In a world where businesses are increasingly viewed as engines for social good, the role of enterprises in driving sustainable and inclusive growth is gaining renewed attention.
Through their various impact, privately owned businesses and organizations have positioned themselves to become indispensable parts of the economy. In developing countries, these thriving businesses are regarded as the powerhouse for the country’s growth through the new wave of employment opportunities and socioeconomic development they provide.
According to the World Bank, Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries. They account for most businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses, more than 50% of employment worldwide, and contribute to 40% of national income (GDP) in emerging economies. Against this background, it is evident that a shortage of skilled workers poses an impediment to corporate investment and national development.
Today, we’ll be taking a look at one of the institutions playing a key role in driving Nigeria’s future development by empowering the youths – Terra Academy for the Arts (TAFTA). TAFTA, still in its early beginnings, is standing at the forefront of empowering the next generation of creative minds, propelling them towards socioeconomic impact and success. Before we dive into the depths of the academy and the vision driving it, let us explore first the wider context in which it operates.
Skill constraints have proven to negatively affect labour productivity and hamper the ability to innovate. For individuals, not having ‘the right skills’ limits employability prospects and access to quality jobs. For firms, skill shortages mean longer time with unfilled positions or the recruitment of workers with inadequate skills. For national economies, persistent skill gaps and incompetency come at economic and social costs. Without the necessary skill sets, businesses cannot thrive in this competitive world.
The Nigerian arts sector is not an exception. In 2022, Nigeran cinema operators recorded total revenue of N6.94 billion, a significant increase (46.41%) when compared to the N4.74 billion revenue generated in 2021. It has also been claimed that with a financial value of over $6.4 billion, Nollywood ranks second as the fastest-growing movie industry globally and is one of the biggest employers of labour in the country. Despite this, its potential of developing Nigeria socially and economically is insufficient as the sector lacks qualified skilled workers to perform effective work.
To fully unleash the potential in the arts and creative sector, there is a need to formally train youths to improve their technical and entrepreneurial skills. Subsectors in the creative industry such as performing arts, animation, videography, and visual arts, alongside more technical segments such are stage lighting and sound design which are currently dominated by few skilled youths can be effectively utilized through the right support and investment to improve the economy.
Terra Academy for the Arts (TAFTA), the brainchild of the renowned filmmaker, theatre producer, and culture entrepreneur, Bolanle Austen-Peters, is one of the institutions championing efforts to empower youths for socioeconomic impact in the nation. Since its inception, TAFTA has trained over 3,000 students across key sub-sectors of theatre arts and business. With an understanding of the increasing national awareness of the immense potential (inclusive job creation opportunities and sustainable economic growth and development) of the creative industry, TAFTA launched a platform to formally equip emerging talents with the necessary skills to succeed in a competitive industry and achieve socio-economic independence.
With this initiative, TAFTA is creating an e-learning platform that aims to provide quality education and impressive employment opportunities to the most vulnerable youth (aged 16-35 years) in Lagos, Ogun, and Kano states. With a focus on women, TAFTA provides foundational training, support, internships, and linkages to employment opportunities and financial services. The academy understood the realities of a developing country and has also established physical learning centres across the three states to enable participation by those who cannot access the internet or compatible devices.
Undoubtedly, no company or industry is an island that exists independently. The unprecedented challenge of the skill gap that occurs in all sectors is difficult for an individual sector to tackle alone. To help solve this challenge, organizations from different sectors need to work together and collaborate to achieve effective outcomes for sustainable growth. Over time, partnerships have proven to be the lifeline of successful business strategies and sustainable development in society. With a variety of fields in the creative industry, partnering with multilateral institutions, international and local foundations, and financial institutions as funding and collaborative partners would significantly improve the sector.
Recognizing the value of collaborative efforts, TATFA has leveraged partnerships with NGOs, universities, and state governments to provide access to the physical centres, partnered with educational institutions and industry experts for top-notch educational impact, partnered with agencies to improve employability opportunities for graduates, and partnered with other key stakeholders to provide access to necessary financial services. They recently announced a partnership with First City Monument Bank (FCMB) to provide soft loans with flexible terms to its students.
The creative academy is offering an impressive opportunity for youths looking to transform their lives and the nation by strengthening their skills through quality education. Requiring only a senior secondary school qualification, the free-to-attend program is easily-accessible by most. All courses will include an introductory section and a business/entrepreneurial module for students. The courses to be taught during the program include animation, scriptwriting, stage lighting, and sound design.