Swazi Observer

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‘ARTISTS SHOULD PRIORITISE FINANCIAL MANAGEMENT’

By Mukelo Magagula | 2024-04-28

Minister of Information, Communication and Technology (ICT) Savannah Maziya says there is a critical need for artists to prioritise financial management.

Addressing the gathering during the commemoration of World Book and Copyrights or Intellectual Property Day, Minister Maziya emphasised the pivotal role artists play stressing the necessity for nurturing creativity and innovation.

"Every society needs artists, the creative element, and innovators," Maziya asserted, highlighting the indispensable contribution of artists to societal development.

However, she lamented that many artists overlooked the business aspect of their craft, leading to financial struggles and missed opportunities.

Maziya urged artists to take ownership of their careers and financial affairs, emphasising the importance of understanding the basics of accounting, tax obligations, and financial planning. She expressed concern over the alarming number of artists facing substantial tax liabilities due to ignorance of financial matters.

"Financial responsibility is paramount for artists. They must realise that they are not only creators but also a business," Maziya emphasised, urging artists to invest in protecting their intellectual property rights and copyrights despite the associated costs.

Skills

Furthermore, Maziya advocated for the incorporation of financial management education into the curriculum for creatives. She called upon institutions to develop courses tailored to equip artists with essential financial skills to navigate their careers successfully. Drawing attention to the global norm of maintaining an18-month financial buffer, Minister Maziya stressed the importance of saving for emergencies, future endeavours, and personal enjoyment. She urged Emaswati to embrace financial responsibility and encouraged artists to actively participate in promoting a culture of saving and financial literacy. Maziya highlighted the significance of showcasing successful artists to attract more talent to the industry and dispel misconceptions about the challenges artists face. She urged parents to support their children's artistic aspirations by providing them with the necessary tools and knowledge to thrive in the field. In response to the pressing need for financial education, Maziya called upon stakeholders, including Macmillan, to collaborate in developing comprehensive financial management courses tailored for artists. She emphasised that empowering artists with financial literacy is crucial not only for their individual success but also for the growth and sustainability of the creative industry.

As Eswatini endeavours to foster a vibrant and prosperous artistic community, Maziya's call for financial empowerment resonates as a crucial step towards ensuring the long-term viability and success of artists.

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