Kofi Asamoah Demands Accountability for GHS 20 Million Film Fund

Kofas Media CEO warns that film fund’s success depends on transparent financial management.

Kofi Asamoah, CEO and Creative Director of Kofas Media, has called for strong accountability measures to sustain Ghana's GHS 20 million National Film Development Fund. He stated that the fund's long-term success hinges on responsible disbursement and measurable returns. This comes after the National Film Authority launched the fund on May 20 at Silverbird Cinema in Accra. Mr. Asamoah welcomed the fund as a significant step to position Ghana's creative industry as a serious economic sector. He stressed on Starr 103.5FM's Starr Showbiz that its sustainability relies entirely on transparent management. He cautioned that without clear accountability, the initiative risks losing credibility and failing to attract sustained investor interest. Ghana's creative industry contributes significantly to cultural identity and employment opportunities. However, it has historically struggled with inconsistent funding and formal investment structures. The GHS 20 million film fund seeks to address these challenges, aiming to transform the film and audiovisual industry into a globally competitive sector. This investment aligns with broader government efforts to diversify the economy beyond traditional sectors like mining and agriculture. Mr. Asamoah emphasized that the fund should not be viewed as "free money." He stated, "It's not free money. The focus of the fund is not just to give back money. It is an investment, and there has to be a return on whatever monies are being given out." This highlights a shift towards treating the creative sector as a viable economic venture rather than a purely cultural endeavor. The establishment of the Film Development Fund Management Committee earlier will play a critical role in enforcing oversight. Transparent reporting of how funds are disbursed and utilized will be essential for maintaining public trust. This transparency will also help attract continued support from both government and private sector stakeholders. Decision-makers and industry players will closely watch the fund's management for signs of effective governance. Its success could unlock further investment and establish a template for other artistic initiatives in Ghana. Clear accountability structures are vital to ensure the fund achieves its objective of strengthening the film industry. Regular updates on disbursements and their impact are necessary for investor confidence and the fund's long-term sustainability. The implementation framework must keep accountability central to its operations. This approach can help Ghana's film industry grow into a significant economic driver.

Kofi Asamoah Demands Accountability for GHS 20 Million Film Fund

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