From Monday, January 22, practitioners in Ghana’s creative industry can apply to access $1 million set up by Zylofon Media for the sector.
The Zylofon Arts Fund, according to the media company, is aimed at giving financial support to people in the creative arts industry to execute their projects.
All persons in the sector who have been yearning for support for their works can now send proposals for vetting by the fund’s five-member board and upon approval receive funding.
Speaking at the press launch for the fund, Samuel Atuobi Baah, Head of Communication, said the fund is for all practitioners in the creative arts sector.
He said, “Zylofon Arts Fund is a fund that is going to support the creative arts industry from all disciplines. From dancers, movie and music producers, artistes to whoever plays a critical role in the creative arts industry stand a chance of accessing this fund.”
Mr Baah further noted that the ultimate aim for the company is the establishment of a creative arts bank “but for now, it’s just a lifetime fund which will benefit the creative people.”
A unique thing about the fund, he added, is that persons who apply for support for their projects will not pay interest on the funding they receive.
To sustain the Zylofon Arts Fund, Mr Baah said Zylofon Media and its partners will commit 10 percent of profits from their global transactions into the fund.
“We believe in the sustainability of the fund so Zylofon Media has decided to put 10 percent of profits we will make from our worldwide businesses into the fund to support it,” he noted.