Franco bankrupt
Goitsemodimo Kaelo | Friday March 5, 2021 15:58
Franco as he is known, was planning to fill up the National Stadium with his Soul Fill-Up With Franco festival.
The rhumba legend had revealed that he was targeting between 15, 000 and 20, 000 people at the festival.
However, that dream was shattered by the outbreak of the COVID-19 pandemic, which left the musician reeling.
Looking at the masses that the artist targeted for his festival, Franco was poised to become an instant millionaire, had the event being a success. At the time, Franco’s early bird tickets sold for P100 each, therefore in a scenario where he would have sold 10, 000 tickets, for example, he would have made a million before he even sold the rest.
Although there are so many factors like paying the venue, sound and stage, performers, and covering the turf at the stadium, Franco was likely to spend more, but he surely would’ve made more profit if sponsors jumped on board.
That was just about it. A dream cut short before it even started. A year on since he was “robbed of his dream”, Franco’s situation is troubling and heartbreaking, as he count loses without any hope of recovery. Franco says he had already spent over P300, 000 as part of preparations for the festival, which he was certain he would recover after the April, 4, 2020 event. He had drawn from his savings to fund what probably would have been the biggest festival of his music career spanning more than two decades.
Now, Franco says sometimes he doesn’t even have the courage and confidence to come out his place. He said the loss of income of over the past 12 months has devastatingly pushed him into debts and turned him into a beggar. “I thought I have experienced the worst, but this is something else. I cant even find words to describe how I am and my situation.
We have been badly affected. I’m officially bankrupt and have now resorted to selling some of my stuff to get money to put food on the table. I have already paid P172, 000 for the stadium and spent a little over P200, 000 on the activations and merchandise,” he said in an interview.
According to Franco, it is even more difficult and devastating because there are people who depended on him for many years, being his band, Afro Musica.
“You can imagine what this people are going through if it is tough on my side. I cannot even sleep at night when I think of the situation. We have turned to people for support, especially some of my loyal fans who have assisted us, but it still not enough.
We have organised football games and sold food to raise funds, but that did not work out as we were recently charged for allegedly breaking COVID-19 regulations. I don’t know what else to do. I’m always asking myself when this will end,” he added.
The Ke Lela le Lona hitmaker said they had a glimmer of hope when the vaccine was first mentioned but that was short-lived as President Mokgweetsi Masisi tightened regulations on mass gatherings.
He also said the music industry has been the hardest hit by the pandemic as such needed government support like other industries. “We have all lost hope. We are in serious debts and have nothing to do,” he said in a voice of a man who has given up.
With more than 17 albums under his belt, Franco said this has been the toughest period of his career, but it has also provided a lesson for the local artists to invest wisely throughout their careers.