While South African promoters testify to the financial viability of the music industry, the man behind African Attire, David ’52’ Letshwiti says Botswana’s music industry has a long way to go to reach profitability.
Letshwiti said this during a panel discussion at the 5th annual Botswana International Music Conference (BIMC)last week at Grand Palm. The panel discussion themed ‘Is the music industry financially viable?’ sought to dissect and take on the economic feasibility of the music industry.
Bofelo Kgaodi facilitated the discussion with panelists being South African promoters Sakhele Mzalazala, Lebogang Mlangeni and Botswana’s David ’52’ Letshwiti.
According to Letshwiti, there are a number of factors that obstruct our local music industry. These Include, a lack of collaboration by promoters and artists as well as a lack of investment support from local companies and government.
“I have been doing African Attire for 5 years now and we make about a million every year, yet at the end of it we are broke. Because of the lack of support from government, fans and other stakeholders we have to carry burdens of events management on our own as promoters. ”
He underlined Covid19 as a huge setback for the music industry as it heightened the cost of planning and hosting events.
Nonetheless, Letshwiti says there is an opportunity to thrive financially in the music industry.
” There is no one who is going to come and rescue our industry. So we need to come together as promoters and do the funding for ourselves, that’s the only way we will make profit.”
Sakhele Mzalazala also emphasized on the importance of unity among local Promoters and encouraged them to also work with international ones to grow their brands further.
