Lagos: 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.
According to News Agency of Nigeria, the report, prepared by PwC Nigeria, Restless Global, and TFCC, provides insights into sustainable business practices in the region’s creative sector. It identified key success factors such as longevity, revenue diversification, and strategic partnerships that preserve local creative control while enabling international market access. These findings aim to guide investors and entrepreneurs in identifying viable opportunities in the sector and offer a framework for assessing the potential of creative enterprises across the continent.
Audu Maikori, Founder and Executive Vice Chairman of Chocolate City Group, highlighted that the company has navigated challenges through diversification and strong partnerships to create sustainable models. He remarked on the evolution of the African creative landscape over the past two decades, noting the industry’s transformation from a fragmented space to an ecosystem with global recognition, where homegrown companies can compete internationally while preserving their cultural authenticity.
Paul Okeugo, Co-founder of Chocolate City Group, stated that the report confirmed the company’s firsthand experiences, emphasizing that vertical integration and diversified revenue streams are critical in markets where traditional funding is scarce. By developing multiple service lines and revenue channels, the company has sustained its core music business through challenging periods and invested in nurturing new talent.
The study further highlighted successes beyond music, including Nigeria’s FilmHouse Group and fashion labels like Ghana’s Christie Brown, demonstrating the breadth of opportunity across Africa’s creative industries. It also indicated that while investment interest in African creative companies is increasing, successful enterprises like Chocolate City have traditionally relied on self-funding and organic growth, showing remarkable resilience in challenging business environments.
Founded over two decades ago, Chocolate City was initially known for pioneering hip-hop music in Nigeria with artists like M.I Abaga and Ice Prince. It has since evolved alongside the explosive global growth of Afrobeats.