Limited Private Sector investment towards CCI's block their growth
- The new study reveals that the informality among creative businesseses delays their growth.
The new study revealed that limited Private Sector investment towards the Culture and Creative Industries (CCI’s)has contributed to the delay of their growth.
The study conducted by Culture and Development East Africa in five regions including Gulu,Kampala , Mbale ,Arua among others in a period of 3 months further indicated that lack of entrepreneur skills among creative businesses also fuels their downfall.
While disseminating the report Ayeta Wangusa the Lead Researcher said that lack of entrepreneur skills not only affects proper running of those businesses but also hinders private sector players from investing in them viewing it as a risk.
She explained that limited knowledge and lack of internal capacity that can lead to a paradigm shift also affects CCI’s ability to attract the global market.
Ayeta said that the informality among creative businesses as well contributes to the stunted growth of the sector since they have no clear ways of making accountability on how businesses run.
Ayeta went ahead and called upon the government and several players to support the Culture and creative sectors saying that it will avail funds and improved infrastructure that can facilitate the development of the industries.
Image: Namutebi Phiona
At the same event, the Woman MP Bugweri District also the Chairperson of the Parliamentary Forum for Creative Arts Rachel Magoola asked government to establish the Culture and Creative Ministry as it will help in enhancing their growth .
She noted that currently the creative industry has failed to grow due to lack of an appropriate ministry that can provide guidance to several players,
”At the moment the creative economy is scattered in 6 different ministries where it is less prioritized , no one bothers to document the power of this industry , if there’s a ministry attention will be paid to what is necessary to show government and the public that it is even bigger than the Petroleum ,coffee and other sectors”,Magoola stated.