By Ovwe Medeme
The Minister of Art, Culture, Tourism and the Creative Economy, Barrister Hannatu Musa Musawa, has said that her ministry is taking deliberate steps to champion IP-backed financing as a core strategy for sectoral development. According to her, through the Creative Economy Development Fund, the CEDF, she is working with financial institutions to recognise IP as bankable collateral, supporting IP registration and valuation frameworks to make the process accessible and credible and easing access to the finance and sector needs.
鈥淎s a creative who has diligently climbed the ladder through my own artistic journey, I understand firsthand how difficult it is for creators to access funding and opportunities. That is why I believe that this conversation is not only timely, but is absolutely necessary,鈥 she said.
According to her, the African Creative Sector is not just an industry, it is a powerful engine of innovation, identity and economic growth. From music and fashion to film, literature, gaming and digital art,
鈥淚n other parts of the world, IP is already considered a bankable asset. Here in Africa, we are now stepping into that same possibility.
Imagine a young filmmaker securing funding not by putting up land or vehicles, but by leveraging the value of their screenplay or film. Imagine a fashion entrepreneur being able to get a business loan based on their registered designs. That future is within reach, and it starts on how we use and value creativity,鈥 she stated.
She revealed that the Creative Economy ministry is building cross-sector partnerships with the private sector, with development institutions and financial institutions to unlock this new frontier of creative capital.
鈥淭ogether, by making IP a core part of our economic architecture, we can unlock new sources of financing for creators, boost entrepreneurship innovation and create jobs and inclusive economic growth across the whole continent.
鈥淭he message is simple. African creativity is valuable. Let鈥檚 recognise it. Let鈥檚 protect it and let鈥檚 invest in it. The ministry is committed to this journey and we invite all stakeholders from banks to tech platforms, from artists to investors to join us in building a future where African creativity is not just celebrated, but also funded and scaled,鈥 Musawa noted.