Yaw_Oxborn Ghana NewsA copyright bank will soon be established for the Musicians Association of Ghana (MUSIGA) to provide financial assistance and technical support to its members.
This will go a long way to ease the burden of musicians and those in the creative industry who are facing the problem of access of loans from the traditional banking system.
To make this dream a reality, the government has been called upon to commit a seed capital of 10 million Ghana cedis towards the establishment of the bank. This came to light at a workshop organized in Wa, the Upper West Regional capital for musicians, music and film producers, radio presenters and others in the creative industry.
The workshop was organized with sponsorship from the Business Advocacy Account (BUSAC) under the theme: ”Accessing Long term financing in the creative industry.
Addressing participants at the workshop, a member of the Ghana Phonographic Industry (GAPI) Mr Yaw Oxborn said it is high time Government gave the creative industry the attention it deserves since it has the potential of contributing immensely towards the socio-economic development of the country.
He noted that the mainstream music and creative industries employs in excess of 20, 000 people in the informal sector alone but has been neglected by successive governments which hitherto viewed it as an entertainment vehicle instead of major income earner and job creation venture in the socio-economic development of an emerging economy like Ghana.
Mr Oxborn said “In addition to this, there are three CD manufacturing plants, countless number of recording studios and video benches, multi-media printing houses for CD jackets and many more in the country, which employ more than 10,000 people, bringing the total number of people working in the sector to more than 30,000”, he added.
Participants at the workshop lamented on the attitude of feet-dragging in the traditional banks when it comes to giving loans to the creative industry.
This according to him stems from the little or no knowledge of these institutions about the creative industry. Lack of producers, piracy and weak enforcement of copyright laws were identified as challenges facing the industry.
On his part, the Upper West regional President of MUSIGA Mr Hillian Bright told members to protect their intellectual properties and creative works by registering them under the appropriate copyright laws in the country. He cautioned members to be wary of politicians who might want to use them in the upcoming general elections in the country.
BMJ Seidu

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