Ghanaian creatives losing funding opportunities over poor documentation – Sustainable finance expert

Eva Ackuaku, the Head of Sustainable Financing at Consolidated Bank Ghana, has raised concerns about the ability of Ghanaian creatives to access funding opportunities due to poor documentation and lack of formal business structures. At the Climate x Culture Summit, she urged creatives, especially photographers and content creators, to formalize their operations and adopt sustainable financial practices in order to attract investment.

Despite Ghana's creative industry having significant economic potential, many practitioners remain in the informal sector, making it challenging for financial institutions to determine their eligibility for funding. Ms Ackuaku cited examples of photographers who have worked for years but are unable to provide basic documentation such as invoices and proof of business registration.

She questioned why creatives with established careers continue to operate without proper registration or bank accounts, emphasizing that such records are crucial for assessing their financial activities and determining their eligibility for support.