Afreximbank rolls out $1 Billion lifeline for Africa’s film industry
The newly launched Africa Film Fund, powered by the bank’s investment arm, the Fund for Export-Development in Africa (FEDA), was officially unveiled in Kigali, Rwanda, under the banner of the Creative Africa Nexus (CANEX) platform.
The fund seeks to rewrite the narrative for African storytellers by tackling entrenched barriers like underfunding, inadequate post-production infrastructure, and limited access to global audiences. In doing so, it hopes to ignite a new wave of cultural exports and creative economy growth.
According to Afreximbank, this bold move will fuel the creation and international distribution of world-class films and television content crafted on the continent.
Speaking on the initiative, Benedict Oramah, president of Afreximbank and chairman of FEDA, highlighted the strategic alignment of this fund with the bank’s wider creative agenda.
“The establishment of the Africa Film Fund is timely as it will help accelerate the growth of Africa’s creative sector, which has witnessed rapid growth but continues to face significant challenges including funding, scaling and accessing global markets.”
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Oramah emphasised that this isn’t just a financial intervention, it’s a cultural statement.
“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 the creative industry’s potential to drive economic growth across Africa.”
FEDA’s CEO, Marlene Ngoyi, doubled down on the vision, underscoring the fund’s long-term commitment to nurturing the creative ecosystem.
“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. At FEDA, we are committed to ensuring this initiative delivers tangible impact with long-term and sustainable benefits.”
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Kanayo Awani, Afreximbank’s executive VP of Intra-African Trade and Export Development, called the fund a vital accelerator for youth empowerment and regional unity.
The announcement has already made waves in international circles, drawing praise from Hollywood veterans. Oscar-winning actress and co-founder of JVL Media, Viola Davis, expressed her enthusiasm.
“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 a part of this momentous step toward a more inclusive global film industry.”
Boris Kodjoe, actor and managing partner at FC Media Group, echoed the sentiment with passion:
“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.”
With the cameras ready to roll, Africa’s film industry may finally get the spotlight and support it has long deserved.
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