Fidelity Bank moves to address institutional needs of entertainment industry

Fidelity Bank Plc’s continuous engagement with Small and Medium Enterprises (SME), specifically, the entertainment industry, indicates its willingness to address the institutional needs of the sector.

Richard Mofe Damijo (RMD), Veteran Nollywood actor at the Fidelity SME Forum on Inspiration 92.3 FM last week sought for private sector especially banks collaboration on meeting the needs of entertainment industry such as institutional support and establishment of more cinemas in the country.

Damijo said, if there is complete collaboration between the entertainment sector and the private sector, the industry would grow faster than it is presently.

“Today there is a need for structural development in the industry. We need more cinemas because right now economies are making more money and we know that if there are lots more cinemas, the private sector can invest in re training people”, Damijo told journalists after the programme.

He was pleased with Fidelity Bank for not only running an SME programme but focusing on the entertainment industry in particular.

The renowned actor stressed the need for the private sector to look at the business aspect of the entertainment industry critically.

“We don’t need a Basket Mouth to sell the Wembley Arena before you guys can come in. We don’t need the AY show to cause traffic or mayhem in Eko Hotel for you guys to realize that there is plenty of money there. You don’t need the Wedding Part to make N460 million and above before you know that we need more cinemas”, Damijo said.

While anchoring the Fidelity SME forum which focused on “Achieving Sustainability in the Nigerian Entertainment Industry,” Nnamdi Okonkwo, managing director/CEO of the bank disclosed the bank’s plans to hold a seminar at the end of the broadcast series where experts would speak to young entrants in the entertainment industry, exchange ideas and share knowledge about relevant issues.

He said issues like personal financial management, value chain of the entertainment business, among others would be discussed at the seminar.

Responding to the position of RMD on the need for institutional support for the entertainment industry, Okonkwo noted that it was part of the reason the bank was doing what it was doing presently.

 

HOPE MOSES-ASHIKE