Bank Alert for Ghanaian artists as GHAMRO shares GH¢900,000

Ghanaian musicians to experience a hike in their bank account balances as the Ghana Music Rights Organization (GHAMRO) schedules to commence the distribution of their royalties on Sunday, June 30 ,2019. This is in reference to a press statement issued by the Public relations officer of GHAMRO, Prince Tsegah who disclosed that an increased amount of Nine Hundred Thousand Ghana Cedis ( Gh¢900,000.00), indicating an increase of Two Hundred Thousand Ghana Cedis(Gh¢200,000) as compared to last year’s figure, will be distributed among it’s members.

Ghanaian musicians will be smiling their way to the bank from Sunday as payments will be made according to the regulation 29(1) of the L.I 1962 of the Copy right Law 2005. GHAMRO again is by law instructed to promptly and in any case not later than 6 months effect the payments, in view of which payments will be disbursed by mobile mobile transfer, cheques and banks transfers.

Payday For Musicians As GHAMRO Disburses Gh¢900,000, here is the full press statement:

PRESS RELEASE

For Immediate release

The Ghana Music Rights Organization (GHAMRO) wishes to inform its esteemed members’ that an amount of Nine Hundred Thousand Ghana Cedis (900,000.00) will be distributed starting from the Sunday June 30, 2019.

This is in accordance with regulation 29(1) of the L.I 1962 of the Copy right Law 2005 which states that “A society approved under these regulations may on behalf of its members take measures that the society considers appropriate for the collection of royalties and any payments to which members are entitled’’ and regulation 30 further instructs GHAMRO to pay royalties “promptly and in any case not later than 6 months.”

A summary of the breakdown of the earmarked amount of GHc 900,000 is as follows

1. Blank levy 578,089.31

2. Collection 299.990.69

3. Interest on investment 21,920.00

Available amount for distribution 900,000.00
It is instructive to note that the distribution amount has increased by Ghc 200,000.00 (Two Hundred Thousand Ghana Cedis ) as compared to the previous distribution last year. These increments of royalties were due to the prudent investments made by the Board and Management to augment the dwindling Blank levy amount paid by the State to GHAMRO.
Right Owners shall receive payments via the usual channels such as Mobile Money Transfers, Bank Transfers and over the Counter payments (Cheque).

Members who have not updated their bank/payment details with GHAMRO should kindly come over to the office for prompt attention
Any further information or queries on distribution should be channeled to the following numbers 0302228447, 0540122325/0540122326.

Signed

Prince Tsegah

Public Relations Head.

0244670554.

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