MOVIES

AFREXIMBANK HAS LAUNCHED A $1 BILLION AFRICA FILM FUND AIMED AT REVITALIZING AND EXPANDING THE CONTINENT’S CREATIVE AND FILM INDUSTRY.
The African Export-Import Bank (Afreximbank), through its impact investment subsidiary, the Fund for Export Development in Africa (FEDA), has introduced a $1 billion Africa Film Fund aimed at transforming the continent’s film and creative sectors.
Launched under the Creative Africa Nexus (CANEX) Programme, the fund seeks to overcome persistent challenges in Africa’s film and television production landscape, particularly gaps in infrastructure and access to financing.
Afreximbank stated that the initiative is designed to tackle long-standing obstacles to the growth of the continent’s creative economy, especially the shortage of suitable infrastructure and the limited availability of sustainable, long-term funding for content creation.
President of Afreximbank, Benedict Oramah, described the newly launched Africa Film Fund as a timely and strategic initiative to address key challenges facing the continent’s rapidly expanding creative industry, particularly the shortage of financing and limited access to global audiences.
He reaffirmed the bank’s broader mission to champion African storytelling through a range of targeted initiatives.
“Through our investments in the film industry and initiatives like the CANEX Shorts Awards, Afreximbank is dedicated to celebrating Africa’s diverse voices and narratives. These efforts aim to spark growth within the creative sector and unlock its potential to drive economic development across the continent,” Oramah stated.
Structured as a private equity fund, the initiative is designed to finance both the production and global distribution of compelling African content.
Beyond Traditional Financing
FEDA CEO Marlene Ngoyi emphasized that the Africa Film Fund goes beyond simply backing productions—it seeks to nurture an ecosystem capable of sustaining the full spectrum of African storytelling.
“This fund is not just about financing films; it's about building a dynamic ecosystem that supports the creative talent of Global Africa, encourages cultural exchange, and drives meaningful economic transformation,” Ngoyi explained.
Renowned actor and FC Media Group Managing Partner, Boris Kodjoe, praised the fund as a long-awaited breakthrough for African storytellers.
“It has long been my dream to share African stories on a global stage. Partnering with Afreximbank and FEDA marks a significant step in realizing that dream, supporting the creation of quality content both in Africa and internationally,” said Kodjoe.
Viola Davis, acclaimed actress and co-founder of JVL Media LLC, echoed this sentiment, highlighting the emotional depth and authenticity of African narratives.
“African stories are profoundly human and powerfully resonant. This fund invites the world to see Africa through the lens of its own storytellers—raw, truthful, and vibrant. I’m honored to be part of this historic step toward a more inclusive global film landscape,” Davis said.
Industry Context and Outlook
Africa’s creative sector—led by powerhouses like Nollywood, and rapidly growing industries in South Africa, Ghana, Kenya, and beyond—continues to attract international interest. In 2024, Nollywood alone contributed 39% (₦2.8 billion) of the ₦7.4 billion total box office revenue in Nigeria.
Despite this growth, the industry has long faced structural challenges, including limited access to sustainable financing, inadequate post-production infrastructure, and barriers to international distribution.
By channeling long-term investment through the Africa Film Fund, Afreximbank aims to close these gaps, enabling African creatives to deliver world-class content that captures the continent’s cultural richness and expands its presence on the global stage.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board