Addis Ababa – The African Export Transport Bank (Afreximban) has launched the US$1 billion African Film Fund to revolutionize the global African film and creative economy.
Afreximban has announced the landmark initiative through the Development Impact Investment Arm, the African Export Development Fund (FEDA).
This strategy fund unlocks funding for African filmmakers. It supports the production, post-production, distribution and exhibition of high-quality films and television series.
It will also enable African storytellers to create globally competitive content while enhancing the continent’s creative infrastructure.
More than an investment in entertainment, the African Film Fund is a catalyst for cultural sovereignty, job creation and Africa’s influence in the global creative economy, the bank tells the Social Media Post.
This initiative reflects Afreximbank’s commitment made at Creative Africa’s Nexus-Canex WKND 2024 to empower creatives and deploy patient capital that drives long-term industry growth.
With Africa’s film and audiovisual industries already generating more than US$5 billion in annual revenue and employing more than 5 million people, the fund is poised to unlock even greater possibilities across the value chain.
