How Credit Sawa Hopes To Solve Access To Credit Services For Artists

Africa is a booming continent, not only economically, but also culturally.

One of these cultural aspects that has seen Africa take a world spotlight is the music industry. African music has received global distribution in recent years and the trend continues.

We are seeing a beacon of musical artists, production houses, and hit after hit coming from the continent. With these trends emerge new opportunities for creatives to make a living and achieve global influence and recognition that musicians from the Western world enjoy.

Despite these successes however, the continent continues to face more pressing problems. As a result, most governments are focused on alleviating such problems, and in the process, less focus has been given on growing and nurturing talent in the music industry.

Some of the challenges that budding musicians face is access to funds. Most artists are forced to rely on family, friends, and well-wishers to pay for such things as studio time, production costs, and sometimes, their own maintenance as they build up their career.

Unlike other professions where credit services are available, musicians have to fend for themselves which limits what most can do in the industry.

Some services however are trying to solve this problem by introducing alternative credit services targeted at musicians.

One of these services is Credit Sawa, an online credit service that finances and manages musicians’ finances as they grow.

With most banks and financial institutions failing to offer such a service, Credit Sawa offers a great alternative, in partnership with a local production house, Homeboyz Entertainment, to enable musicians build a career in the industry without having to struggle over financing.

Speaking at the Ongea Music Summit 2016, held in Nairobi, Kenya, the founder of Credit Sawa, Alex Magu, said that the service has helped many musicians get an easy start in the music industry. The service has also helped artists control their credit costs and reduce the cost of borrowing money.

As the music industry grows steadily across Africa, we can expect to see similar services emerge to support musicians and upcoming artists, further accelerating and fueling the African music scene.