$1bn Africa Film Fund launched
The Fund for Export-Development in Africa has committed to spearhead the launch of the $1 billion Africa Film Fund.
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The Fund for Export-Development in Africa (FEDA), a unit of the African Export-Import Bank (Afreximbank), has committed to spearhead the launch of the $1 billion Africa Film Fund.
This move follows Afreximbank’s commitment in 2024 to launch a private equity film fund through FEDA to support film production and distribution across Africa as well as empower African filmmakers to create globally appealing content. The fund is expected to play a role in promoting the production and global distribution of high-quality films and TV series, further amplifying Africa’s cultural influence across the world. In doing so, the fund will be a catalyst to attract and direct crucial patient capital into Africa’s film and TV production industry, mobilising resources that would enable filmmakers and storytellers to produce world-class content that resonates globally.
The African film and audiovisual industry generates an estimated $5 billion in annual revenues and employs over 5 million people across the continent. However, the film industry on the continent has long faced challenges, including limited access to production facilities and equipment, a shortage of advanced post-production resources, and a lack of sufficient exhibition infrastructure, highlighted by fewer than 2,000 cinema screens and limited access to digital platforms.
Marlene Ngoyi, CEO of FEDA, emphasised the fund’s role in driving inclusive growth, stating that: “The Africa Film Fund is not merely about financing films – it is about building a thriving ecosystem that empowers global Africa’s creative talent, fosters cultural exchange, and catalyses economic transformation. At FEDA, we are committed to ensuring this initiative delivers tangible impact with long-term and sustainable benefits.”
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