CULTURE MANAGEMENT GROUP PARTNERS WITH AFREXIM BANK FOR AFROFUTURE FESTIVAL 2023

CULTURE MANAGEMENT GROUP PARTNERS WITH AFREXIM BANK FOR AFROFUTURE FESTIVAL 2023
AfroFuture co-founder and CEO Abdul Karim Abdullah.

Written By Priscilla Boakye


Afrofuture, formerly known as Afrochella is an African music festival that started in 28 December 2017 in celebration of Africa’s diverse culture and the vibrant work of African creatives and entrepreneurs.


The festival is designed to elevate and highlight the thrilling and thriving millennial talent in Africa by introducing an interactive event that teaches, explains and explores various cultures through a pioneering approach. Afrofuture intention for their target audience is to experience art and creative activation from the continent, celebrate African music, and taste premium and cultural cuisine.

Recently, Culture Management Group (CMG), the parent company of Ghana-based AfroFuture festival, has secured a $2m financing facility from the African Export-Import Bank (Afreximbank) aimed at fostering the growth of CMG’s ventures in Africa. Afreximbank was established in October 1993 to finance and promote intra-and extra-African trade. This deal has sparked a conversation on why the Bank will go this length to invest an enormous amount in the expansion of AfroFuture. or have an interest in arts.

According to Gabriel Mayera, CMG confirmed the development on 15th November, 2023, adding that the formalisation of its partnership with Afreximbank is the result of three years of work.

On behalf of the entire AfroFuture team, we are beyond thankful for the support we have received,’’ a statement reads. The news coincides with Afreximbank’s executive VP in charge of Intra-African Trade Bank, Kanayo Awani, reiterating an increase in creative sector financing from $500m to $1bn, with a pipeline exceeding $600m in various deals, including music, film, visual arts, fashion and sports.

In 2019, Afrofuture contributed $2.1 billion to tourism revenue during the Year of Return, earning recognition as a key influencer in Ghana's international perception. The festival's co-founders were appointed Goodwill Ambassadors of Tourism for their impactful contributions.

 It’s probably of this achievements of the organisation that is making reputable brands to want to partner with them.

This year’s edition, scheduled for December 28-29 at the El Wak Sports Stadium in Accra, Ghana, is expected to attract over 30 000 attendees, featuring headliners like Davido, Ghana’s Black Sherif, and British-Gambian rapper J Hus.

This year’s theme is dubbed Black Unification & Pan Africanism, which organisers say “honours the achievements of black pioneers throughout the diaspora and highlights their contributions to art, culture and innovation while unpacking issues like global connections and shared experiences among Africans and pan-African history, and the diaspora’s political role.”

Comments

More From 3Music News

Diddy Accused of Sexual Assault By Producer Rodney Jones

Diddy Accused of Sexual Assault By Producer Rodney Jones

Diddy has been accused in yet another lawsuit for sexual assult by renowned music producer Rodney Jones.

Malia Obama Debuts in New Movie Under New Moniker

Malia Obama Debuts in New Movie Under New Moniker

Malia Obama, daughter of Barack and Michelle Obama, debuted her film, The Heart, at the 2024 Sundance Film Festival.

Australian Photographer Accuses Taylor Swift’s Dad of Punching Him in The Face on Sydney Waterfront

Australian Photographer Accuses Taylor Swift’s Dad of Punching Him in The Face on Sydney Waterfront

An Australian photographer, Ben McDonald has accused Scott Swift, father of Taylor Swift of assault.

Universal Music Group Makes Majority Investment in Nigeria's Mavin Records

Universal Music Group Makes Majority Investment in Nigeria's Mavin Records

Universal Music Group (UMG) Secures Majority Stake in Nigeria's Mavin Records

GITFiC Raises Concerns Over Ghanaian Cedi Depreciation Despite Government Interventions

GITFiC Raises Concerns Over Ghanaian Cedi Depreciation Despite Government Interventions

Concerns Rise as Ghanaian Cedi Faces Challenges Despite Government Efforts, GITFiC Urges Strategic Solutions

Viral Omah Lay Fan Renders Public Apology and Tells Side of Story

Viral Omah Lay Fan Renders Public Apology and Tells Side of Story

Jessani, the woman who found herself in the spotlight after a video of her dancing with Nigerian artiste Omah Lay went viral, has decided to address the controversy surrounding the incident.

Renowned Entrepreneur Lady Dentaa Amoateng MBE Appointed to Concordia Advisory Council

Renowned Entrepreneur Lady Dentaa Amoateng MBE Appointed to Concordia Advisory Council

Lady Dentaa Amoateng MBE, the well-known Ghanaian-British entrepreneur and philanthropist, has recently joined the esteemed Concordia Advisory Council.

CEO of Flokefama Donates Essential Medical Equipment to the University of Ghana Medical Centre (UGMC)

CEO of Flokefama Donates Essential Medical Equipment to the University of Ghana Medical Centre (UGMC)

Mr Emmanuel Kwabena Kenney donates some equipment to the University of Ghana Medical Centre, UGMC.

Can Salah Steal the Spotlight in the League Cup Final? Liverpool's Ljinders Holds onto Hope

Can Salah Steal the Spotlight in the League Cup Final? Liverpool's Ljinders Holds onto Hope

Will Salah Shine in the League Cup Final? Liverpool's Ljinders Shares Hopeful Outlook

Black Queens Face Uphill Battle After Defeat Against Zambia

Black Queens Face Uphill Battle After Defeat Against Zambia

Black Queens Gear Up for Redemption After Tough Loss to Zambia

Ibrahim Osman spills the beans on why he's rocking Brighton

Ibrahim Osman spills the beans on why he's rocking Brighton

Ibrahim Osman gives his reason for choosing Brighton.

GSS Reveals Over 500 Thousand Ghanaians Faced Job Loss in 2022 & 2023

GSS Reveals Over 500 Thousand Ghanaians Faced Job Loss in 2022 & 2023

Reports reveal that more than 500 thousand Ghanaians became jobless in the 2022/2023.

More Similar Videos

No similar videos to show related to this post. Explore other sections.