We can’t access FG’s loan package for Kannywood — Director

Kannywood Director, Kamal S. Alkali has described Federal Government’s loan package for the filmmakers of Hausa film industry alias Kannywood as unfriendly and inaccessible.

Alkali, who is the Chief Executive Officer (CEO) of Kamal Films International disclosed this on Friday in a telephone conversation with Daily Trust.

It would be recalled that the Federal Government through the Central Bank of Nigeria (CBN) and in collaboration with the Bankers’ Committee introduced the Creative Industry Financing Initiative (CIFI).

It is believed that CIFI would engage about 300,000 youths over the next five years in order for them to be self-employed and job creators.

Under the initiative filmmakers can access up to N30 million for movie production and N500 million for movie distribution.

But Alkali who won Best Director, City People Entertainment Awards in 2017 complained that despite having all the requirements, none of the Kannywood filmmakers was able to secure the loan since the launch of the initiative.

He said, “CBN said your movie company must have produced minimum of eight movies before you qualify to access the loan, the bank also said the payment of the loan will be spread for 10 years, the loan also involves collateral.

“We have all filled forms, we have provided our collateral, but the Bank Committee has reduced the payment of the loan from 10 years to two years. This makes the loan unfriendly and inaccessible,” he said.