The African Export-Import Bank, through its development impact investment arm, 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 industry.

This announcement was made on Wednesday in an official statement shared via the bank's Instagram page.

Launched under the Creative Africa Nexus (CANEX) Programme, the fund is designed to support the production and global distribution of African films and television content, tackling key infrastructure and financing obstacles that have hindered sector growth.

The statement reads, “The African Export-Import Bank, through its development impact investment arm, FEDA, is leading the launch of the Africa Film Fund as part of its Creative Africa Nexus Programme. This transformative initiative, valued at up to $1 billion, is set to revolutionize the global African film and creative industry.”

The Africa Film Fund will be managed by FEDA as a private equity vehicle, offering long-term capital to create high-quality content and enable African storytellers to compete on a global scale. 

Afreximbank's President, Benedict Oramah, remarked, “Film is a key element of the CANEX programme, and the establishment of the Africa Film Fund comes at a crucial time, as it will help accelerate the growth of Africa’s creative sector, which has seen rapid expansion but still faces significant challenges such as funding, scaling, and access to global markets.”

He added, “Through investments in the film sector, along with initiatives like the CANEX Shorts Awards, Afreximbank is dedicated to promoting and amplifying a wide range of African voices and experiences, driving the creative industry forward, and unlocking its potential to boost economic growth across Africa.”

Marlene Ngoyi, the Chief Executive Officer of FEDA, emphasized that the initiative is not just about financing films.

“The Africa Film Fund is more than just financial support for films – it’s about creating a thriving ecosystem that empowers Global Africa’s creative talent, encourages cultural exchange, and drives economic transformation,” she stated.

Boris Kodjoe, the Managing Partner of FC Media Group, shared his excitement, saying, “Telling stories on a global scale has always been a long-term dream of mine. I’m grateful and thrilled to collaborate with Afreximbank and FEDA to help support the development and creation of quality content in Africa and beyond.”