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Mr. Eazi Launches $20 Million Fund For African Music

Nigerian award-winning artist/entrepreneur, Mr. Eazi, is launching a fund to directly invest in the future of African music. Mr. Eazi, (real name Oluwatosin Ajibade) has secured a deal worth $20 million dollars with lead investor 88mph, a company that provides capital for African businesses. Through the African Music Fund (AMF), the 29-year-old artist wants to create a new funding model to empower the next generation of African musicians.

According to the AMF press release, its initial round has raised $20 million. The goal is for creators to invest in their craft, without the financial burden of production. This fund will be open to both upcoming and established artist. Grant winners will partner with Cinch Distro, a digital distribution service conceived by emPawa Africa, to distribute and expand their content. EmPawa Africa was a similar grant initiative created by Mr. Eazi in 2018.

Funding for each selected artist will be based on projected incomes and artist revenues. This initial advance will be paid back in installments as the artist’s earnings and audience increase.

The most notable factor is that every artist that participates will still own there content and intellectual property. Mr. Eazi hopes that, in time, he can cultivate a space where the biggest stars on the continent, are from the continent.