Afreximbank launches $1bn fund to transform African film industry
BY MOTOLANI OSENI
Afreximbank has launched a $1 billion Africa Film Fund to catalyse the continent’s creative economy, aiming to overcome persistent infrastructure and financing gaps that have long hindered the growth of Africa’s film and television industries.
The fund, established through the bank’s impact investment arm, the Fund for Export Development in Africa (FEDA), is part of the Creative Africa Nexus (CANEX) Programme and is designed to provide long-term capital for content development, production, and global distribution of African stories.
It adopts a private equity model to back high-quality projects and create a sustainable creative ecosystem across the continent.
READ ALSO: Speaker Abbas calls for community based initiatives to tackle poverty
Afreximbank President Benedict Oramah described the initiative as a strategic move to empower African storytellers and strengthen the global visibility of African narratives. He said the bank’s broader vision is to amplify African voices and unlock the creative sector’s potential as a driver of economic growth.
FEDA CEO Marlene Ngoyi noted that the fund goes beyond film production financing, aiming to build an integrated value chain that nurtures talent, fosters cultural exchange, and supports creative entrepreneurship across the continent.
Celebrated actor and FC Media Group Managing Partner, Boris Kodjoe, lauded the initiative as a long-held dream for African creatives seeking global platforms, while award-winning actress Viola Davis called it a powerful move to bring African stories to the world in their most authentic form.
Despite the global rise in demand for African content—exemplified by Nollywood’s 39 per cent share of Nigeria’s N7.4 billion box office revenue in 2024—the industry continues to face obstacles in accessing reliable funding, post-production facilities, and international distribution.
With the Africa Film Fund, Afreximbank aims to close this financing gap and position African cinema as a formidable force in the global creative economy.
