Artbank, a cultural bank

Transmission through solidarity

Information

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Dakar - Sénégal email : rakatababy@gmail.com
SN Senegal
Web Unknown
Maturity

Concept

About the project Edit

ARTBANK is an initiative of the Association des Diffuseurs Artistiques et Festivals du Sénégal (ADAFEST), an association of Senegalse artistic presenters and festivals. In the particularly difficult context of training in the arts and culture (lack of or insufficient professional structures), we thought of putting in place a transfer of knowledge system between those who have the knowledge to share with those who want to receive it.

ARTBANK’s principles:

- professionals from any and all artistic disciplines sign up and “open” an account where they deposit a “time credit” per hour worked that they put at our disposal for free, whether to lead a workshop, for an hour of studio recording, an hour for a photo shoot, project administration, budget or business plan elaboration for cultural projects, an hour for an accompanying instrument in studio, etc.

- youth groups or artists who have a need in a specific area also open an ARTBANK account to obtain loans.

- “credit committee” acts on proposals and requests which leads to allocation

So a young band that is having trouble getting into a studio could receive 4 hours or 4 hours in studio with professional musicians to complete an album. The group could use the services of a professional photographer for the album cover. An association who is having trouble building a business plan could get help, etc.

Very soon, the ARTBANK project will be connected to our future shared micro-financing dedicated to the arts and culture, an institution to specifically finance cultural projects.

Professionals who give significant “time credit” to ARTBANK may take out a financial loan for their own projects. Instead of being reimbursed in cash, they would be reimbursed in “time credit” that would be used in financial terms.

Themes

In what ways is this project unique and creative? Edit

A true social academy of knowledge, ARTBANK is a solidarity model of knowledge sharing and transmission.

What is the social value of this project? Edit

Going back to the primary values of solidarity, ARTBANK creates a space of “giving” and “receiving” based first on generosity.

What is the potential of this project to expand and develop? Edit

Initial communication around the project showed a booklet of professionals from all sectors donating their time for support on a national scale.

What was the triggering factor of this project? Edit

With a youth population of more than 60% (on close to 14 million residents), more and more young people are attracted by the arts and culture. Unfortunately, there is no formal socialized support process that allows for full development.

What is the business model of this project? Edit

By supporting young creators to produce in very good conditions, ARTBANK invests in the quality of its products which makes it very competitive on the market.


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