Dumela Creative Stock Launches Online Bank
Staff Writer | Monday September 7, 2020 13:00
Dumela Creative Stock is an image, video and audio bank that curates creative works from Africa’s photographers, videographers and sound engineers and markets and retails them to the world.
As creative entrepreneurs, founders of the online bank, Tech Entrepreneur and Software Development Pioneer, Itumeleng Garebatshabe and Strategist and Communications Specialist, Primrose Modimakwane, joined efforts to not only provide a solution for the African creative in terms of an online bank to find relatable and authentic African images from African creators. They also generate a source of revenue for the creator.
“The Citizen Entrepreneurial Development Agency (CEDA) has come up with new guidelines for the Botswana based entrepreneur, and one of the significant opportunities for the creative industry is the inclusion of Intellectual Property (IP) as a mode of security for financing.
We believe that having one’s IP marketed and sold both locally and internationally will significantly increase its value and further increase the creators’ potential to grow their business and income through strategic financing,” Modimakwane said.
“Having been a head of client services for a top local ad agency, and then running my own communications agency, I was tired of being disappointed by designers having to use images I couldn’t relate to,” said co-founder of the bank, Primrose Mimi Modimakwane.
“Photoshoots can be costly, and sometimes we need relatable images on demand and at the click of a button, and the international image banks just were not meeting the needs of the Botswana and African market”, Modimakwane stated.
Asked about the process of generating revenue for the creative, Garebatshabe said it is simple it is to register as a seller, upload content, and see when money comes into ones account on the platform.
“It has taken us almost three years to develop this online bank because our aim was to make it seamless and easy for the creative to create, engage and earn without taking time away from what they do best. We wanted to construct a simple payment gateway that was instant, and able to show the seller when real money comes into their account after a sale” he said.
“After testing out a few different models, we ended up selecting the one that works best and makes it easy for anyone to purchase, sell and also earn in an international currency from Dumela Creative Stock”, he added.