The African Export-Import Bank (Afreximbank), through its impact investment arm, the Fund for Export Development for Africa (FEDA), has announced the launch of the Africa Film Fund. A USD 1 billion private equity fund designed to transform the African film and creative industries.

Objectives and Scope of the Fund

To support the production, post-production, distribution, and exhibition of high-quality films and television series across Africa.

To strengthen the continent’s creative infrastructure in response to persistent challenges. These include a lack of production equipment, a shortage of advanced post-production resources, and insufficient operating infrastructure.

Unlock funding for African filmmakers to enable them to create globally competitive content and increase Africa’s visibility on the international stage.

Expected Impact

Cultural sovereignty catalyst: The fund aims to celebrate and amplify the diversity of African voices and experiences, asserting Africa as a central player in the global cultural conversation.

Job creation and economic transformation: The African film and audiovisual industry already generates over USD 5 billion in annual revenue and employs over 5 million people, yet its potential remains underexploited.

Strengthening the creative ecosystem: Beyond funding, the goal is to build a sustainable ecosystem that values African talent, fosters cultural exchange, and stimulates the continent’s economic growth.

Key Statements

Professor Benedict Oramah, President of Afreximbank and FEDA, emphasized that “film is a cornerstone of the Creative Africa Nexus (CANEX) program. The creation of the African Film Fund is timely, as it will help accelerate the growth of Africa’s creative sector.”

Marlène Ngoyi, Director General of FEDA, added: “This is about showcasing Africa’s creative talent, fostering cultural exchanges, and catalyzing economic transformation.”

Background and Ambitions

The launch of this fund is part of the Creative Africa Nexus (CANEX) program and follows the commitment made at CANEX WKND 2024 in Algiers. It signals a commitment to positioning Africa at the heart of the global creative economy by injecting capital to support the long-term growth of the sector.

Afreximbank’s Africa Film Fund represents a landmark initiative to address key challenges in Africa’s creative industry. It aims to transform the continent’s cultural landscape, increase the global competitiveness of its productions, and unlock the full economic potential of African creativity.