* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Best “Friends” Halloween Episodes That Blend Spooky And Silly In The Perfect Way – Yahoo

    The Best “Friends” Halloween Episodes That Blend Spooky And Silly In The Perfect Way – Yahoo

    MSG Entertainment Takes Radio City Music Hall Into the Future With Introduction of Sphere Immersive Sound – Business Wire

    MSG Entertainment Transforms Radio City Music Hall with Cutting-Edge Sphere Immersive Sound Experience

    Israel’s Entertainment Industry Is Being Targeted by the Left in Hollywood and the Right at Home – The Wall Street Journal

    Inside the Fierce Clash Shaping Israel’s Entertainment Industry: Hollywood vs. Local Voices

    Offset Is Ready To Finalize Divorce With Cardi B for a Major Reason – Yahoo

    Offset Poised to Finalize Divorce from Cardi B for a Major Reason

    Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

    Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    China outlines more controls on exports of rare earths and technology – fox40.com

    China Unveils Tougher Restrictions on Rare Earth and Technology Exports

    Wisconsin Dairy Leads the Way with Cutting-Edge Technology Systems

    ENERCON and Biome collaborate for wind turbine noise reduction technology – Yahoo Finance

    ENERCON and Biome Join Forces to Revolutionize Wind Turbine Noise Reduction

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Best “Friends” Halloween Episodes That Blend Spooky And Silly In The Perfect Way – Yahoo

    The Best “Friends” Halloween Episodes That Blend Spooky And Silly In The Perfect Way – Yahoo

    MSG Entertainment Takes Radio City Music Hall Into the Future With Introduction of Sphere Immersive Sound – Business Wire

    MSG Entertainment Transforms Radio City Music Hall with Cutting-Edge Sphere Immersive Sound Experience

    Israel’s Entertainment Industry Is Being Targeted by the Left in Hollywood and the Right at Home – The Wall Street Journal

    Inside the Fierce Clash Shaping Israel’s Entertainment Industry: Hollywood vs. Local Voices

    Offset Is Ready To Finalize Divorce With Cardi B for a Major Reason – Yahoo

    Offset Poised to Finalize Divorce from Cardi B for a Major Reason

    Beyond the Stage: 8 Performing Arts Centers Driving Entertainment and Education – Livability.com

    Beyond the Stage: 8 Performing Arts Centers Transforming Entertainment and Education

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    China outlines more controls on exports of rare earths and technology – fox40.com

    China Unveils Tougher Restrictions on Rare Earth and Technology Exports

    Wisconsin Dairy Leads the Way with Cutting-Edge Technology Systems

    ENERCON and Biome collaborate for wind turbine noise reduction technology – Yahoo Finance

    ENERCON and Biome Join Forces to Revolutionize Wind Turbine Noise Reduction

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    US and investors gambling on unproven nuclear technology, warn experts – Financial Times

    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Creative industry stakeholders tackle funding, regulatory issue at ATIF 2024 summit

February 2, 2024
in Business
Creative industry stakeholders tackle funding, regulatory issue at ATIF 2024 summit
Share on FacebookShare on Twitter

BusinessDay Media recently hosted the inaugural ‘Africa Trade and Investment Summit’ in Lagosdrawing together key stakeholders and policy facilitators from the creative industry who spoke on impactful regulations and policies, particularly in the context of funding, to spur the growth of the creative industry in Nigeria and across Africa.

The panel, session tagged ‘Creative Economy and The African continent’ led by Nneka Okekearu of the Enterprise Development Center, LBS, saw the panelist Stella Okotete, Executive Director Business Development Nigeria Export Import (Nexim) Bank, Audu Maikori. CEO Chocolate City, Imal Silva Artist, Creative Economy Policy & Investment consultant and Kalilou Troure Ambassador of Côte d’Ivoire’s to Nigeria.

Read also: Creative industry key to Nigeria’s economic growth- AsiriComedy

Stella Okotete on the issue of funding said that the risks are so high that when taking a further look at these creative businesses, they end up reducing the loan amount or not giving them the loan at all.

“The creative sector is still at its ripe stage for funding. This is because a bank will only fund a bankable business. The creatives have ideas but they don’t put it into a business plan that is bankable,” Okotete said.

Okotete said that what is expected by the banks is for players to look at collaboration and capacity building and developing the right bankable business ideas to enable support.

“As a trade facilitation bank of the government what Nexum Bank is doing is to talk and work with other policy makers like the CBN to see how we can capture export of services into our own position as a country and it requires patriotism from the players in the creative sector,” Okotete said.

Given examples of movie producers who get funding from companies like Netflix to fund their films Okotete said that when receiving funds from international companies it’s observed that the people receiving the fund rather open domiciliary accounts to receive these funding rather than have export proceeds accounts.

“Whatever they do, because we are a wholesale bank with a defined mandate on export we can’t fund you because all your transactions have been informal as far as we are concerned. What formalises your export is the receipt of your export proceeds and if it’s not captured as a proceed but rather as an inflow, we can not do anything but get you to formalise it,” She said.

Its for this reason Nexim Bank is working with the CBN and trying to work with the private sector to see how they can have an E-commerce data platform which she called ‘Naija Baba’ which is almost like a replica of ‘Ali Baba’ platform where the creative sector revenue can be captured in a pool of funds as proceed.

Audu Maikori who was virtually present during the panel says that banks should be able to understand that the model of collaterals and funding has shifted and there is the need to shift to Intellectual Property and catalogue valuation using track record to benchmark a fair gamble in terms of investing in the said business.

Read also: Nigerian creative industry welcomes new filmmakers

Maikori using his company as a personal example said Chocolate city had received funding from outside investors and there was no need for physical collateral but rather a proven track record of the companies IP which led to the firm being comfortable t investing in his company. He encouraged banks to join the trend of investing in online intellectual property creatively. Not following this trend may lead creatives to continue partnering with foreign companies, which would only benefit banks in other countries.

Maikori complained about a weak IP protection system as one of the main challenges. “For Africa to take its place and lead in the creative sector, there is a need for proper intellectual property protection and enforcement,”Maikori said.

He said even though the creative works are getting international audiences, he questions how well the intellectual properties are being monetized.

Imal Silva said a lot of ideas about the creative industry are still subjective in the minds of people which makes it difficult for a lot of investors to take chances or risk.

Silva said “People go to acquire technical skills in different areas of the creative sector like theatre, film, textile , art, and advertising, in the universities and they add their talents to it but hardly do we address the business knowledge around those technical skills.”

Silva said the most important innovative approaches to scaling the industry is to benchmark the industry with what happens in the UK and US as they are clearly ahead of Africa in terms of sustaining a mix economy approach where there is a clear collaboration between the government and the private sector in the industry.

On how collaborations can be more effective, Maikori said there is not enough lobbying to talk to representatives and key policy makers. He said the young people need to be engaged and there should be better training for people as well as the judiciary setting up specialised courts for matters affecting intellectual property efficiently and timely.

“With an influx of international companies coming into Nigeria, there needs to be a level of regulation to make sure there is no second recolonisation of our intellectual property which is worse than the physical one because intellectual property lasts forever,” Maikori said.

Okotete said supporting the creative industry fits into the Nexim’s core mandate. According to her, the creative industry falls under the category of ‘Services’ which is one of the four cardinal points for Nexim Bank’s investments. She said the bank is taxed with providing single digits funding lines to support players within the creative industry value chain.

According to her, funding has been given to a movie production company, as well as textile and leather refineries in Kano State. Another example she gave is the Women and Youth Export Development Facility which is also on single digit funding.

Read also: Piracy, others hindering creative industry growth

Looking at measure Cote d’ivoire has embarked on to foster the creative economy in the country, Kalilou Troure Ambassador of Côte d’Ivoire’s to Nigeria said that the country does not export a lot of creative services at the moment though the country boast of high export numbers in other sectors like Agriculture, and digital economy.

Ambassador Troure said that for Côte d’Ivoire, there is to learn from Nigeria in music and movies and there are talks to develop a partnership with Nigeria. “In the general framework of facilitation of the cross border trade which is in the framework of ECOWAS one of the things that will benefit the creative industry is that we have free movement of people which will develop training and movement of talents.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/life-arts/article/creative-industry-stakeholders-tackle-funding-regulatory-issue-at-atif-2024-summit/

Tags: businesscreativeIndustry
Previous Post

AFCON 2023 Quarter-Finals: Daily Prizes from PariPesa and TOP Betting Tips

Next Post

Plateau North braces for political showdown as suspense peaks tomorrow’s bye-election

High Five: The rest of the world’s top upcoming qualifiers – The New York Times

October 10, 2025
Donald Trump’s fortress economy is starting to hurt America – The Economist

How Donald Trump’s Fortress Economy Is Starting to Hurt America

October 10, 2025
The Best “Friends” Halloween Episodes That Blend Spooky And Silly In The Perfect Way – Yahoo

The Best “Friends” Halloween Episodes That Blend Spooky And Silly In The Perfect Way – Yahoo

October 10, 2025
Board of Health Meeting – City of Somerville (.gov)

Inside the Latest Somerville Board of Health Meeting: Key Updates and Decisions

October 10, 2025
The Politics Hour: Why a candidate’s text messages are shaking up Virginia’s elections – WAMU

How a Candidate’s Text Messages Are Shaking Up Virginia’s Elections

October 10, 2025
Climate Change Poses ‘Ecological Trap’ for Species Struggling to Adapt – Bioengineer.org

Climate Change Creates a Dangerous Ecological Trap for Struggling Species

October 10, 2025
Science and the heart: Remembering Jane Goodall – American Animal Hospital Association – AAHA

Unlocking the Heart’s Secrets: Celebrating Jane Goodall’s Enduring Legacy

October 10, 2025
Young trucker couple embraces flatbed trucking, balanced lifestyle – Truck News

Young trucker couple embraces flatbed trucking, balanced lifestyle – Truck News

October 10, 2025
China outlines more controls on exports of rare earths and technology – fox40.com

China Unveils Tougher Restrictions on Rare Earth and Technology Exports

October 10, 2025
Midway’s Tate Mason named Week 7 WVLT Sports/5Star Preps Player of the Week – WVLT

Midway’s Tate Mason named Week 7 WVLT Sports/5Star Preps Player of the Week – WVLT

October 9, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (860)
  • Economy (881)
  • Entertainment (21,754)
  • General (17,511)
  • Health (9,923)
  • Lifestyle (893)
  • News (22,149)
  • People (881)
  • Politics (891)
  • Science (16,091)
  • Sports (21,381)
  • Technology (15,861)
  • World (864)

Recent News

High Five: The rest of the world’s top upcoming qualifiers – The New York Times

October 10, 2025
Donald Trump’s fortress economy is starting to hurt America – The Economist

How Donald Trump’s Fortress Economy Is Starting to Hurt America

October 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version