• Sunday, April 21, 2024
businessday logo

BusinessDay

UBA pledges more support for Africa’s creative industry

UBA to seek shareholders approval for capital raise

The United Bank for Africa (UBA), has reaffirmed its commitment to the empowerment of the continent’s creative industry, pledging to continue leading the charge in this sector. The announcement came from Muyiwa Akinyemi, Group Deputy Managing Director, UBA, during his keynote address at the Nigerian International Film and TV Summit (NIFSTV) 2023 held in Lagos on Tuesday.

According to Akinyemi, UBA has made substantial investments in the creative industry, including its lifestyle and entertainment channels, REDTV and REDRadio, which he said are a testament to the bank’s visionary commitment towards nurturing and promoting talent. He said that these strategic endeavors have acted as transformative catalysts, propelling the growth of the creative sector and enabling Africa’s talents to shine brightly on the global stage.

“For us at UBA, we pride ourselves as Africa’s global bank, which is why we invested over a billion naira to set up RED TV and RED Radio in 2017,” Akinyemi said. “These investments have been catalysts for growth, providing a platform for creative entrepreneurs to launch themselves into the market.”

Read also: UBA grows Q3 earnings by 115% as PBT up by 263% to N502.1bn

He further said that UBA’s digital online television channel has emerged as a dynamic platform championing African creativity in diverse fields such as music, fashion, and film.

“UBA’s dedication to providing emerging artists, filmmakers, and designers with the means to reach broader audiences, both locally and internationally, has solidified its role as a driving force behind the African entertainment industry’s global recognition,” he added.

The NIFSTV 2023 summit brought together professionals, stakeholders, and enthusiasts from the Nigerian film and television industry, fostering discussions on innovation, collaboration, and sustainable growth. A special panel session focused on the importance of insurance and financial management for film professionals was also held at the event.

Akinyemi concluded by underscoring UBA’s ongoing commitment to the creative industry, asserting that the bank is not merely a financial institution, but also a powerful enabler of talent and a pioneer in fostering Africa’s vibrant creative ecosystem.

As the bank continues to invest in the creative industry, it remains poised to be the vanguard of Africa’s cultural expression and artistic ingenuity, reinforcing its reputation as a transformative agent and a key contributor to Africa’s artistic and cultural renaissance.