Via Semafor, commentary on the growing investment interest in African pop culture:

There has long been lip service paid to the idea that African countries have a rich and vibrant culture which has influenced many aspects of modern popular culture, particularly in the United States. But we have only recently started to see major players from big entertainment and music starting to put their money behind what was once just platitudes. That has occurred at the corporate level with some key investments but also in terms of production collaborations.

Now, even the U.S. government, not often considered a creative sector partner in Africa, is getting on board. Late last month in Lagos, the visiting assistant secretary of state for culture Lee Satterfield announced a film, music, and television project to strengthen U.S.-African creative economies. As well as the film and TV project we mention in our Stat below, the plans also include collaboration with the African music business.

At first glance, it could seem like the U.S. is coming on board after these African hubs have built their own global presence. But, to be fair to the State Department’s stated vision, this is probably more about capacity building with jobs than it is about discovering the next Netflix or Disney Plus hit. For example, there’s some emphasis on training “below-the-line” talent in the less glamorous roles like set designers and post-production staff.

But the Nigerian government, which hosted Satterfield, also sees a wider opportunity for creatives beyond the sector itself. “I think the U.S. can help us with unlocking capital here,” Obi Asika, director-general of Nigeria’s National Council for Arts and Culture, tells me. Asika thinks African financiers and investors can learn how to better evaluate intellectual property produced by local creatives. This isn’t a one-sided challenge of course, there will need to be some policy movement as well to help protect both sides of the equation, making it safer for both financiers and creators. But it will be worth it.