Afreximbank launches $1 billion film fund to back African creative industries - Trade Treasury Payments

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Afreximbank launches $1 billion film fund to back African creative industries

Afreximbank has launched a $1 billion Africa Film Fund, marking one of the continent’s most significant commitments to date in supporting its film and television industry. Announced at the Creative Africa Nexus (CANEX) event in Kigali, the Fund is being managed by the Bank’s development finance subsidiary, the Fund for Export Development in Africa (FEDA).

The initiative forms part of Afreximbank’s broader CANEX programme and is designed to tackle some of the key structural issues hindering the scale and global competitiveness of Africa’s creative economy. The Fund will focus on three critical areas: production, post-production, and distribution.

According to data from the UNESCO Institute for Statistics, Africa’s film and audiovisual sector already generates roughly $5 billion in annual revenue and supports over 5 million jobs. Yet, the industry continues to face systemic barriers, most notably, limited access to capital, underinvestment in post-production infrastructure, and fewer than 2,000 cinema screens across the continent.

By establishing a dedicated private equity vehicle for film and television, Afreximbank aims to unlock new investment and help African filmmakers develop content with global reach.

Professor Benedict Oramah, President of Afreximbank and Chairman of the Board of Directors of Afreximbank and FEDA. said, “Film is a cornerstone of the Creative Africa Nexus (CANEX) programme and 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.” Prof. Oramah added, “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 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.”

The Fund aligns closely with Afreximbank’s broader mandate to support intra-African trade, industrialisation, and the cultural economy as a strategic growth sector under the African Continental Free Trade Area (AfCFTA). The Bank has already deployed over US$590 million through FEDA across manufacturing, healthcare, and creative ventures.

Kanayo Awani, Executive Vice-President of Intra-African Trade and Export Development at 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.”

Actor and producer Viola Davis said, “African stories are deeply human and universally powerful. 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 at FC Media Group, 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 our friends at Afreximbank and FEDA in order to support quality content development and creation in Africa and beyond.”

The Africa Film Fund builds on existing CANEX activities, including the CANEX Shorts Awards and the CANEX WKND, and is part of Afreximbank’s evolving suite of support tools for Africa’s cultural industries.

For Afreximbank, this is a long-term bet on one of the continent’s most dynamic sectors.