DMCE, chordCash launch fund for African artists

Founded in 2018, DMCE is a fully operational catalogue administration, intellectual property acquisition, licensing, and rights management company based in Lagos, Nigeria with subsidiaries in Ghana and Tanzania

chordCash, on the other hand, offers patented technology to aid artists to get advances on their streaming royalties.

Orinfund is a creative investment vehicle tasked with establishing a pan-African vault of valuable creative assets. It help artists and labels gain control of their intellectual property while providing funds to thrive in emerging markets. It can be accessed via this link.

“With the accelerated popularity of African music globally, it is important that we develop our structures locally to support the global expansion of our artists,” DMCE president Oyinkansola Fawehinmi said. “In a continent of 1.4 billion plus people with 70% of its demography under 30, intellectual property is the next gold mine of the continent with music as one of its forerunners. It is therefore important to create a decentralised marketplace for access to funds at whatever career level for an African artist.

“I am excited to be working with several partners in creating unique financial solutions for each market. chordCash has taken an early bet in the market and I am certain of its success.”

chordCash head of partner activation and growth marketing Eric Palumbo noted that his outfit is honoured by the partnership, saying: “Independent African musicians will have access to funding that helps expand their global reach without having to sacrifice ownership of their music or control of their careers. Our data-driven funding model combined with DMCE’s expertise in intellectual property will make Orinfund a powerful new resource available to artists looking to take the next steps in their career growth.”

DMCE offers catalogue administration services to notable Nigerian music industry names, including K1 De Ultimate, The Estate of Dagrin, Sola Allyson, Premier Records and the Estate of Chief Sikiru Ayinde Barrister, among others.

The company is also involved in the business management of hyperlocal record labels such as Remdel Optimum Communications which is affiliated with top gospel artists like Tope Alabi, Bola Are, Daniel Aregebesola, as well as evangelists Bisi Alawiye and Dunni Olanrewaju.