On May 7, 2025, the African Export-Import Bank (Afreximbank) officially launched the Africa Film Fund, a transformative initiative committing up to $1 billion to bolster the continent’s film and creative industries.
This fund is administered through Afreximbank’s development impact investment arm, the Fund for Export Development in Africa (FEDA), and forms a central part of the bank’s Creative Africa Nexus (CANEX) program.
Objectives of the Africa Film Fund
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Enhancing Film Production and Distribution: The fund aims to finance the production, post-production, and global distribution of high-quality African films and television series, thereby amplifying the continent’s cultural influence worldwide.
- Addressing Industry Challenges: By providing patient capital, the fund seeks to overcome longstanding barriers in Africa’s film industry, such as limited access to production facilities, advanced post-production resources, and insufficient exhibition infrastructure.
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Economic Growth and Job Creation: The initiative is expected to stimulate economic growth by creating jobs and fostering a thriving ecosystem that empowers African creative talent and encourages cultural exchange.
Industry Context
According to the UNESCO Institute for Statistics, Africa’s film and audiovisual industry currently generates approximately $5 billion in annual revenues and employs over 5 million people across the continent. However, the industry faces significant challenges, including limited access to financing, production facilities, and distribution channels.
Leadership Perspectives
Professor Benedict Oramah, President of Afreximbank and Chairman of the Boards of Directors of Afreximbank and FEDA, emphasised the strategic importance of the fund:
“Film is a cornerstone of the Creative Africa Nexus (CANEX) programme, and 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.”
Marlene Ngoyi, CEO of FEDA, highlighted the broader impact:
“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 catalyzes economic transformation.”
