Woodhall Capital in partnership with Polaris Bank, Lagos and UK governments have introduced the launch of a ₦1.5 billion Creative Sector Fund geared toward increasing entry to structured financing for inventive entrepreneurs meant to scale their output throughout trend, movie, music, and digital content material.
The fund was unveiled throughout the launch of the Creative Currency Podcast, an initiative designed to foster collaboration between creatives, financiers, policymakers, and international stakeholders. The platform will function each a podcast and coverage engagement discussion board, tackling long-standing challenges akin to restricted entry to finance, weak Intellectual Property(IP) enforcement, and the absence of scalable enterprise infrastructure throughout the inventive ecosystem.
In May 2022, Polaris Bank partnered with the Lagos State Employment Trust Fund (LSETF) to determine a ₦1 billion funding initiative focused at artisans in Lagos State.
The goal of the partnership was to ship crucial {financial} help to empower expert artisans and entrepreneurs throughout the MSME sector who had maintained energetic enterprise operations for at the least one 12 months in the end fostering wealth creation and {economic} inclusion throughout the state.
At the launch occasion held on Thursday night on the Ikoyi residence of the British Deputy High Commissioner, Polaris Bank’s Executive Director, Abimbola Ozomah, who sat on a panel on the launch, emphasised that the fund is a long-overdue response to the structural exclusion of creatives from formal financing methods. She described the initiative as a deliberate try to acknowledge inventive endeavours, mental property as a bankable asset and to construct a framework the place creatives are handled as severe entrepreneurs able to producing vital {economic} worth.
“This fund represents more than capital, it reflects our belief in Nigerian creativity as a global force,” mentioned Polaris Bank’s Executive Director, Abimbola Ozomah. “We’re not just exporting talent. We’re exporting ownership, structure, and long-term value.”
Founder and CEO of Woodhall Capital, Mojisola Hunponu-Wusu, reiterated the pressing must redefine how the {financial} system engages with the inventive sector. She dedicated to offering bespoke {financial} merchandise, advisory companies, and investor-matching help tailor-made particularly for the wants of inventive MSMEs.
The UK Government, via the British Deputy High Commissioner, Mr. Jonny Baxter, highlighted its longstanding dedication to Nigeria’s inventive economic system. The UK-Nigeria Creative Industries Partnership signed in 2024 was cited as a milestone in unlocking commerce, funding, and collaborative alternatives between each international locations. The Deputy High Commissioner praised the initiative as a blueprint for international inventive cooperation.
The Lagos State Government, a key driver of the initiative, reaffirmed its ambition to cement Lagos as Africa’s inventive capital. According to the Governor’s consultant, Representing the Governor, Mrs. Folashade Ambrose-Medebem, Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, highlighted the state’s efforts in supporting the sector via progressive coverage reforms, infrastructure growth, and the availability of zero-interest loans of as much as ₦10 million through the Lagos Creative Fund. These measures are designed to empower creatives to scale operations, entry markets, and formalize their enterprise practices.
The newly launched Creative Currency Podcast is positioned to be greater than a media channel. It is a knowledge-sharing ecosystem that brings collectively native abilities, worldwide buyers, authorized specialists, and cultural stakeholders to discover alternatives, establish dangers, and share options that can elevate Nigeria’s inventive industries to international requirements.
Throughout the panel classes, panelists emphasised the necessity for deeper construction, transparency, and professionalism within the sector. Creators had been inspired to develop clear enterprise plans, keep correct {financial} data, formalize their operations, and assert their rights to royalties and IP safety.
As conversations deepened, {financial} establishments acknowledged the necessity for a mindset shift. Traditional danger fashions, they agreed, have to be reimagined to replicate the distinctive nature of inventive enterprises a lot of that are pushed by intangible belongings, versatile income fashions, and export potential.
The occasion concluded with a name to motion: put money into the methods, not simply the tales. Stakeholders had been unanimous of their perception {that a} extra structured, collaborative, and well-capitalized inventive economic system will ship jobs, exports, and international relevance for Nigeria.
Polaris Bank has constructed a robust footprint in financing MSME by committing billions of naira in loans to help MSME operations in Nigeria, with large lending portfolio devoted to empower micro, small, and medium companies meant to develop companies, create jobs, and construct wealth.
