The African Export-Import Bank, through its development-focused investment arm, the Fund for Export-Development in Africa, has launched a $1 billion Africa Film Fund aimed at transforming the continent’s film and creative industries.
The announcement was made on Wednesday in an official statement shared on the bank’s Instagram page.
Launched under the Creative Africa Nexus Programme, the fund is designed to support the production and global distribution of African films and television content.
It seeks to tackle the critical infrastructure and financing challenges that have hindered growth in the sector.
“African Export-Import Bank, through its development impact investment arm, the Fund for Export-Development in Africa, has committed to spearhead the launch of the Africa Film Fund (‘the Fund’) as part of its Creative Africa Nexus Programme. This transformative undertaking of up to $1bn is designed to revolutionise Global Africa’s film and creative industry,” the statement partly read.
According to the bank, the Africa Film Fund will be managed by FEDA as a private equity vehicle, offering long-term capital to support the creation of high-quality content and empower African storytellers to compete internationally.
President of Afreximbank, Benedict Oramah, stated, “Film is a cornerstone of the CANEX programme, and the establishment of the Africa Film Fund is timely as it will help accelerate the growth of Africa’s creative sector, which has witnessed rapid growth but continues to face significant challenges including funding, scaling and accessing global markets.
“Through investments in the film sector, alongside initiatives such as the CANEX Shorts Awards, Afreximbank is committed to celebrating and amplifying a diverse range of African voices and experiences, thereby catalysing the creative industry and unleashing its potential to drive economic growth across Africa.”
The Managing Partner of FC Media Group, Boris Kodjoe, said, “It has been a long-term dream of mine to be able to tell stories on a global scale. I am grateful and excited to partner with our friends at Afreximbank and FEDA in order to support quality content development and creation in Africa and beyond.”
