creative sectors, including Nigeria’s FilmHouse Group, and fashion labels like Ghana’s Christie Brown, which demonstrates the breadth of opportunity across Africa’s creative industries.
According to the report, while investment interest in African creative companies is increasing, successful enterprises like Chocolate City have traditionally relied on self-funding and organic growth.
This, it said, demonstrated remarkable resilience in challenging business environments.
Chocolate City, founded over two decades ago, was initially known for pioneering hip-hop music in Nigeria with artistes like M.I Abaga and Ice Prince, but has evolved alongside the explosive global growth of Afrobeats. (NAN)(www.nannews.ng)
Edited by Folasade Adeniran
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