2020 was when the journey began for the young musicians.
They were just having random jam sessions which tickled the fancy of music enthusiasts, kujezura zvayo as musicians would love to put it.
They did so by playing yesteryear hits by Zimbabwean musicians and they aptly named their meetings, ‘Legends Night’.
Fast forward to four years later the energetic and adroit outfit comprising of various session musicians is now filling auditoriums and people are willing to pay for a trip down memory lane.
2024, things have become more interesting as corporates are also hooked and have started investing the Legends Night.
We caught up with CrediConnect’s marketing representative, Norah Chigova who shared why the microfinance was partnering with the young musicians in an environment where corporates are shying away from investing in musical concerts.
Why did you choose to sponsor such an event?
There are multiple reasons why Crediconnect chose to sponsor this musical event and to start with is the aspect of preserving cultural heritage and edutainment.
Supporting a musical event that pays tribute to a late musical legend provides an opportunity for upcoming artists to learn from their musical expertise. This can help preserve the cultural heritage associated with the late legend and ensure their musical style and knowledge are passed on to future generations.
Another factor is that of talent development. Funding promotes the skills and talents of emerging artists. Given a platform to perform alongside established musicians or in a dedicated space, these artists can gain exposure, experience, and learn from the techniques and artistry of the late legend.
Overall, funding a musical event with these goals in mind can be seen as a strategic investment by Crediconnect, contributing to cultural preservation, talent development, public health advocacy, and community engagement.
Is there growth potential for the local cultural and creative industry?
The arts industry is diminishing to a greater extent and one of the major contributors is lack of funding. This is a significant problem for artists and arts organizations, as it often determines their ability to create, produce, and showcase their work.
Public funding for the arts has been diminishing in some regions, leading to a greater reliance on private donations and sponsorships. Artists may struggle to secure grants or find investors willing to support their projects. Limited funding can hinder the growth and development of the arts industry.
Substance abuse and addiction is another factor affecting our Zimbabwean artists. Drug abuse can have severe consequences on an artist’s creativity, well-being, relationships, and overall professional life. It is hindering most artists’ ability to produce work consistently or maintain professional relationships, impacting their reputation and overall success.
Financial illiteracy is the third pillar. Many artists lack financial literacy skills, which can be detrimental to their careers. Artists do not understand how to manage their finances or negotiate contracts and are taken advantage of as well as struggle with financial stability. Improving financial literacy among artists is essential for their long-term success and sustainability.
Then finally, the failure to grasp patent rights. Intellectual property rights, including patents, are crucial for artists to protect their creative works. However, most artists in Zimbabwe lack awareness or understanding of patent rights, making it difficult for them to assert ownership and control over their artistic innovations, potentially leading to unauthorized use and exploitation.
Addressing these challenges requires a multi-faceted approach. Increased public and private funding for the arts, educational programs on financial literacy tailored to artists, and initiatives to raise awareness about intellectual property rights can all contribute to addressing these issues and supporting the growth of the arts industry.
What is Crediconnect all about?
We connect individuals and businesses to opportunities that require funding, including those in the music industry. Here are some key points regarding the impact of Crediconnect specifically in the context of arts industry:
Access to Capital: Crediconnect offers asset finance loans, business loans, or other financial products to aspiring musicians, music producers, or music-related businesses. These funds can be used for equipment purchase, studio rentals, marketing campaigns, tour expenses, or other crucial aspects of the music industry. Microfinance helps bridge the funding gap for many artists who may not have access to traditional banking services or face challenges in obtaining loans from larger financial institutions.
Financial Inclusion: Crediconnect promotes financial inclusion by reaching out to marginalized or underserved communities in the music industry. By providing loans to aspiring artists or small music businesses, as Crediconnect we foster entrepreneurship and economic development within the music industry.
Proper Paperwork and Documentation: It is crucial for musicians and music industry professionals seeking financial assistance through microfinance to maintain proper paperwork and documentation. This includes preparing a well-structured business plan, organizing financial statements, maintaining a record of income and expenses, and ensuring legal compliance. These steps demonstrate professionalism and instill confidence in the lender or microfinance institution. Clear and transparent documentation increases the likelihood of approval for funding, as it helps assess the viability and potential of the project or business.
Financial Education and Support: Crediconnect often provide financial literacy training and support to borrowers. This includes educating individuals on managing finances, budgeting, and maintaining financial records. By equipping musicians and music entrepreneurs with financial knowledge and skills, microfinance institutions can enhance the effectiveness and sustainability of the financial assistance provided.
