Kikwete advises Bongo Flava artists to invest their earnings
What you need to know:
- In an interview with Wasafi Media on June 25, the former president said that Bongo Flava may eventually become less popular as people embrace new genres.
Former President Jakaya Kikwete has emphasised the importance of Bongo Flava artists investing their music earnings to sustain their careers.
In an interview with Wasafi Media on Tuesday, June 25, the former president said that Bongo Flava music might eventually fade as people embrace new genres.
"During this period, artists should use their earnings to invest and generate more income so that they can continue to live stress-free even after their music careers end," said Mr Kikwete.
He warned that artists who fail to recognise this might resort to selling off assets like houses and cars to sustain their lifestyles.
"They must invest in something that will continue to generate income for them. Their counterparts around the world invest in the stock exchange, but if they do not realise this early, they will end up chasing money when it is not available," he explained.
Mr Kikwete also attributed the current artists' substantial incomes to their awareness of their rights, unlike in the past.
He stressed the importance of financial literacy and prudent investment to secure long-term financial stability beyond their music careers.
