Lagos, Nigeria (CNN) Award-winning music artist, Mr. Eazi is launching a fund that will invest in Africa's stars of the future. Mr. Eazi, (real name Oluwatosin Ajibade) told CNN that the Africa Music Fund (AMF), is worth $20 million dollars. Mr. Eazi says one of his primary motivations for funding music is to provide financial support for artists to expand their catalog. Investing in music actsSelected artists will be given funding depending on their revenue and projected incomes, using metrics such as streaming revenue, Mr. Eazi told CNN. The initial advance invested in an artist's music will be paid back in installments as the artist's earnings start to rise, he added.

Source: CNN July 17, 2020 15:37 UTC