Pioneers In the Creative Industries Should embrace Financial Management Skills - Balaam

The state Minister for Youth and Children Affairs Balaam Barugahara has challenged pioneers in the creative industry to embrace financial management skills through the creation of Saaco Groups

Balaam who was speaking during the 2nd day of the Karuhanga, Tabaro and Associates Symposium noted that the creative industry shouldn’t be under looked and undervalued underscoring the urgent need to embrace digital solutions.

This as the Uganda Communication Commission disclosed an allocation of 1.5 billion shillings to the creative Industry.

The creative industry in Uganda has been experiencing significant growth and evolution in recent years from different key sectors like film industry and fashion Industry and many others.

Despite the growth, the industry faces challenges such as limited funding, inadequate infrastructure, and issues with copyright enforcement. Many creatives struggle to monetise their work effectively.

During the Second day of the KTA Annual Symposium 2024, sector players in the creative Industry were challenged to embrace financial management skills through Saaco groups.

“I have been working in the creative Industry for the last 25 years, so I understand this industry, but we need to embrace discipline in Finance if we need to grow” Balaam said.

Uganda Communications Commission disclose that it has invested close to 1.5 billion shillings to support the creative Industry through content development programs

The Creative Industry in Uganda employs close to 5% of Uganda’s population, with the emerging digital revolutions players have become innovative to reap big in the sector.