The African Export-Import Bank (Afreximbank), through its development impact investment arm, the Fund for Export-Development in Africa (FEDA), has announced the establishment of the Africa Film Fund — a landmark initiative under its Creative Africa Nexus (CANEX) programme. With a potential investment of up to US$1 billion, the fund aims to transform the film and creative industry across Global Africa.
The official announcement comes on the heels of Afreximbank Group’s commitment during the CANEX Weekend held in Algiers, Algeria, in October 2024. The initiative seeks to create a dedicated private equity film fund through FEDA to support film production and distribution across the continent, and to position African filmmakers to produce content that resonates on a global scale.
The Africa Film Fund is expected to play a catalytic role in bolstering high-quality content production, scaling distribution infrastructure, and amplifying Africa’s cultural narratives worldwide. By attracting essential long-term capital, the fund will provide the much-needed financial muscle to African filmmakers and creatives, enabling them to produce world-class films and television series.
“Africa’s film sector is ripe with potential, and the launch of this fund is both timely and strategic,” said Prof. Benedict Oramah, President of Afreximbank and Chairman of both Afreximbank and FEDA Boards. “Film is a cornerstone of the CANEX programme, and this fund will help address the persistent challenges around financing, scalability, and global market access.”
According to data from the UNESCO Institute for Statistics, Africa’s film and audiovisual sector generates approximately US$5 billion annually and supports over 5 million jobs. However, the industry faces persistent challenges including limited production infrastructure, post-production capacity gaps, and scarce cinema and digital distribution platforms.
Through FEDA, Afreximbank aims to address these gaps by enabling infrastructure development, promoting regional and international collaborations, and supporting the production of culturally rich, globally competitive content.
Marlene Ngoyi, CEO of FEDA, emphasized the fund’s broader mission. “This is about more than just financing film projects—it’s about building a sustainable creative ecosystem. The Africa Film Fund will empower creative talent, foster cultural exchange, and stimulate economic transformation throughout Global Africa.”
Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, also reinforced the fund’s economic potential. “Culture is a strategic economic asset. This initiative will help unlock the full power of Africa’s creative economy—driving youth empowerment, job creation, and regional integration.”
The initiative has already received international endorsement. EGOT-winning actress Viola Davis, co-founder of JVL Media LLC, described the fund as “an invitation to the world to see Africa through the lens of its own creators—bold, unfiltered, and rich in truth.”
Similarly, actor and producer Boris Kodjoe, Managing Partner at FC Media Group, praised the fund: “It has been a long-term dream of mine to help share African stories on a global scale. Partnering with Afreximbank and FEDA makes that dream more achievable.”
As the Africa Film Fund prepares for launch, stakeholders anticipate its ripple effect in unlocking Africa’s creative potential, celebrating authentic narratives, and solidifying the continent’s role in shaping the future of global entertainment.
