The African Export-Import Bank (Afreximbank) has unveiled a $1 billion Africa Film Fund aimed at transforming Africa’s film and creative sectors. The fund, launched through Afreximbank’s development arm, the Fund for Export Development in Africa (FEDA), seeks to overcome persistent challenges such as inadequate infrastructure and limited access to long-term financing for film and TV production across the continent.
The initiative is part of the Creative Africa Nexus (CANEX) Programme, which supports the growth of Africa’s creative economy by providing capital and resources to filmmakers and content creators. Afreximbank President Benedict Oramah described the fund as a “timely intervention” to address funding gaps and expand the global reach of African storytelling.
“The Africa Film Fund will mobilize private equity to support the production and international distribution of high-quality African films and series,” Oramah said. “This is a major step toward unleashing the creative industry’s potential to drive economic growth across Africa.”
Marlene Ngoyi, CEO of FEDA, emphasized that the fund goes beyond financing films. “It is about building a sustainable ecosystem that empowers African creative talent, fosters cultural exchange, and catalyzes economic transformation,” she said.
The fund has drawn praise from prominent industry figures, including actor Boris Kodjoe and producer Viola Davis, who highlighted its potential to amplify authentic African stories on the global stage.
Africa’s creative industries, including Nollywood and emerging film hubs in Ghana, South Africa, and Kenya, have grown rapidly but face challenges in accessing sustainable funding, quality infrastructure, and international distribution. Nollywood alone accounted for 39% of Nigeria’s 2024 box office revenue.
By deploying long-term capital, Afreximbank hopes to bridge these gaps and help African filmmakers compete globally while leveraging the continent’s rich cultural heritage.
This launch follows Afreximbank’s recent announcement to double CANEX funding to $2 billion over the next three years, reflecting growing demand across Africa’s creative sectors, including music, fashion, and sports.
