Turning Art into Sustainable Business in the Lake Basin Region

Successful communities are those that are multidimensional and diverse in not only offering employment opportunities but in addition offering a wide range of lifestyle amenities and a climate that encourage and cultivates creative expression. Artists develop content that is consumed globally and the advent of globalization and mega trends internationally, has opened up the world wide market for more a diverse mix of artists and genres.

The Creatives Industry’s contribution to the local economy

The creatives industry in Kenya, was identified as one of the key contributors to the growth of the country’s GDP in an economy. According to discussions held during the “Creatives Economy Dialogues” side event organized by HEVA and Hivos East Africa, alongside Forum Syd, UNDP , East Africa Trade and Investment Hub,the creative industry accounts for an estimated 5.3% of the national GDP (Kenya Copyright Board, 2013). This is equivalent to KES 182 billion of Kenya’s 3.4 trillion national GDP. With critical strategic support, the creative economy has the potential to contribute 10% of Kenya’s GDP within the next decade.

In the Western Kenya region, most artists lack the business acumen to run and sustain a viable brand. For this reason, Winam Capital collaborates with these entrepreneurs by preparing them to become to investor ready in order to  attract and retain angel investment. To just start this conversation, the firm will be hosting stakeholders in the creatives industry on 7th September 2018, during the Business Friday Forum with the theme : Turning Art/Talent into business, a the University of Nairobi, Kisumu as fro 6 pm to 9 pm. All creatives are welcome.

Complied by Millicent Okeyo, Research Associate at Winam Capital

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