Visa for Music: What funding methods to support "cultural enterprises"

As part of the Visa for Music festival (November 16-19 in Rabat), several debates are launched on themes related to cultural activity in Morocco and on the African continent, including funding.

Thus, faced with the reduction in budgets allocated to the cultural and creative sector, the participants in a dedicated conference stressed the need to reflect on new means of financing to support this sector in the African continent, and limit the dependence to subsidies.

Initiated under the theme “triggering investment in Cultural and Creative Industries (CCI) in Africa: diversification of sources and methods of financing”, this conference brought together experts in support of cultural and creative enterprises and was marked by testimonials from young entrepreneurs on the program for incubating and accelerating cultural and African businesses, “Creative Africa”.

The objective of this meeting was to make entrepreneurs, investors and political decision-makers aware of the specificities of the sector in order to develop financial support models capable of facilitating the achievement of the expected objectives.

Furthermore, supporting entrepreneurs is a necessity for Africa’s development and for its economic and social growth. In this respect, the panelists underlined the strong attractiveness of the sector in relation to young people, revealing its strategic nature in supporting efforts to combat unemployment.

This conference was also an opportunity to discuss the main challenges faced by project leaders in terms of access to training, logistical and IT infrastructure, as well as assistance in marketing, finance and taxation. In this respect, the speakers maintained that these challenges, as different as they are, require capacity building in order to facilitate the creation of strategic partnerships with the actors of the sector and allow the opening of the cultural enterprise to new markets.

In their testimonies, young entrepreneurs noted that the “Creative Africa” program enabled them to get out of “entrepreneurial solitude”, expressing their thanks to the various stakeholders for their commitment.

Afrique Créative is an incubation and acceleration program for cultural and creative companies funded by the French Development Agency (AFD) and implemented by Africalia, I&P Conseil, the consulting branch of the investment company Investisseurs & Partenaires (I&P), Zhu Culture and Bayimba Foundation.

The first phase of the project ran from 2019 to 2021 and focused on structuring the ICC ecosystem by supporting the development, capacity building and networking of nine ICC companies in Burkina Faso, Morocco, in Uganda and Senegal.

Placed under the high patronage of King Mohammed VI, this major international event dedicated to music from Africa and the Middle East is organized this year as part of the celebration of “Rabat, African Capital of Culture”.

Created in 2014, Visa For Music, the leading professional market and music festival from Africa and the Middle East, is an unprecedented event that brings together players from the Moroccan and international music industry.

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