Unity Bank Plc has advocated more investment in the creative industry to drive its contribution to the economy.
Its Head, Personal & SME, Opeyemi Ojesina, make this known in Lagos at a panel to explore financing options for the music industry at the just concluded Social Media Week.
Highlighting impediments to flow of credits and investment, he stated that the music industry with the involvement of stakeholders in financial services sector needs a deliberate action plan to boost investment that will grow opportunities for entrepreneurs in the sector.
“To attract the required funding in the music industry, all the stakeholders involved must be deliberate about it. But most importantly, the people in the industry must begin to understand the business of their craft and build the necessary structure that would enable financial institutions to make an informed investment decision,’’ Ojesina said.
Also, Head of Digital, Events & Sponsorships, Bashir Salami, said the bank will explore several financing strategies to support musicians and grow the industry.
He added: “Before the Central Bank of Nigeria (CBN) came out with the Creative Funding Initiative (CFI), the bank has supported a number of artistes to promote initiatives and projects that resonates with corporate objective of the bank,” citing the endorsement deal with Adekunle Gold in 2018 as the most significant project to enhance the bank’s contribution to the growth of the music industry.
The session was hosted by Beat FM, in partnership with Unity Bank Plc. Entitled: “Financing the music”, it had in attendance hundreds of musicians and creative industry entrepreneurs