September 23, (THEWILL) – To commemorate its 20th anniversary, Chocolate City, a Nigerian music label, has pledged a $1 million empowerment fund to support creatives. In an interview with Arise TV, Paul Okeugo and Audu Maikori, the music label founders, reflected on their journey, citing financial struggles and limited investment in the creative industry when they established Chocolate City.
“It’s part of our 20-year celebration, I mean, this year, we are 20 years in business as most people know. It’s been an interesting journey. We recall that when we started, there weren’t many people who were looking to invest in the creative industry. In fact, it was so nascent that at the time, when you started a business in the creative industry, it was like you’re taking a big risk, it was a punt, it was like, why don’t you do something more stable like law, medicine. So, we took a risk, and it was hard to get funding most times, and so we had to take jobs that we didn’t want to fund the business, we had to do that. We didn’t get any support until maybe three or four years into our business when we got some support from a media network. I think it was in Kenya, I don’t remember the year, but we got $50,000 at that time to help us and that really made a big difference to us at the time. So we thought what better way, sort of, to give back,” Okeugo said.
Maikori revealed that 50% of the fund will be allocated to female entrepreneurs and artistes, emphasizing the importance of leveling the playing field.
“And you know that with women, it’s a bit harder to go into business, access funding. We’ve heard stories of women being harassed because they want to do something amazing, and we think that women are the bedrock of any nation. The idea is that we’re going to grow the fund over time. We’re starting off in Nigeria, we’re going to spread to Africa over time. Because right now, our culture is a global phenomenon. It’s our food, it’s our fashion, it’s our swag. So the idea then is that we’re dealing in a global economy, so we cannot just keep it local. We’re focusing mainly on film, on music, on content creation, and also gaming/e-sports. And the reason why is that these are very skill able businesses and verticals. But the other reason why is that we think that the creative economy has the most promise in the short term for gainful employment for young people.”
Chocolate City, founded in 2005, has been home to notable artistes such as M.I Abaga, Nosa, Dice Ailes, Blaqbonez, CKay, Ice Prince, Jesse Jagz, and DJ Lambo. The label’s signees recently released a joint single ‘Chocolate City Cypher’ to mark the 20th anniversary.
