Creatives seeking funding from traditional financial institutions must move beyond passion and focus on hard metrics, according to Yinka Ijabiyi, a veteran executive from First Bank. During the “Money Moves” fireside chat, Ijabiyi offered a candid look into the banking sector’s perspective, emphasizing that due diligence requires three core elements from any creative proposal.
Ijabiyi, who has managed multi-billion Naira marketing budgets, stressed that the primary concern for a bank is value. This value is measured not just in artistic merit, but in the potential for increased customers, deeper share of wallet, and brand loyalty. “We must also first and foremost be able to crunch the numbers and see that they make sense,” he asserted.
The second metric is a sustainable model. Ijabiyi questioned whether a creative could replicate their success after an initial funding round, noting that many proposals lack the long-term structure required for sustained partnership. Finally, he highlighted the need for guarantees and proper packaging. Given the tightly regulated nature of financial services, creatives must present their projects in a way that minimizes risk and provides assurance to investors.
Ijabiyi’s message was a direct challenge to the creative industry to professionalize their approach. He suggested that instead of solely seeking sponsorship, creatives should focus on building robust, bankable enterprises that can withstand scrutiny and offer clear returns on investment.
