Focus on Africa month: Monetising African culture

To answer this, it is useful to understand the idea of monetising culture. Physical products that you buy in a store or online have a value. That is, the cost of the materials to make the product, the distribution cost and the sales cost. These are all quantifiable amounts.

The value of African cultureThe idea of putting a price tag on a culture is less easy to understand. In effect, the ‘price’ of a culture is the value assigned to its expression, whether that be through film, art, music or fashion. That value is determined by how much the viewer, listener or wearer is prepared to pay to ‘own’ that piece of culture. This amount is largely driven by perceived value than actual monetary value.