Africa Investment Fund Founder Urges Hollywood Strategy

Akunna Cook transitioned from a career as a Foreign Service officer to founding the Next Narrative Africa Fund (NNAF), a $50 million investment vehicle focused on film and television projects from Africa and its diaspora. Cook’s path included roles in China, South Africa, and Baghdad, followed by work on U.S.–Africa policy under President Biden, where she helped integrate policy issues into mainstream entertainment.

The Next Narrative Africa Fund

Cook established NNAF to address structural gaps in the African entertainment industry, including undercapitalized development pipelines, limited IP ownership for creators, and a tendency for global studios to treat African content as peripheral. The fund comprises $40 million in commercial equity and $10 million in nonprofit development funding. NNAF aims to ensure that African storytelling scales globally while prioritizing African ownership of the narratives.

Career Evolution

Cook’s career began as an economic officer at the State Department, focusing on Africa. After law school, she worked on redistricting with President Obama and former Attorney General Eric Holder, where she recognized the power of media in conveying policy issues. This experience led to her involvement with the Black Economic Alliance, examining the economic impact of African American representation in media. Returning to the State Department under the Biden administration, Cook advocated for recognizing Africa’s creative industries as strategically important, noting the continent’s young population and potential for global media influence.

Fund Initiatives and Selection Process

NNAF has quickly moved to establish itself, assembling a 13-member advisory board and preparing to unveil its first slate of six to 10 projects in March, selected from over 2,000 submissions across 80 countries. The fund’s structure includes a nonprofit venture studio focused on script development and a commercial entity investing in projects with global distribution potential. A key requirement for projects is that at least half of the production takes place on the African continent.

Global Appeal and Narrative Mandate

Cook emphasizes the importance of projects appealing to both local and global audiences, particularly the African diaspora. She believes that well-developed, high-quality content can transcend regional boundaries and resonate with international viewers. NNAF has a narrative mandate, discouraging projects that reinforce negative stereotypes and encouraging intentional engagement with issues like democracy, climate, and health.

Policy and Strategic Considerations

Cook is actively engaging with government leaders in Africa to advocate for policies that support the growth of the entertainment industry, such as film incentives and the development of production hubs. She highlights the strategic importance of Africa’s creative industries, noting China’s significant investment in the region and the need for the U.S. to maintain influence.

Future Outlook

Cook encourages Hollywood stakeholders to prioritize engagement with African content, recognizing the continent’s demographic weight and the growing global demand for non-Western entertainment. She envisions a future where African narratives play a central role in the global entertainment industry, shaping perceptions and driving economic growth.