By Eniola Daniel
Chocolate City, a Nigerian record label and subsidiary of Chocolate City Group has been featured in the Proparco and European Union’s (EU) Study of African Creative Companies.
The new eport titled “Success Stories in the Creative Industries in Africa and Other Emerging Markets highlights Chocolate City Group as one of the success cases in Africa’s growing creative industries.
The report, prepared by PwC Nigeria, Restless Global, and TFCC for Proparco and the EU’s CreatiFI programme, examines twelve African creative enterprises across six countries.
It provides valuable insights into sustainable business practices in the region’s creative sector.
The report identifies key success factors, including longevity, revenue diversification, and the importance of strategic partnerships that preserve local creative control while enabling international market access.
Beyond music, the study also highlights successes in other creative sectors, including Triggerfish Animation from South Africa, Nigeria’s FilmHouse Group, and fashion labels like Ghana’s Christie Brown, which demonstrate the breadth of opportunity across Africa’s creative industries.
According to the report, while investment interest in African creative companies is increasing, successful enterprises like Chocolate City have traditionally relied on self-funding and organic growth, demonstrating remarkable resilience in challenging business environments.
The findings aim to guide investors and entrepreneurs in identifying viable opportunities in the sector and provide a framework for assessing the potential of creative enterprises across the continent.
Founded over two decades ago, Chocolate City has become a key player in Africa’s creative industries, competing effectively alongside global music giants while maintaining its Nigerian identity and roots. Initially known for pioneering hip-hop music in Nigeria with artists like M.I Abaga and Ice Prince, the company has evolved alongside the explosive global growth of Afrobeats.
Today, it represents some of the genre’s most exciting talents, including Blaqbonez, Young Jonn, Tar1q, and Candy Bleakz. The label has also expanded its services to include artistes management for established acts such as Afrobeat legend, Femi Kuti, leveraging its industry expertise beyond its roster of signed artists.
Founder and Executive Vice Chairman of Chocolate City Group, Audu Maikori, said: “The African creative landscape has evolved dramatically over the past two decades. What’s remarkable is how companies like ours have navigated challenges through diversification and strong partnerships to create sustainable business models.”
“We’ve witnessed the industry transform from a fragmented space to an ecosystem with global recognition, where homegrown companies can compete internationally while preserving their cultural authenticity.”
Co-founder and COO of the company, Paul Okeugo, emphasised this strategic approach: “The report confirms what we’ve experienced firsthand; vertical integration and diversified revenue streams are critical in markets where traditional funding is scarce. By developing multiple service lines and revenue channels, we’ve been able to sustain our core music business through challenging periods and invest in nurturing new talent.”
