The African Export-Import Bank (Afreximbank) has announced a $1 billion Africa film fund aimed at transforming the continent’s film and creative industry.
Disclosed in a statement on the bank’s website, the fund was launched under its Creative Africa Nexus Programme (CANEX), and will be financed through its development impact investment arm, the Fund for Export-Development in Africa (FEDA).
This initiative builds on the bank’s commitment made during the CANEX Weekend (CANEX WKND 2024), held in Algiers, Algeria, in October 2024. At the event, the Bank announced plans to launch a private equity film fund through FEDA, targeting film production and distribution across Africa. The goal is to enable African filmmakers to create content that resonates globally.
The fund aims to address challenges such as limited access to production facilities and equipment, shortage of advanced post-production resources, and lack of sufficient exhibition infrastructure, all of which continue to hinder the African film industry despite revenue generation and job creation.
Commenting on the development, Benedict Oramah, President of Afreximbank, stated:
“Through investments in the film sector, alongside initiatives such as the CANEX Shorts Awards, Afrexiimbankis committed to celebrating and amplifying a diverse range of African voices and experiences, thereby catalyzing the creative industry and unleashing the creative industry’s potential to drive economic growth across Africa.”
Marlene Ngooyi, CEO of FEDA, noted that the fund’s objective extends beyond film financing. She described it as a catalyst for building a sustainable film sector that empowers Africa’s creative talents and supports broader economic transformation.
Viola Davis, co-founder of JVL Media LLC, welcomed the initiative, saying it provides opportunities for African creators to thrive on a global scale, creating a more inclusive global film industry.
