The present document outlines the findings of a pivotal study commissioned by the West African Economic and Monetary Union (WAEMU) Commission to establish a dedicated Mechanism for the Promotion of Cultural and Creative Enterprises and Industries within the sub-region. This initiative represents a significant step forward in recognizing and supporting the economic potential of the cultural and creative sector.

Study Mandate and Execution

The study was carried out between 2019 and 2020 by an expert assigned by the consultancy firm, ALG, acting on behalf of the WAEMU Commission. The core objective of this consultancy, as defined by the terms of reference, was to lay the comprehensive groundwork necessary for the successful creation and operation of the mechanism. Specifically, the expert’s mission was threefold:

1. Defining the Frameworks: To meticulously define the technical, organizational, and management frameworks that would govern the mechanism’s operations, ensuring efficiency, transparency, and relevance to the needs of the cultural sector.
2. Developing Legal and Financial Aspects: To develop the necessary legal instruments and delineate the financial architecture required for the effective and sustainable establishment of the mechanism, including identifying funding sources and disbursement protocols.
3. Preparing Specifications: To prepare detailed specifications and guidelines for the potential managers and investors who would be involved in operating and capitalizing the mechanism, ensuring clarity on roles, responsibilities, and expected performance metrics.

Contextual Rationale: The Imperative of Financing

The impetus for this study and the subsequent creation of the mechanism is deeply rooted in the broader reflection surrounding the financing of cultural enterprises in the WAEMU zone. The issue of funding has consistently been central to the Union’s strategy, notably leading to the adoption of the WAEMU Cultural Development Policy in 2013 and its subsequent Program in 2015.

A critical turning point was the 2013 symposium held in Ouagadougou on the theme, “Investing in Culture.” This landmark event gathered cultural entrepreneurs from across the sub-region alongside key partner institutions of the Commission. The central discussion at the symposium revolved around exploring and defining appropriate, sustainable avenues to finance the growth of cultural enterprises that could serve as a viable alternative or complement to traditional subsidies. The consensus was that greater financial innovation and structural support were necessary to unlock the sector’s full economic potential.

The Consultancy and Implementation Phase

Following the recommendations generated by the 2013 symposium, and driven by a need for a detailed assessment of the financing challenges within the Member States’ cultural sectors, the Commission contracted ALG’s services. The official title of the study was: “the legal and financial aspects and Assistance with the creation of the mechanism for the promotion of cultural and creative enterprises and industries in WAEMU.”