South African recording artist, DJ, record producer and businessman, Oscar Sibonginkosi Mdlongwa otherwise known as Oskido has highlighted that lack of funding and investment has hindered the growth of creatives across the African continent.
Speaking recently during the Botswana Music International Conference in Gaborone which preceded the BOMU Awards, Oskido indicated that the creative industry's problems lay in lack of protection of Intellectual property (IP) and access to funding.
Oskido also said creatives find it difficult to get funding despite projects availability. He said despite the challenges, there are exciting times ahead for the creative and music industry. He said the industry needs to move on and adapt to the modern trends of doing business by adopting the use of latest technology.
“When I go to the bank right now and say fund me, they are not gonna fund me. This is despite that I sit on the Afreximbank creative industry Advisory Board where the bank has exciting things where they are funding a lot of creatives in the film and music industry such that if we organise ourselves right now, there are opportunities for us ,” he said.
The bank has through its Creative Africa Nexus (CANEX) programme put aside $500 million fund to support the creative and cultural industries across Africa.
He said it is possible for Africans to have their own platforms similar to Netflix. Oskido is very much respected in the African music scene as he gave birth to Kwaito music genre which later became highly regarded worldwide.