Chocolate City Group launches US$1 million accelerator for African creative startups

Chocolate City Group (CCG) has opened applications for the inaugural Creative Economy Accelerator Programme under its Founders Fund Africa. The initiative targets early-stage startups operating in music, film and media, design, and creative technology across the continent.

Backed by a US$1 million fund unveiled during the company’s 20th anniversary in October 2025, the accelerator will select exactly 10 high-potential startups. The initiative was officially launched by Hannatu Musa Musawa, the Minister of Arts, Culture, Tourism and Creative Economy. Successful applicants will receive between US$20,000 and US$50,000 in direct funding, alongside structured mentorship and investor readiness support.

The programme is implemented by the Co-Creation Hub in partnership with investment advisory firm Argentil Capital Management Limited. This collaboration aims to identify entrepreneurs capable of building scalable, commercially viable businesses rather than purely artistic ventures.

The launch reflects a broader shift in how institutional capital views Africa’s cultural sectors. Gbenga Hassan, managing partner at Argentil Capital Management, stated that the region's creative economy is now "an investable sector with founders building commercially viable businesses across the continent." This marks a departure from viewing cultural ventures merely as speculative opportunities.

CCG leadership emphasizes that capital alone is insufficient for scaling creative enterprises in competitive markets. Co-Founder and Executive Chairman Audu Maikori stated the fund is designed to bridge the gap for founders who "still struggle to access the support they need to scale." He added that the initiative seeks individuals with the ambition to shape the future of Africa’s creative economy.

Prospective applicants will be evaluated on business model strength, market opportunity, innovation, and execution capability. Sylvester Ayisi, an investment principal at Argentil, advised founders to approach the process with clarity. He emphasized that the selection committee wants applicants to clearly articulate "the problem they’re solving, the strength of their business model, and their vision for growth."

Applications for the accelerator remain open until 28 August 2026. Founders can submit their proposals at www.foundersfundafrica.com as the initiative seeks to formalize investment pathways in a historically undercapitalized market.