The African Export-Import Bank (Afreximbank) has launched a $1 billion fund to support Africa’s film and creative industry.
The initiative is called the Africa Film Fund and is part of the Creative Africa Nexus (CANEX) Programme.
It was announced in an official statement on Afreximbank’s verified Instagram page on Wednesday.
Afreximbank, through its development arm FEDA, has committed to launching the Africa Film Fund to revolutionise Global Africa’s film industry.
FEDA stands for Fund for Export-Development in Africa. It’s the development impact investment arm of Afreximbank.
The new fund will tackle a long-standing issue—lack of money and infrastructure in the African film space.
It will finance the production and international distribution of films and TV content created in Africa.
Africa’s film industry is growing fast but struggles with funding, production capacity, and global visibility.
Afreximbank Says African Storytellers Deserve Global Reach
The fund will be managed as a private equity vehicle by FEDA.
This means it will invest in film companies for the long term and expect returns as the industry grows.
The idea is to help African filmmakers produce high-quality content and reach global markets.
President of Afreximbank, Prof. Benedict Oramah, said: “Film is a cornerstone of the CANEX programme. The Africa Film Fund will accelerate the growth of Africa’s creative sector, which has witnessed rapid growth but continues to face challenges including funding, scaling and accessing global markets.”
He continued: “Through investments in the film sector and initiatives like the CANEX Shorts Awards, Afreximbank is committed to amplifying a diverse range of African voices and driving economic growth across Africa.”
Africa’s creative economy has been seen as a key tool for job creation, cultural exchange, and export earnings.
More Than Just Money—It’s About Building a Film Ecosystem
CEO of FEDA, Marlene Ngoyi, said the initiative is about more than funding individual films.
She explained: “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.”
This means there will likely be support for studios, equipment, film schools, and digital platforms in the future.
Hollywood actor and Managing Partner of FC Media Group, Boris Kodjoe, expressed his support for the initiative.
He said: “It has been a long-term dream of mine to be able to tell stories on a global scale. I am grateful and excited to partner with Afreximbank and FEDA to support quality content development in Africa and beyond.”
Kodjoe’s involvement is expected to attract more global talent and partnerships.
This fund could become a game-changer for Nollywood and other African film sectors that already produce thousands of films annually but lack global exposure.
Meanwhile, Afreximbank has also been active in the energy sector.
Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, recently said the bank had raised $19 billion to kick-start the Africa Energy Bank based in Abuja.
Afreximbank’s growing portfolio shows it is not just focusing on trade but also on long-term economic sectors like energy and entertainment.
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