A $1 billion Africa film fund was Tuesday launched by the African Export-Import Bank (Afreximbank) to boost the continent’s film and creative industry.
The fund, established through Afreximbank’s Fund for Export-Development in Africa (FEDA), was unveiled in Kigali, Rwanda, as part of its Creative Africa Nexus (CANEX) programme.
It is expected to address longstanding challenges in Africa’s film sector, including limited access to capital, post-production infrastructure, and weak global distribution channels, while boosting cultural exports.
Afreximbank said the initiative would support the production and global distribution of high-quality films and television series.
Dr. Benedict Oramah, President of Afreximbank and Chairman of FEDA, said film was a cornerstone of the CANEX programme.
Said Oramah: “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.
“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, CEO of FEDA, said the fund aims to build a sustainable creative ecosystem rather than simply financing films.
Said Ngoyi: “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”.
Kanayo Awani, Afreximbank’s Executive Vice-President of Intra-African Trade and Export Development, described the fund as a critical enabler of “youth empowerment and regional integration”.
Hollywood figures have also welcomed the move. Viola Davis, actress and co-founder of JVL Media, said the fund offers an opportunity for the world to engage with Africa on its own terms.
Said she: “This Fund is an invitation to the world to see Africa through the lens of its own creators — bold, unfiltered, and rich in truth. I am proud to be a part of this momentous step toward a more inclusive global film industry”.
Boris Kodjoe, actor and Managing Partner of FC Media Group, called the initiative a long-held dream come true.
Added he: “I am grateful and excited to partner with our friends at Afreximbank and FEDA in order to support quality content development and creation in Africa and beyond”.
