The entertainment industry - catalysts of changeAuthor: email@example.com
The R4,7 Billion Film & Television sector can provide employment and transformation in the real economic sense to change lives and uplift those participating in the entertainment industry.
There are financial incentives available from the Department of Trade, Industry and Competition (DTIC) to convince international stakeholders to support newer black-owned companies. These incentives include a rebate system that allows producers to attract international producers to shoot their films in South Africa. The Rebate works in phases. For International Co-Productions, 25% - 35% of all spend that is spent in SA will be given as a rebate for “re-investment”. In the case of Local Film production, these rebates can go up to 50% if it is a production that qualifies in terms of the BEE requirements.
There are also entities like the Industrial Development Co-Operation (IDC) and the National Empowerment Fund (NEF) that are also actively investing in the film & television sector.
“What is wonderful to see in this shifting landscape is that intelligent, pioneering black women are taking the helm of massive productions,” he says. “Watching as resilient, innovative African women rise to the highest ranks despite historically embedded challenges fills me with excitement for the opportunities the future may bring for my own daughter.”