Multi-talented artiste, Mr. Eazi has unveiled an empowerment fund for future Africa’s stars.
The fund called Africa Music Funds (AMF) was unveiled by the singer in a recent interview.
Mr. Eazi spoke on the fund, creating awareness on the importance of African artistes having the right financial resources invested in their craft.
The fund said to be worth $20 Million is motivated by the need to provide financial support for artists to expand their catalogue.
According to Mr. Eazi, many investors and financial institutions don’t understand the business of music and as a result, are unable to properly fund musicians.
“Artists cannot go to banks to get money for their music because financial institutions don’t understand how to secure intellectual property.
“They get it for physical properties but not for music. So, because not a lot of people understand the music business, there is no finance product for musicians,” he said.
While admitting that the biggest players in the African music industry are not from Africa, hence he wants to create a space for music stars on the continent to become a significant part of the industry, the singer said:
“I want to look back and be fulfilled knowing that I contributed to getting African equity participation in the music infrastructure that has been built on the continent.”
Mr. Eazi also revealed his plans to ensure the African music industry evolves to become one where Africans are the owners of their own content and intellectual property.
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