Kigali (Rwanda), May 8, 2025 – African Export-Import Bank (Afreximbank) is to spearhead the launch of $1 billion Africa Film Fund.
Afreximbank is launching the Fund through its development impact investment arm and the Fund for Export-Development in Africa (FEDA) as part of its Creative Africa Nexus Programme (CANEX).
This investment is designed to revolutionise Global Africa’s film and creative industry.
This move follows Afreximbank Group’s commitment at the CANEX Weekend (CANEX WKND 2024) in Algiers, Algeria, in October 2024, where the Bank announced plans to launch a private equity film fund through FEDA to support film production and distribution across Africa.
It is also to empower African filmmakers to create globally appealing content.
The Fund will play a pivotal role in promoting the production and global distribution of high-quality films and TV series, further amplifying Global Africa’s cultural influence across the world.
According to the UNESCO Institute for Statistics, the African film and audiovisual industry generates an estimated US$5 billion in annual revenues and employs over five million people across the continent.
However, the film industry on the continent has long faced challenges, including limited access to production facilities and equipment, a shortage of advanced post-production resources, and a lack of sufficient exhibition infrastructure, highlighted by fewer than 2,000 cinema screens and limited access to digital platforms.
Afreximbank’s interventions through FEDA seeks to address some of these issues and more.
Prof. Benedict Oramah, President of Afreximbank, commented: “Film is a cornerstone of the Creative Africa Nexus (CANEX) programme and the establishment of the Africa Film Fund is timely.
“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.
“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.”
Marlene Ngoyi, the Chief Executive of FEDA, said: “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,” she said.
Kanayo Awani, the Executive Vice-President of Intra-African Trade and Export Development, Afreximbank, said: “This Fund will help unlock the full potential of Africa’s creative economy by giving African storytellers the platform, resources, and visibility they deserve.
“It reflects our belief that culture is not just a soft power, but a strategic asset for economic growth, youth empowerment, and regional integration.” (GBN)
