Africa is witnessing an unprecedented rise in digital entrepreneurship, thanks to the burgeoning creator economy. Valued at US$ 3.08 billion in 2023, it’s projected to soar to US$ 17.84 billion by 2030, with a remarkable compound annual growth rate (CAGR) of 28.5%.
Contributing to this a wide range of digital entrepreneurs – from bloggers and influencers to artists leveraging online social platforms to turn their creativity into lucrative careers.
According to Douglas Kendyson, CEO Selar this economy is growing fast mainly because more people are realising the potential of digital entrepreneurship.
‘’With the rise of the internet and online platforms, it’s become easier for creators to showcase and sell their work globally. Plus, there’s a huge demand for digital content and services, especially with everything going digital these days. So, it’s a perfect storm of opportunity, technology, and demand driving this rapid growth in the creator economy in Africa.’’ he says.
Selar is a leading platform that empowers digital creators by providing them with the tools and resources they need to monetize their knowledge and skills as digital products. Founded in 2016, the company has partnered with companies like PayPal and Stripe to help creators sell digital products. Read our full interview with Douglas below:
You’re building a very interesting product, Selar. Talk to us about it. What does Selar actually do?
Selar is a leading platform that empowers digital creators by providing them with the tools and resources they need to monetize their knowledge and skills as digital products. Selar also allows creators who don’t sell digital products to receive tips and donations from their followers through our “show love” feature. With a focus on education, community, and innovative technology, Selar is at the forefront of driving the creator economy forward.
So, you’re basically an e-commerce platform that helps digital creators in Africa monetize their skills and knowledge as digital products. Is this a space you think has been untapped?
Absolutely! I think there’s still a lot to tap from in the creator economy. There are tons of talented people in Africa who still do not know how they can make money off their skills online and there’s also this belief that you have to be famous and have a lot of followers on social media before you can think of monetisation. That’s where we come in. We make it super easy for creators from all walks of life, who have value to sell their stuff online with no tech headaches involved.
So, to keep it simple, yes, there’s a big opportunity here, and Selar is here to make sure creators can grab it with both hands.
Do you believe the creator economy in Africa has been overlooked?
The creator economy in Africa has definitely been overlooked, especially in terms of creators monetizing their work internationally or receiving payments seamlessly. Not until recently have platforms like Selar provided the tools and opportunities for African creators to thrive in the digital space
The African landscape is witnessing an unprecedented rise in digital entrepreneurship, thanks to the burgeoning creator economy. Valued at US$ 3.08 billion in 2023, it’s projected to soar to US$ 17.84 billion by 2030, with a remarkable compound annual growth rate (CAGR) of 28.5%. Why is growing so fast?
I think It’s growing like wildfire mainly because more people are realising the potential of digital entrepreneurship. With the rise of the internet and online platforms, it’s become easier for creators to showcase and sell their work globally. Plus, there’s a huge demand for digital content and services, especially with everything going digital these days. So, it’s a perfect storm of opportunity, technology, and demand driving this rapid growth in the creator economy in Africa.
How are these creators fuelling this growth?
I think with creators creating engaging content, building communities, and leveraging digital platforms, they’re not just fueling the growth of the creator economy; they’re also driving new trends, shaping industries, and inspiring others to be part of the creator economy.
This phenomenal growth encapsulates a diverse array of digital entrepreneurs – from bloggers and influencers to artists leveraging online platforms to turn their creative endeavors into lucrative careers. How are you helping these creators monetize these platforms?
At Selar, we provide them with all the tools they need to turn their passion into profit. Whether it’s setting up their online store, managing payments securely, or promoting their products to a global audience through our affiliate network, we’ve got their back. We make it super easy for them to monetize their platforms, so they can focus on what they do best: creating awesome content and growing their fan base.
Several factors are driving this digital renaissance across Africa. One being a youthful demographic, with over 60% of the population under 25. What other factors are driving this growth?
Apart from the young and tech-savvy population, I think there’s also increased access to affordable smartphones and the internet, which means more people can afford to be online. Plus, there’s a growing appetite for digital content and services, especially with the convenience they offer.
Last year, you paid over 4 million dollars to African creators. Talk to us about this.
Last year, we paid over ₦4 billion naira (369,467, 200 KES) to creators on our platform – twice what was made in 2022. That’s something we’re really proud of and it goes to just how much potential there is in the digital space for African creators. At Selar, it’s about empowering creators to turn their talents into thriving businesses. We’re all about supporting their growth and success, and this number reflects the impact we’re making in the creator economy in Africa.
How are companies like Selar shaping content creation and monetisation for African creators?
We’re shaping content creation by giving creators the tools they need to shine. Our platforms are easy to use, making it simple for creators to share their talents and connect with their audience.
When it comes to making money, we’ve got their backs too. We offer different ways for creators to earn, like selling digital products, running online courses, or even accepting donations. Additionally, our platform supports affiliate marketing, allowing individuals to partner with creators and earn commissions by promoting products or services to their audience It’s all about empowering them to turn their passions into a paycheck and build sustainable careers online.
What more should we expect to see from you this year?
There’s a lot of talk about AI right now, but it’s a guiding principle for us as a company to not hop on things just because it’s popular, however, we’ve outlined some really interesting and useful product features that leverage AI and we’re very excited for those. We’re also big on partnerships this year, collaborating with different individuals and companies to drive our vision of Africans monetizing their knowledge with ease. It’s going to be a really fun year for us and our creators!
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