Afreximbank unveils $1 billion Africa Film Fund to boost continent’s creative industry  

The fund is being launched under the Creative Africa Nexus (CANEX) Programme to tackle persistent infrastructure and financing barriers in the film and TV production landscape across Africa.

According to Afreximbank, the Africa Film Fund will address long-standing barriers hindering the growth of the continent’s creative economy, most notably the absence of adequate infrastructure and the lack of accessible, long-term financing for content development.

President of Afreximbank, Benedict Oramah, described the fund as a timely intervention to tackle major challenges facing Africa’s fast-growing creative sector, such as inadequate funding and limited global reach.

He also highlighted the bank’s broader commitment to promoting African storytelling through multiple initiatives.

“Through investments in the film sector, alongside initiatives such as the CANEX Shorts Awards, Afreximbank is committed to celebrating and amplifying a diverse range of African voices and experiences, thereby catalysing the creative industry and unleashing its potential to drive economic growth across Africa,” said Oramah.

By mobilising capital through a private equity model, the fund is designed to support both the production and global distribution of high-quality African stories.

Marlene Ngoyi, CEO of FEDA, emphasised that the fund is about more than just financing productions; it is also about building an ecosystem that can sustain the entire value chain of African storytelling.

“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,” Ngoyi said.

Renowned actor and Managing Partner of FC Media Group, Boris Kodjoe, also expressed optimism about the initiative, calling it a long-term dream come true for African storytellers.

“It has been a long-term dream of mine to be able to tell stories on a global scale. I am grateful and excited to partner with our friends at Afreximbank and FEDA in order to support quality content development and creation in Africa and beyond,” he stated.

Co-founder of JVL Media LLC, Viola Davis emphasized the authenticity and power of African storytelling, describing the initiative as a significant move towards a more inclusive global film industry.

“African stories are deeply human and invariably powerful. This fund is an invitation to the world to see Africa through the lens of its own creators, bold, unfiltered, and rich in truth. I am proud to be part of this momentous step toward a more inclusive global film industry,” said Davis.

Africa’s creative sector, particularly Nollywood and the growing ecosystem of film industries in Ghana, South Africa, Kenya, and other countries, has increasingly gained global attention. Nollywood movies accounted for 39% (N2.8 billion) of the total box office revenue of N7.4 billion in 2024.

However, players in the sector have consistently struggled to access sustainable funding, quality post-production infrastructure, and international distribution networks.

By deploying long-term capital through the Africa Film Fund, Afreximbank hopes to bridge this financing gap, enabling African filmmakers to produce competitive content and leverage the continent’s cultural richness to gain international market share.

By deploying long-term capital through the Africa Film Fund, Afreximbank hopes to bridge this financing gap, enabling African filmmakers to produce competitive content and leverage the continent’s cultural richness to gain international market share.