Sterling Bank Plc, has signed a Memorandum of Understanding (MoU) with D Kings Men Media (DKM) Limited as part of its commitment to the development of the creative industry in Nigeria.
Mr. Olanrewaju Olalusi, Sterling Bank’s Head of Creative Industries Financing, said in a statement released recently that the partnership “is designed to forge a strategic collaboration which would, among other things, make Sterling Bank a key financial and investment partner by leveraging access to DKM’s creative and entertainment business.”
Olalusi added that Sterling Bank would also, “facilitate DKM’s access to funding, and other financial services; identify and collaborate on possible opportunities towards ensuring the growth and expansion of DKM’s business across the Nigerian entertainment industry and sub-Saharan Africa.”
The partnership with DKM is a sequel to the bank’s ongoing collaboration with the Ake Arts and Books Festival as well as its partnership with the Nike Arts Gallery, among others.
The Chairman, DKM – Daniel Oladapo Oyebanjo popularly known as D’Banj spoke about the collaboration as a great opportunity to improve, encourage and support talents in Nigeria and Sub-Saharan Africa creative industry.
The veteran musician and industry legend who has continually lent his skill and platform to the advancement and growth of the music sector described the creative industry as Nigeria’s new crude oil export to the world and extolled the Sterling Bank and DKM Partnership as an opportunity to drive market growth while presenting the opportunity of a wider, global audience for rising and established acts.
DKM’s Creative platform called CREAM is Africa’s Biggest creative / talent scouting platform which has discovered and produced some talented creatives / artiste in Nigeria over the years such as Slimcase, Mr. Real, among others. The objectives and drive of the Cream Platform especially its overarching reach in the creative industry makes it a veritable platform that incubates, nurtures and grooms Africa’s pre-existing and prospecting acts in the creative scene.
Sterling Bank has also supported the Ake Arts and Books Festival for three consecutive years as the headline sponsor. The festival is driven by Lola Shoneyin, an award-winning writer and poet, to promote literacy, reading, and culture.
Also, in its foray into the arts industry, the bank recently partnered with the Nike Arts Gallery in support and highlight some of the investment opportunities available in the arts and tourism sectors in Nigeria. The Nike Art Gallery, owned by Chief Nike Okundaye, is one of the largest of its kind in the West African sub-region, with a collection of about 8,000 diverse artworks by various Nigerian artists.
Sterling Bank has also supported the Legends of Nollywood Awards, an initiative being promoted by Mr. Paul Obazele to identify and recognize legendary thespians who, through art, ingenuity, foresight, and vision, have laid a solid foundation for the establishment of Nigeria’s vibrant motion picture industry, known as Nollywood, today.
Besides this, the bank has also expressed its desire to continue to support the tourism sector with about N10 billion as part of its commitment to consolidating the signs of growth in the economy in the wake of the COVID-19 pandemic. Under this initiative, it is presently partnering with the Ekiti State Government and other state governments in the country to explore the developmental needs of its tourism assets.
Sterling Bank is a licensed financial institution that provides banking, advisory, and financial-related services with interest in the development of the entertainment industry in Nigeria through the provision of payment services, collections, consumer finance, and other credit schemes to entertainment industry practitioners.
DKM is a leading global media and entertainment company and the proprietor of CREAM platform, a subscription-based digital platform that offers easy access to a variety of entertainment content.