Ghana Music Live, a recently launched exclusive music mobile application has through its social media pages shared an art piece indicating that the erstwhile MUSIGA President Bice Osei Kuffour during his tenure assisted over sixty-eight (68) musicians to acquire loans to further in whole or facets of their varied music careers.
The said Loans acquired over the period with the assistance of the Musicians Union of Ghana amounts to over one million Ghana cedis (GHC1,000,0000). This news has been received with much shock and deemed as untrue in most quarters of the industry. Checks however reveal that this is indeed true and beneficiaries include several artistes rated as legends, A class acts and record labels.
These Loans were acquired over a period with the financial institution “Midland Savings & Loans. This was under a scheme called the “Musiga Ajumapa Business Loans” which had low interest rates and relatively collateral free and guaranteed by the Union to enable her members access funds for their projects.
Situations like this are why it is so important for artists to have access to business loans to grow their own brands and develop their music. Companies such as SummitFR.com are usually how people approach this subject, but for these sixty-eight artists there was a different route available.
Sources close to the erstwhile Midland Savings and Loans General Manager lists Rex Omar, Kojo Antwi, Samini, Okyeame Kwame, Tic Tac, Kaakyire Kwame Appiah, Celestine Donkor, Ben Brako, A.b Crentsil, Raquel, Charles Anaman, John Owusu and Lynx Entertainment as part of the beneficiaries of this scheme.
Source: Eli Gold