SWAMA SECURES OVER E6M INVESTMENT

MBABANE – The newly- elected SWAMA executive has signed a Memorandum of Understanding (MoU) with Bene Dico Group - IKIRINGO to elevate the arts sector in the country.

Eswatini Arts and Music Association (SWAMA) signed the MoU with Ikiringo on May 21, 2021, and the agreement will run for a period of four years with an option of a renewal after this period elapses. The company has its headquarters in Kigali, Rwanda and is represented by its Chief Executive Officer (CEO)Benoit Ngabonziza. His company is involved in supporting government and communities in sectors to use, protect, promote and commercialise local cultures in sub-Saharan Africa through creation of authentic cultural content, promoting cultural tourism and creating employment for locals.

Challenges

This is done with the purpose of dealing with socio-economic challenges through the Ikiringo Project that was initiated in 2018. According to the MoU, the objective of the agreement between the latter and Eswatini Arts and Music Association (SWAMA) was established to facilitate a relationship of agency between both parties with the company acting as an agent by promoting the culture of the Kingdom of Eswatini. The joint roles of both parties will be to engage all stakeholders to contribute to the success of the MoU and conduct a joint resource mobilisation for the agreement. With this, Bene Dico will source and acquire an amount of approximately E6.6 million (US$480 000) and SWAMA shall provide any and all information needed to assist Bene Dico achieve this aim. Furthermore, both parties are set to conduct cultural promotion and awareness campaigns, organise concerts, events and festivals under the name of SWAMA, but powered by Bene Dico Group in the coming months.

SWAMA’s obligatiion will entail assigning one or more of its partners to work with the company in designing and implementing the projects and programmes, to have access on all content created under the agreement and to sell music content to Ingoma Music Streaming Platform among other plans. It is worth noting that the funds sourced by Ikiringo will be in the SWAMA trust fund and be meted out as per the MoU and proposals presented by SWAMA and Ikiringo.

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