Cairo: The African Export-Import Bank (Afreximbank) has launched a $1 billion Africa Film Fund aimed at transforming the continent’s film and creative economy. This initiative is set to provide significant support to African filmmakers by facilitating the production, post-production, distribution, and exhibition of high-quality films and TV series.
According to Ethiopian News Agency, the landmark initiative was announced through Afreximbank’s development impact investment arm, the Fund for Export Development in Africa (FEDA). The strategic fund is designed to empower African storytellers by enabling them to create globally competitive content and strengthen the continent’s creative infrastructure.
The Africa Film Fund is not just an investment in entertainment but is also seen as a catalyst for cultural sovereignty, job creation, and enhancing Africa’s influence in the global creative economy. The bank highlighted these objectives in a social media post, emphasizing the transformative potential of the fund.
This initiative aligns with Afreximbank’s commitment made at the Creative Africa Nexus – CANEX WKND 2024 in Algiers, where the bank pledged to deploy patient capital to empower creatives and drive long-term industry growth. With Africa’s film and audiovisual industry already generating over $5 billion in annual revenues and employing over 5 million people, the fund is expected to unlock further potential across the value chain.