By SpringNewsNG Media Limited | May 7, 2025

The African Export-Import Bank (Afreximbank) has unveiled a groundbreaking $1 billion Africa Film Fund through its development investment arm, the Fund for Export Development in Africa (FEDA), aimed at transforming Africa’s fast-growing but underfunded film and creative industry.

Launched as part of Afreximbank’s Creative Africa Nexus (CANEX) initiative, the Africa Film Fund will inject large-scale financing into the continent’s film and television production ecosystem, empowering African storytellers and content creators to produce globally competitive content that reflects the rich diversity of Global Africa.

The fund is designed to address key challenges plaguing the industry — including inadequate production infrastructure, limited post-production capacity, and a chronic shortage of distribution platforms. It will also catalyze new investments in cinema infrastructure, digital platforms, and regional content hubs, helping African creators gain visibility on the international stage.

Transforming a $5 Billion Industry and Empowering Over 5 Million Africans

According to the UNESCO Institute for Statistics, Africa’s film and audiovisual sector already generates $5 billion in annual revenue and employs over 5 million people, despite severe limitations in funding and infrastructure. The new $1 billion fund is positioned to close critical gaps in access to financing, production tools, and global distribution, unlocking the full economic and cultural potential of Africa’s film industry.

Leadership Speaks: Strategic Vision for a Cultural and Economic Shift

Professor Benedict Oramah, President of Afreximbank and Chairman of FEDA, highlighted the significance of the fund:

“Film is a cornerstone of our CANEX programme. The launch of the Africa Film Fund is a strategic move to scale Africa’s creative sector, support economic diversification, and elevate African voices on the global stage.”

Oramah also emphasized the Fund’s synergy with other creative initiatives like the CANEX Shorts Awards, noting that cultural content is a driver of economic development and soft power.

Marlene Ngoyi, CEO of FEDA, added:

“This isn’t just about film financing — it’s about building a resilient and inclusive creative ecosystem that supports African talent, drives cultural exchange, and delivers long-term economic benefits.”

Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, reinforced the importance of cultural investment:

“Culture is a strategic asset. This Fund will empower Africa’s creative youth, promote regional integration, and position African content on the world stage.”

Global Endorsements from Film Icons Viola Davis and Boris Kodjoe

Hollywood powerhouses have also thrown their support behind the initiative. Viola Davis, Oscar-winning actress and co-founder of JVL Media LLC, praised the move:

“African stories are universal. This Fund invites the world to see Africa through its own lens — bold, authentic, and compelling. I’m honored to support this historic shift in the global film landscape.”

Boris Kodjoe, award-winning actor and managing partner of FC Media Group, said:

“This has been a lifelong dream — to tell our stories at scale. Partnering with Afreximbank and FEDA marks a new chapter in empowering African content creation and global storytelling.”

: A New Era for African Film and Creative Industries

With the $1 billion Africa Film Fund, Afreximbank is not only investing in creative output — it is redefining the future of African storytelling, job creation, and cultural diplomacy. The move underscores a growing recognition that culture is central to economic growth, youth empowerment, and global influence.

The world is watching. And now, more than ever, Africa’s voice is ready to be heard—in cinemas, on streaming platforms, and in hearts around the globe.