Experiential Value
Experiences Are The New Currency: An African Perspective
By Dr. Supriya Sharma
In the world where we have mastered the act of being grateful for waking up in sound state every morning, experiences are becoming more valuable than material possessions, shaping how people interact, spend, and perceive value. Across Africa, a continent brimming with culture, history, and traditions, this shift is particularly evident as it has now met the realisation which had always existed yet didn’ t surface substantially; for Africa isn’ t just a continent, but a feeling. From tourism to entrepreneurship, the experiencedriven economy is redefining success, influencing industries, and fostering socio-economic growth.
Africa’ s dynamic markets are embracing experiential value, driven by a young, tech-savvy population and a deep appreciation for storytelling and community. Unlike conventional economies that prioritize tangible goods, today’ s African consumers are investing in meaningful experiences that are sustainable- whether through travel, festivals, immersive digital interactions, or cultural events. With this, experiences now matter more than ever. And here’ s why.
Cultural Heritage and Identity: Africa is home to diverse cultures, traditions, and histories. Consumers increasingly seek experiences that celebrate and reconnect them with their roots, from heritage tours in Ghana to Maasai-led safaris in Kenya, they reflect reality.
Social Currency: In a digital age, people go for stuff they can share. Social media has amplified the power of unique African experiences, whether it’ s attending Afrochella in Ghana or exploring the Great Migration in Tanzania.
26 MAL65 / 25 ISSUE
Economic Transformation: The rise of Africa’ s experience economy has opened new opportunities in tourism, entertainment, wellness, and hospitality, attracting global and local investment. The bustling Lagosian centre is apt evidence of the economic potential of the continent as it meets the world.
Sustainability and Conscious Consumption: More Africans are prioritizing United Nations’ SDGs, opting for sustainable tourism, eco-friendly retreats, and community-driven initiatives, reinforcing the value of experiences over mass consumerism.
The key industries driving this shift, like in major parts of the world include travel and tourism, music and festivals, digital experiences, plus fashion and lifestyle. With its stunning landscapes, nature’ s bounty, and cultural depth, Africa’ s tourism sector thrives on experiential offerings. Countries like Rwanda have pioneered sustainable gorilla trekking, while South Africa’ s wine regions offer immersive tastings that blend history with modern luxury. Speak of the African music festivals of the likes of AfroNation, Lake of Stars, and Cape Town Jazz Festival, they attract thousands, blending entertainment with cultural pride. Moreover, the global acceptance and rise of Afrobeats has also fuelled international demand for African concert experiences. In fact, virtual tourism, fintech solutions, and e-learning platforms are providing access to transformative experiences beyond physical boundaries. Not to miss, the fashion weeks in Lagos, Johannesburg, and Dakar are hardly about clothing but immersively heartfelt cultural storytelling, identity, and heritage. African brands are using fashion as an experiential art form that connects deeply with consumers.
It, hence, makes absolute sense for entrepreneurs and business owners to leverage the opportunity to not just attain competitive advantage but to leave a trail on the sands of time while becoming immortal. Businesses from all sectors can create immersive cultural, culinary, or adventure experiences that showcase the continent’ s uniqueness while using storytelling as a strategy to engage stakeholders. It can be assured that brands that tell compelling African stories through their products and services would build stronger emotional connections with customers in the long run. For doing so, latest trends in technology can be harnessed- from augmented reality travel to NFT-based digital art, tech innovations have demonstrated their ability to reshape how people engage with African culture. With the right intent in place, if businesses focus on community centric experiences that engrain a sense of belonging, such as co-working spaces, cultural hubs, or art collectives, their probability of being able to be in resonance with modern consumers gets enhanced multi-fold.
As Africa’ s economies evolve, experiences continue to emerge as the new currency of value and influence. Consumers are prioritizing sustainably meaningful, memorable, and shareable moments over mere material ownership. Businesses who understand and tap into this shift will drive innovation, cultural preservation, and omni-directional economic growth. The future belongs to those who create experiences that inspire, connect, and transform lives because at the end, we are all humans first.
Dr. Supriya Sharma is a business alchemist, a keynote speaker of global repute, author of 14 books, ESG oriented start-up investor, and host of CX... Oh! podcast. She is committed to driving youth empowerment programs and finds rejuvenation in golfing and shooting. You can commune with her via email at: Sss. Mach7 @ gmail. com.