As a prelude the main awards ceremony of the Vodafone Ghana Music Awards this year, the ‘Music Business’ seminar came off at the Alisa Swiss Spirit Hotel in Accra yesterday with banking professionals speaking to members of the Ghanaian creative society on investment opportunities. Mr Jerry Nazareth Asangba, an investment specialist from Standard Chartered Bank took the attendants through a brief but informative session of investment prospects available to Ghanaians.
As the session began, Mr Jerry Asangba explained the necessity in investing for the future. “One thing we have to bare in mind is as we are young and vibrant today, able to spend 8 to 9 hours in the studio working on songs, there will be a day when you will need your money to work for”, he said.
He went onto stress the need for diversifying investments as a guaranteed and safe way of protecting one’s investments. “You can’t do any meaningful investment unless you know how to diversify. Like our grandmothers told us not to put our eggs in one basket so there is the need for us to diversify. All investment instruments are not going to be going up at the same time, and all are not going to be coming down at the same time. So, when you diversify, with your basket of holdings, at some point, if one side of the market is not good the other side may be good. Therefore, they will complement each other”, he explained.
He also described the music industry as one of the most envied and said that contrary to what some may think that musicians will always be rich, there will be ‘stormy weather’ during their careers. He concluded saying that Investments and Music have a lot in common and advised the audience to take advantage of the packages at the Standard Charted Bank to secure their future.
The event was attended by mainly stakeholders of the Ghanaian music industry as well as multiple media houses.
By Jerry Wonder