Banks Reassess Support for the Creative Arts and Entertainment Industries

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Thursday, September 03, 2019 / 6:00 PM / Nifemi Taiyese for Proshare WebTV / Header Image Credit: Guardian Nigeria  

 

One positive development in Nigeria's quest for deepening its non-oil sector's contribution to the nation's Gross Domestic Product, GDP is the evolution of the Arts and Entertainment Industry.

From the Creative, Arts, Film, Music, and even Fashion, there has been an explosion of ideas and development of an ecosystem that is actively engaging youths (job creation), and redefining Nigeria's narrative in the global creative industry.

Nollywood (Nigeria's movie industry) is among the top 5 global film industries, achieved without government policy intervention.

Corporations realize the importance and value of the Arts and Entertainment industry, and the Financial Services industry has joined in the chase to support the expansion and visibility of the sector.

This article highlights the support, interventions, and various levels of engagements of the Financial Services sector in the Arts and Entertainment Industry.


A carnival with Zenith Bank

Zenith Bank recently hosted a night music festival for specially invited customers; the festival played host to top Nigerian artistes such as Niniola, Rema, Olamide, Phyno, amongst others. The theme of the festival was "Zenith Bank Aspire Music Festival."

The event which attracted music lovers, tourists, and fun-seekers was part of activities lined up to usher in "Style by Zenith 2.0" scheduled to take place in December 2019. 

The Zenith initiative is designed to position arts and entertainment in a unique way to connect with clients and create value. The event, according to the bank, will also help to facilitate the growth of individual retail and SME businesses.

 

Guaranty Trust Bank Annual Fashion Weekend

Guaranty Trust Bank has keyed into promoting the Nigerian Fashion Industry by hosting the annual fashion weekend that brings together a vaierty of stakeholders in the business. 

It has served as a platform to connect Nigerian fashion designers with the rest of the world and has also deepened the prospects of building a vibrant local fashion industry.

 

UBA Marketplace

The United Bank for Africa as part of its passion for the development of the Nigerian creative industry, hosted a discourse earlier in the year that explored "Stars and Suits: Afropop meets High Finance" with Mr. Kennedy Uzoka, UBA GMD, and music artiste Wizkid. 

It focused on the relationship between music and finance, with Wizkid appointed as the brand ambassador of UBA. 

The recognition further buttressed the collaboration between the creative industry and financial institutions. 

UBA is poised to do more in the area of supporting the growth and development of the Arts and Entertainment industry in Nigeria.

 

EcobankPay promotes African Culture through Theatre; Partners Terrakulture

Ecobank, in partnership with Terrakulture, agreed a partnership earlier in the year to promote African arts and culture through theatre productions during festive seasons. The essence of the partnership was to create jobs, facilitate trade and sensitize people to watch plays that will provide information on the nation's rich and varied cultures.

TerraKulture said Ecobank is a bank that promotes the Pan African image, and that is what they want to identify with to advance the Nigerian narrative and improve quality of life of Nigerians.

Ecobank has restated its commitment to assisting the Nigerian film and creative industry, to achieve scale and competitiveness globally. 

At the movie premiere of Bling Lagosians with the dress theme "Eko for Show," Ecobank gave N5 million to the best-dressed person that amplified the Lagos cultural attire.


Access Bank Creative Arts and Entertainment Village In Ogun

Given the need to provide an enabling infrastructure for the development of the Creative Arts and Entertainment Industry in Nigeria, Access Bank is set to establish a built-to-purpose village in Ogun State.

The Group Managing Director of Access Bank, Mr. Herbert Wigwe, believes that setting up the village will help support a sector that can create two to three million jobs annually, thereby reducing unemployment in the country.

When completed, the Access Bank Creative Arts Village will be one of the biggest projects and interventions in the industry since the nation's independence in 1960.

It will help to address issues like the location for movie production, capacity building for practitioners, and deepening the ecosystem of the Arts and Entertainment industry in Nigeria.


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