The IFC advocates for recognising creative sectors such as fashion, film, and sports as key drivers of employment and economic growth in developing countries, with targeted investments and policy support to unlock their full potential.
Creative work is increasingly being recast as economic infrastructure, not a luxury. Fashion labels, film studios, sports venues and digital platforms all sit inside longer chains of employment that reach designers, technicians, suppliers, retailers and local businesses. That is the argument the International Finance Corporation is making as it pushes more capital into the sector, which it says generates more than $2.3 trillion in annual revenue worldwide and employs more than 200 million people.
The IFC says the sector is especially important in emerging markets, where access to finance remains thin despite clear growth potential. The lender says nearly half of creative-industry workers are women and that the field can be a major source of jobs for young people. It also points to a wider employment challenge: millions of young people in developing economies are expected to enter the labour market over the next decade without clear prospects.
Fashion is one place where that potential is visible. The IFC says most African fashion businesses are small and often struggle to reach the scale needed to attract investors. In response, it has launched a fashion, beauty and design programme aimed at helping high-potential firms improve production, digital capability, market access and supply-chain management. Designers such as Aisha Ayensu of Christie Brown and Wandia Gichuru of Vivo have argued that local production can create far more jobs than import-led models, while businesses such as Made for A Woman in Madagascar show how growth can ripple through artisan communities.
Film and digital media are being treated in a similar way. The IFC says it has committed up to $75 million to DNEG, the visual-effects company, to expand operations in India and support higher-skilled jobs in animation and post-production. The broader point is that modern screen production depends on software engineers, animators, editors and technical specialists as much as actors and directors. IFC Managing Director Makhtar Diop said digital content investment can strengthen competitiveness and widen opportunities for women in a field where they remain underrepresented.
The creator economy is also drawing attention. The IFC says it invested $5 million in VUZ, an immersive content platform founded by Khaled Zaatarah, to help expand original production and reach more creators in emerging markets. VUZ says it has more than 1.2 million active users each month, with two-thirds in developing economies, and has content partnerships with sports and entertainment organisations. The aim, according to the IFC, is to give young creators better tools to monetise their work and build sustainable businesses.
Sports and entertainment are part of the same strategy. The IFC says Africa’s sports economy is worth $12 billion and could top $20 billion by 2035. It is backing Zaria Group’s plan to develop districts in Kigali and Nairobi that combine arenas, commerce and community spaces rather than building venues in isolation. The Nairobi project is expected to create construction and permanent jobs, while also supporting tourism and small businesses. More broadly, the IFC says creative industries need not only money but also the infrastructure, technical advice and policy support that allow them to grow at scale.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
