Richard Mofe-Damijo, the veteran Nollywood actor better known as RMD, says Nigeria’s creative industry needs better funding, stronger intellectual property (IP) protection and reliable distribution networks to create lasting wealth.
Speaking at the opening ceremony of the 2026 CANEX WKND, the film star said Africa was not doing enough to turn its creative talent and cultural influence into economic gains.
He cited the United States, South Korea and India as examples of countries that have used entertainment to promote their cultures, attract investment and create business opportunities.
According to RMD, Africa must go beyond producing creative talent. He said the continent needs strong industries that can generate wealth and provide long-term opportunities for creatives.
“Our creativity has become part of our everyday lives. Africa is already influencing the world. But let me ask you a question: how much of the wealth created by this influence do we keep here in Africa? For generations, we have measured our wealth by what rises beneath our soil: oil, gas and gold. Yet some of our greatest wealth lies in our imagination; our stories, music and culture. How do we turn that cultural wealth into capital?” he said.
RMD cites Hollywood, South Korea as examples
The actor noted that Hollywood had helped shape the American dream, while South Korea had used music and television to promote its language, fashion, food and tourism.
He also pointed to Indian cinema as an example of how entertainment can take a country’s stories and traditions to international audiences.
RMD said Africa’s creative industries, including Afrobeats, Nollywood, fashion, literature and visual arts, were gaining global attention. However, he warned that recognition did not automatically translate into financial benefits for local creatives.
“I’ve spent much of my life seeing what determination, talent and imagination can achieve, even with limited resources. Talent can open doors but takes investment and strong institutions to keep those doors open.
“We need better access to finance, stronger protection for intellectual property, reliable distribution networks and businesses that can grow beyond individual success stories.
“We must move from simply producing creative talent to building industries that create lasting wealth. And we must do this together.”
Actor urges investors, policymakers to support creatives
RMD urged investors to provide funding for businesses behind creative talent. He also called on policymakers to create an environment that allows the sector to grow.
The actor encouraged creatives to protect their work, build partnerships and prioritise ownership.
He said Africa must ensure that its growing cultural influence translates into investment, jobs and business opportunities.
“The future of African creativity is not just about being seen and heard around the world. It is about owning what we create and benefiting from the value it generates.
“That is how we turn culture into capital, and that is how Africa must turn its growing soft power into lasting economic wealth. Africa has given the world extraordinary creativity. Now, we must build the economic power to match it.”
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