The ever-evolving digital landscape calls for a new perspective, one that shifts the focus towards dynamic, customer-centric innovations. At the Mobile World Congress on Thursday, October 19, experts from the fintech and entertainment sectors came together to explore this shift and its potential for collaboration in driving the global economy.

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According to experts, in this new world where mobile connectivity powers connections and intelligence, there are opportunities for delivering novel experiences and building communities around compelling content. Yet, achieving these goals is not a solitary endeavour; it demands collaboration.

The question is, are we entering an era where success hinges on the partners we choose?

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Empowering African storytellers

Derrick Ashong, CEO and Founder of Take Back the Media (TBTM), sheds light on the pressing need for African voices in the global narrative. "While Africa boasts rich cultural heritage, it often struggles to convey its stories effectively. The lack of adequate infrastructure and investment impedes the continent’s ability to share its tales with the world,” he said.

Ashong believes that it’s high time for Africans to tell their stories at the highest level. Culture, he argued, is a cornerstone that shapes our values and influences society’s trajectory. Acknowledging culture’s fundamental role, he stressed the urgency of re-evaluating our engagement with it.

"As the youngest and fastest-growing continent, Africa’s future is undeniably bright.” Ashong’s belief in nurturing local talent is the driving force behind his return to the continent. He envisions that future Spielberg’s, Spike Lee’s, and Oprah Winfrey’s have already been born in Africa, but their success depends on whether they receive the tools and opportunities to shine.

To this end, Ashong has founded the blockchain-based TBTM entertainment platform, which rewards both creators and fans with a digital token called Kola. Through strategic partnerships with industry giants like Mastercard and MTN, Kola aims to extend banking services to the unbanked and most importantly empower African creators.

The digital disruption of entertainment

Sipho Dlamini, President of Africa and Middle East at gamma, a creative and business firm offering services across all artistic and commercial touch points, from content creation and distribution, to creative guidance, innovative payment solutions, and more, highlighted the transformative impact of digital disruption on the entertainment landscape.

"The term ‘creative content’ encompasses a vast array of media, from TV shows and movies to podcasts, Instagram reels, and TikTok videos. Digital innovation has not only revolutionised the entertainment industry but has also inadvertently spelled doom for some traditional businesses,” he said.

Dlamini cites the advent of social media platforms like Facebook, Twitter, Instagram, and TikTok, emphasising their role in reshaping how content creators and distributors interact with their audiences. "In a world where TV and radio advertising remains effective but costly, social media offers a cost-effective alternative for marketing and communication. Furthermore, it has become a vital channel for disseminating news and updates, captivating audiences across the globe.

"To thrive in the tech-driven world, staying at the forefront of curbing digital disruption is essential. Businesses must embrace innovation and adapt to changing consumer preferences,” he said.

The power of collaboration

Ekele Kanu, Head of Mobile Network Operators Partnerships and Vice President of Europe, Middle East, and Africa at MasterCard, stressed the significance of collaboration as a driving force for digital transformation. By working closely with content creators, telcos, digital retailers, and fintech companies, MasterCard aims to deliver priceless experiences to users.

"In this era, collaboration equates to partnership.” Kanu underscored the need to engage with businesses of all sizes, viewing no one as too small. He emphasised the creation of partnerships for start-ups. But what’s preventing us from fully embracing this digital mind-set?”

According to Kanu, it’s the transition from the old paradigm, rooted in profit-centric thinking, to the new paradigm focused on making ideas priceless. The emphasis shifts from pure revenue generation to curating ideas that hold immeasurable value for consumers and all stakeholders. Financial models are evolving to support this shift, ensuring that the new paradigm thrives.