Showbiz
Heritage Bank Reaffirms Commitment to Showbiz Industry
By Dipo Olowookere
Heritage Bank Limited’s commitment to the development and growth of the creative industry has been recognised by the Federal Government.
Dubbed as Nigeria’s Most Innovative Banking Service Provider, Heritage Bank said it supports the sector because it was concerned on how to find a framework to provide funding for players in the industry.
At a two-day Creative Nigeria Summit held in Lagos recently with the theme: Financing the Film, Television and Music Industries; which was co-sponsored by the lender, Minister of Information and Culture, Mr Lai Mohammed, said it was a nice thing to have the bank give backing to the creative industry.
He remarked that the conference, which was jointly organized by the Federal Ministry of Information and Culture and the Think Tank Media and Advertising, was to take the industry into a golden era with smooth access to short and long term financing, world class management and local and international distribution.
In a plenary session on Alternative Sources of Financing for the Creative industry, Mr Dike Dimiri, Acting Chief Risk Officer of Heritage Bank, articulated some issues that have continue to plague the entertainment industry over the years.
According to him, the industry is being hindered by lack of infrastructure such as studios, equipment and talented manpower, adding that at a time when some international universities were offering cinematography as a course in Mass Communication, Nigeria’s educational system was still skewed towards the print industry which is dying rather than electronic industry that is widening, so there is deficiency that needs to be corrected.
Other issues he cited as hindrances to the creative industry are legal framework around which the industry runs its business, especially how intellectual property is protected as well as the right type of finance for the industry.
The Chief Risk Officer also touched on the need to have value chain in the industry, instead of one person being involved in every stage of the business as well as the need for operators to package their works into libraries and use them as collaterals to access money from banks.
Mr Dimiri said Heritage Bank was committed to the development and growth of the entertainment industry because one of the easiest ways to solve the unemployment issue in the country is to get as many people as possible involved in the entertainment industry, because manufacturing, banking and other sectors cannot do it alone.
He said the music industry has done so much for Nigeria in terms of employment and foreign exchange earnings and if more resources could be put into it and also de-risk it, the country would be better for it.
The two-day summit attracted who is who in the industry and the Minister of Information and Culture, Mr Lai Mohammed announced the establishment of a $1 million venture capital to boost the industry.
He said the Federal Government has held discussions with about 20 foreign/local investors who were expected to invest a minimum of $50,000 each to raise the $1 million, adding that five investors have already indicated interest to invest $50,000 each and expressed the hope that more were also expected to show their firm commitment in due course.
The Minister said the $1 million venture capital would provide seed money for young and talented Nigerians to set up businesses in the creative industry.
By Modupe Gbadeyanka
The application deadline for the 2026 intake of the MultiChoice Talent Factory (MTF) has been extended to Monday, April 27.
The deadline for the pan-African film and television training institution was earlier fixed for February 27, but it has now been extended by two months, giving aspiring African filmmakers, directors, producers, scriptwriters and storytellers across the continent additional time to apply for its fully funded, industry-accredited training programme.
The programme is open to young creatives aged 18 to 35 with a passion for the screen industry. Applicants may hold qualifications in film, television, media, drama, or related creative disciplines or possess one to two years of industry experience. A formal film degree is not required.
Participants will be exposed to a structured 12-month programme across key areas, including scriptwriting, production management, directing, cinematography, editing, sound, and various post-production specialities, gaining experience in bringing stories to life. The programme is fully funded, covering tuition, production costs, and monthly stipends, allowing participants to focus entirely on developing their craft.
MTF operates academies across four African cities: Johannesburg (South Africa), Nairobi (Kenya), Lagos (Nigeria), and Lusaka (Zambia), ensuring a diverse pool of talent is trained to contribute to the growth of Africa’s film and television industry.
The initiative was established in 2018 by MultiChoice Group, a CANAL+ company, to discover and nurture the next generation of storytellers by providing access to mentorship, technical training, and real-world production experience in film and television.
Almost 300 filmmakers have been trained by MTF, with participants producing over 42 movies during the programme. These projects are broadcast on DStv and GOtv channels, including Maisha Magic, Zambezi Magic, and Africa Magic. MTF graduates have earned nominations and awards at major platforms such as the Africa Magic Viewers’ Choice Awards (AMVCA), Uganda Film Festival, and Women in Film Awards. Alumni also collaborate in global creative spaces, including the European Film Market and Durban FilmMart.
By Aduragbemi Omiyale
Nigeria and the United Kingdom have forged new pathways aimed at tapping into the growing global creative economy.
The UK, through the British Council, will help Nigeria build stronger systems, infrastructure and professional capability to unlock opportunities in the sector.
The collaboration will support the development of creative systems and partnerships by focusing on artistic collaboration, creative infrastructure, institutional capacity, skills development and exchange.
This is an offshoot of the two-day state visit to the UK by President Bola Tinubu on Wednesday and Thursday. The President returned to Nigeria on Friday.
The deal with the UK concerning the creative industry aims to deliver practical, long-term value through stronger partnerships and technical cooperation.
The sector is recognised as a key engine for job creation and foreign exchange earnings, with explicit targets to increase the value of creative industries and strengthen infrastructure, digital integration, and international market access.
In the UK, the creative industries are recognised as one of the country’s highest-growth sectors, supported through government funding, investment incentives, and industrial strategy to boost innovation, skills development, export growth, and international partnerships.
Already, the Nigerian government has articulated a comprehensive vision to grow its creative economy through initiatives such as the Nigeria Destination 2030 creative economy framework, skills development priorities, strategic policy reforms, and fostering public–private partnerships aimed at scaling creative business outputs and increasing global competitiveness.
Through one of the partnerships between both nations, the UK/Nigeria Bilateral Season, there would be a focus on strengthening creative systems and production infrastructure, including the adoption of emerging technology; supporting skills development and leadership across arts, culture and education sectors; improving access to UK and international markets through structured mobility pathways and industry engagement, and enabling UK and Nigerian creative institutions to form lasting partnerships that continue beyond the Season.
Activities will take place across both countries in 2028, following two years of partner engagement involving visiting delegations and programme incubation, unlocking resources in both countries to catalyse greater cultural collaboration.
The other arm of the collaboration is the launch of the British Council SCALE UK-NG Creatives Entrepreneurs Award Programme (2027/28)
The British Council and the Department for Business and Trade will partner on the new SCALE (Supporting Creative Acceleration, Leadership & Exports) Programme.
SCALE will enhance international connections and export readiness, supporting both the Nigerian and UK creative economy growth and trade.
The Award and associated fast-track training programme will draw on a decade of learning gained from the delivery of the British Council Young Creative Entrepreneurs Programme and from DBT’s sector expertise and network of investors.
“Culture has an amazing power to bring people together. When we work together, we open our eyes to new creative possibilities and build opportunities to grow our creative sectors.
“With the UK being home to the largest Nigerian diaspora in Europe, we’re perfectly placed to make the most of these opportunities.
“So many of our brightest stars have shared heritage across Nigeria and Britain, and I look forward to these cultural bonds only growing stronger through the joint Season of Culture in 2028, the UK’s Arts Minister, Ian Murray, said.
Also commenting, the Country Director for British Council Nigeria, Donna McGowan, said, “The UK/ NG Season will involve a range of innovative initiatives to be designed by diverse UK and Nigeria creative organisations, with activity taking place in both countries.
“SCALE is a transformative initiative that aims to empower the next generation of Nigerian creatives.
“By fostering innovation and providing vital resources, we are not only investing in individual talents but also strengthening the cultural and economic ties between the UK and Nigeria.”
By Adedapo Adesanya
Showmax has announced that it would shut down its streaming services on April 30, 2026, bringing an end to its current operations.
The company disclosed this in an email sent to its subscribers, outlining key dates and what users should expect in the coming weeks.
According to the notice, the streamer set March 31, 2026, as the deadline for users to renew subscriptions or redeem vouchers, adding that from April 1, 2026, new subscriptions and renewals will no longer be available.
Recall that Canal+, which now owns MultiChoice, a pay-TV firm, earlier this month announced its decision to discontinue the streaming service due to its unsustainable operations.
MultiChoice launched Showmax across Africa 10 years ago in August 2015 to compete with the advent of streamers like Netflix, Apple TV, Amazon’s Prime Video, Disney+ and others, but it faced some challenges and couldn’t hit its target.
Even after it relaunched in partnership with Comcast’s NBCUniversal in 2024, it kept haemorrhaging cash without a viable return. Canal+ is looking to cut a combined €400 million by 2030, which will affect content.
NBCUniversal has a 30 per cent stake in Showmax as a joint venture. In its last annual results before the Canal+ takeover, MultiChoice revealed that Showmax’s trading losses had worsened by 88 per cent while revenue significantly declined.
With the winding-down plan now in full flow, Showmax informed subscribers that existing users can continue watching content until their subscriptions expire or until the end of April 2026.
“31 March 2026: Last day to renew your Showmax subscription or redeem vouchers,” the email stated.
It further reassured subscribers that there would be no immediate disruption for active users, noting that they can keep streaming content as usual within the transition period.
“No stress, you can keep watching as usual until your subscription ends, or until the end of April 2026, whichever comes first,” the company said.
The platform also hinted at a transition plan, stating that more details would be shared on how users can continue enjoying its content through other channels, particularly via DStv Stream.
“We’ll soon share how you can keep enjoying Showmax Originals and more on DStv Stream… So, ‘be on the lookout,” the email added.
MultiChoice has already started rebranding Showmax Originals as Africa Magic, M-Net, kykNET and Mzansi Magic Originals, with original series that will transition to these various DStv linear TV channels on the MultiChoice pay-TV platform.
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