The African Culture Fund is an idea whose time has come…
An idea long brooded by actors and partners of the cultural and creative sector in Africa but which today is a reality.
This is a decades-long struggle for the financial empowerment of cultural, creative and scientific institutions in Africa and its diaspora.
Indeed, the absence of adapted mechanisms with adequate resources to fund projects of African artists and cultural entrepreneurs is one of the major challenges undermining the development of the cultural sector across the continent. Private sector investment in the culture sector remains very limited and not fully controlled.
Several African States made efforts to raise the budgets for culture, growing opportunities for arts and culture funding (foundations, international organizations, etc.). However, these funding sources are very fluctuating, arbitrary and scattered. This situation makes Culture funding very complex both for financial partners and project owners. The establishment of a continental fund for Arts and Culture is therefore a priority.
This new concept of African Culture Fund is to the credit of great visual artists from the Continent who understood the issue and felt the time to move towards the empowerment of the African cultural and creative sector. The Fund’s challenge is to be able to support the diverse needs of the sector, at all levels of the value chain of the various sectors of the cultural and creative industries, vectors of economic, social and human development.
So, coming from a shared desire among artists, entrepreneurs and funders, the establishment of the African Culture Fund is a vital project which will contribute, beyond stimulating creation, to the economic development and promotion of cultural rights and cultural diversity in Africa.