At the historic National Theatre in
Iganmu, Surulere, The Tony Elumelu Foundation (TEF) on Wednesday signed an MOU
with the Federal Ministry of Information and Culture for the development of
Nigeria’s creative industries. The Honourable Minister Alhaji Lai Mohammed and
Tony O. Elumelu, CON signed for their respective organizations.
The partnership will provide a
framework for bringing creative industry stakeholders together with investors,
financiers and business leaders to transform the creativity of industry
entrepreneurs into a profitable sector capable of attracting international
collaboration and contributing consistently to the national economy.
During the signing, the Hon. Minister said, “My Ministry recognises the
urgent need to develop Nigeria’s creative industries and increase its
contribution to the national economy. Nigeria currently has creative industries
but no creative economy. This partnership will leverage the experience of the
private sector to help the creative industries retain the commercial
opportunity and the financial benefits.”
In April, the Minister approached TEF with
a challenge: “How can we work together to help transform the currently
underdeveloped and unstructured creative industry ecosystem into an organized
and profitable pool of creative industries that provide meaningful employment
to thousands of Nigerians?”
The Foundation’s response is the framework
which undergirds the MOU.
While speaking at the event, Chairman of Heirs Holdings and UBA
PlcMr. Tony O. Elumelu, CON said, “Without doubt, Nollywood is a global leader and our young musicians are
emerging as international sensations with serious earning potential.
Nigerians are good at starting creative businesses, but they lack the capacity
to scale, proper business management and the investment necessary to become
self-sustaining. This partnership will provide the framework for building
business capacity and attracting sustainable investment.”
Also speaking at the
event, the CEO of the Foundation, Parminder Vir, OBE, expressed her optimism at
the future of the creative industry in Nigeria. A seasoned filmmaker herself,
Ms. Vir stated, “Nigeria
has an abundance of creative excellence, talent and cultural IP in film,
television, music, fashion, ICT, performing arts and this partnership is
designed to support the growth of this sector for leading businesses,
facilities, entrepreneurs and institutions engaged in the fast growing sector.”
The event was well attended by several industry representatives
including luminaries like Joke Silva, ZebEjiro, Obi Asika, Ali Baba, D’Banj,
Chioma Ude, Nimi Akinkugbe RalphNwadike, Audu Maikori, Princess Dolapo Oni
Sijuwade and more.
About The Tony Elumelu Foundation
Established in
2010, The Tony Elumelu Foundation (TEF) is the leading philanthropic
organisation in Africa with the aim of promoting entrepreneurship as the
catalyst for the socio-economic development of the continent. The Foundation
has set itself apart from grant-making bodies, by operationalising integrated
programmes to support entrepreneurship in Africa and by enhancing the
competitiveness of the African private sector. TEF has achieved this namely
through its flagship initiative, the TF Entrepreneurship Programme, a
10-year, $100 million commitment to identify, train mentor and fund 10,000
entrepreneurs. www.tonyelumelufoundation.org @tonyelumeluFDN
About the TEF
Entrepreneurship Forum
The
TEF Entrepreneurship Forum is the largest annual gathering of African
entrepreneurs, mentors, investors, pan-African media, policy makers and more
from across the continent. It is a showcase of the innovation and
entrepreneurial potential that exists in Africa. The Forum is held over two
days and is the physical gathering of the 2016 Tony Elumelu Entrepreneurs from
54 African countries here in Lagos. This dynamic platform allows the Tony
Elumelu Entrepreneurs to form networks, share knowledge, build cross border
business partnerships, and more through plenary panels, masterclasses, speed
networking, TED style talks and entertainment. The second day will be a
high-level policy gathering to discuss how to improve the ecosystem and to
announce pledges from partners and stakeholders on their own agendas to promote
entrepreneurship in Africa. http://tonyelumelufoundation.org/teep/tef-forum2016/
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