‘SHOWbiz’ Credit Union To Promote Habit Of Savings In Creative Industry To Be Launched in March 2018

The financial woes of mavens operating within the creative industry in the country would soon come to an end as some bigwigs within the industry move to roll out the first ever ‘Showbiz’ credit union that would help cater for the financial needs of every member.

Showbiz Credit Union as the name implies is an initiative which seeks to help promote the habit of savings in the creative industry.

The creative sector in Ghana has seen many artistes over the years that have passed through the industry rising to fame and disappearing from the scene, ending up as paupers.

In attempt to end this unfortunate trend, the first Showbiz Credit Union would be launched in March, 2018.

The fund when successfully launched would target all professionals within the creative industry including musicians, composers, arrangers, sound engineers, lighting/sound providers, stage designers, dancers, Actors, Actresses, Cameramen, producers, directors, make-up artists, fashion designers, Models, Tailors, Seamstresses, beauticians, Multimedia owners, Radio, TV presenters, Journalists, Photographers, Editors, Footballers, Athletes, Boxers, Pastors, Sculptors, Painters, Event organizers, Caterers, Distributors, vendors, Retailers, Institutions, Organizations, and other stakeholders.

According to Rex Omar, a renowned highlife musician, the brain behind the initiative, the idea was born out of conviction and zeal to help fix some final problems in the creative industry.

Rex Omar who also doubles as the chairman of The Ghana Music Rights Organization (GHAMRO), hinted that the idea started in 2009 but its implementation began barely 3 weeks ago by the help of friends who shared similar thoughts with him.

“As I researched the idea of promoting savings in our sector, the idea of credit union came into mind and I said that’s it because it dawned on me that majority of the people don’t have savings accounts, insurance cover or even pension schemes and since I became the Chairman of GHAMRO I really felt the pinch because every now and then I get calls from members asking for advance payment of their royalty to either pay school fees, settle medical bills or to even solve other financial problems then I’ve realized that this vacuum has to be filled because GHAMRO doesn’t have a policy to pay this type of monies”.

Rex Omar disclosed he sees a very bright future ahead of every member of the creative industry when the initiative finally takes off in 2018.

“This one will provide better services to our people which even banks cannot afford knowing very well we’re serving ourselves with variety of quality services”, he stressed”.

“People gravitate towards us (showbiz people) because we’re celebrities and stars. They want to be with us so we will start it and people will gravitate towards us, and more people will join, the powerful it’ll become” he concluded.

To kick start a good project, the owners have already secured an office building currently undergoing renovation, situated precisely at Kanda, a suburb of Accra.

They have also recruited some staff who waiting to be trained by the Credit Union Association including formed an interim board made up of high caliber of people to handle the management of operation.

Other activities which were undertaken in preparation towards successful implementation of the 1st ever & the biggest showbiz credit union business in town include contracting of the best professional ICT company to handle the Union’s ICT platform, putting up in place the department of communication to handle all information concerning the union and its branding including setting up the database of members.

Credit: ghananewsone.com

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