BoG, SDF Hold Talks On Creative Industry Financing

Dr. Ernest Addison (M) with the delegation


An eight-member delegation from the Stellar Development Foundation (SDF), last Thursday paid a courtesy call on the Governor of the Bank of Ghana, Dr. Ernest Addison, to discuss potential collaboration to support the creative arts industry.

The delegation, led by celebrated actor, Idris Elba and CEO of Denelle Dixon, who were received by the Governor of Bank of Ghana, Dr. Addison, discussed how to collaborate with BOG to use block chain to unlock the world’s economic potential to empower creators through smart contracts.

The non-profit organisation also presented block-chain based-fintech innovation designed to guarantee fair compensation for participants in the local creative industry whose work are commercialised globally.

They also disclosed how both parties could explore piloting technology and policy innovation to enhance the IP’s and copyright administration to the benefits of local content creators.

The delegation said the block chain innovation will also address the current challenge most industry players in Africa face leading to gross violations of their intellectuals’ properties and copyrights.

The delegation further mentioned how innovation will help address their inability to access funding opportunities for ‘growth’ or worse still, realise funds that are legitimately earned via commercial use of the works across the globe.

According to the delegation, their selection of Ghana as a potential pilot country for the innovation was on account of the bank’s advancement in the area of central banks digital currency (the eCedi).

Bank of Ghana and the Stellar Development Foundation both expressed their commitment to work together on the initiative for the long term benefit of the creative industry particularly the youth.

By Ebenezer Amponsah