Building Sustainable Digital Ventures in Creative Industry

The creative industry has become one of the driving forces of today’s economies. It is reshaping how nations grow, how cultures connect, and how young people express themselves and earn a living. In Kenya, this sector is emerging as a critical pillar of the digital economy. Driven by increasing internet access and smartphone penetration, a new generation of content creators and influencers are fostering entrepreneurship and ushering in a broader economic agenda. Yet, despite this momentum, many creators continue to struggle with monetization. Limited financial literacy, lack of business structure, and restricted access to finance often hinder them from turning online influence into sustainable income streams. Speaking during a webinar session themed “Creative Economy Monetization: A Blueprint for Businesses and Creators”, Erastus Muthura, Absa Bank Kenya’s Head of SMEs emphasized on the transformative potential of content, outlining how Absa is working with content creators to improve monetization. Absa Bank Kenya is addressing this gap by advocating for content monetization by empowering creators to turn their influence into tangible income through business and financial literacy programs. The bank recognizes the creative economy as not only an art form but also a significant economic opportunity that can be developed into sustainable ventures. “This is an opportunity to grow with our clients and the broader ecosystem of the creator economy. It is a segment that creates employment and drives innovation, enabling young people to turn their creativity into opportunities for growth,” said Mr. Muthura. Mr. Muthura noted that one of the challenges that banks face is in consolidating business activities. People in the creative industry often have income coming from different channels and in different forms. He said that this proves to be a challenge when tracking income and credit history. “The bank is responding with initiatives like its Business Club, which offers training and market linkages, and financial products like the multi-currency cards tailored for digital earners and instant loans through Timiza. The more we treat creative work as a business, the easier it becomes for the bank to tailor the right solutions,” added Muthura. The modern creative economy has redefined how value is generated in the digital age. What once relied on traditional advertising through television and radio has shifted toward a landscape powered by creativity, self-expression, and storytelling. Martin Muli, a Digital Marketing Expert, noted that today’s creative economy functions as a dynamic ecosystem where creators act as both storytellers and entrepreneurs. “Today, this economy functions as a dynamic ecosystem where content creators act as both storytellers and entrepreneurs. They use their platforms to express ideas, build communities, and influence audiences, while brands recognize the power of that influence and collaborate with creators to market products and services,” said Martin Muli a Digital Marketing Expert. Sharon Machira, a content creator and influencer, also encouraged her counterparts to embrace the use of rate cards to clearly outline their services and prices for monetization opportunities. “A rate card will set your expectations, professionalize negotiations, and assist brands make informed decisions. The only thing that matters to brands is the value that you are going to deliver as a content creator and the modern tools you will use during marketing,” said Sharon. Technology and social media platforms have democratized access to audiences, allowing digital entrepreneurs to convert influence into currency. This shift has enabled brands to move away from costly mainstream media and advertising, redirecting investments to digital platforms such as YouTube, Instagram, and Substack, spaces that thrive on originality, engagement and authenticity. Sharon further noted that while the digital sector remains largely informal, and characterized by short- term work, it is still a space that prospers on the trade of ideas, and a marketplace where influence holds currency, and storytelling has become the bridge between culture and commerce. Absa Bank stands a tipping point of innovation and opportunity, where every click, view and share can translate into sustainable growth. In unlocking Africa’s creative economy, Absa aims to transform passion into enterprise and influence into income.