The Chartered Institute of Stockbrokers (CIS) has said that it aims to boost the development of the entertainment industry through a beneficial relationship with the capital market.
This was disclosed by the Chairman of the CIS Program Committee, Mr Akeem Oyewale, while addressing journalists on the 2014 conference of the institute with the theme: ‘The Capital Market: The key catalyst to the development of the Entertainment Industry in Nigeria.’
Mr Oyewale noted that the focus on the entertainment industry was imperative looking at the contribution of the industry in the recent Gross Domestic Product (GDP) rebasing.
He also noted that during the conference, the industry would be exposed to various financial instruments available to better fund the sector and thereby enable it fulfil its potentials.
In his words: “2014 annual conference is focused on the entertainment industry and the needed connection with the capital market.”
“The CIS believes that this conference would jump-start the conversation and the connection between the capital market and the entertainment industry. There are series of financial instruments that are available for the entertainment industry to optimise for both practitioners in their personal capacities and also their companies and we believe that this conference would provide the opportunities for these engagements,” he added.
Again, he stated that the need for the sector to collaborate with capital market cannot be over-emphasised looking at the role the capital market plays in providing long-term capital at very little cost.
According to him, “the capital market is a market which provides long term funding for the entire economy and we believe the entertainment industry is yet to benefit from the capital market. The reach and spread of nollywood and the music industry of Nigeria currently transcends the shores of Nigeria. We know all over Africa, Nigerian actors and musicians hold sway. Also, given the highly itinerant nature of Nigeria, one of the major exports of our country has been our entertainment industry.”
The Chairman of the CIS Conference Committee, Mr Wale Agbeyangi, explained further that the CIS has put together an array of quality speakers and practitioners from both industries. The Director General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh; the CEO of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema and President of CIS, Mr Albert Okumagba, would provide brief addresses, while Mr Ben Murray Bruce of the Silverbird Group and the Minister for Tourism, High Chief Edem Duke, would headline discussions for the Entertainment Industry.
Agbeyangi further revealed that some of the confirmed speakers and participants at the conference will include: the CEO of the Nigerian Bureau of Statistics (NBS), Dr Yemi Kale; Ali Baba; Ms Yewande Sadiku, CEO of the Stanbic IBTC Capital; Mrs Omotola Jalade-Ekeinde, Mr Bolaji Balogun of Chapel Hill Denham Group; Mr Biodun Shobanjo and Ms Mosunmola Abudu, Tiwa Savage, Olu Jazz, Waje, Dr Sid and a host of other world-class performers are also going to provide colour to the conference at its Gala Nites.
Source : Tribune