The African Export-Import Bank (Afreximbank) has unveiled a $1 billion Africa Film Fund aimed at transforming the continent’s film and creative sectors. The initiative, announced on the bank’s official X handle, is being rolled out through its development investment arm, the Fund for Export Development in Africa (FEDA), under the Creative Africa Nexus (CANEX) Programme.
The fund is designed to address longstanding infrastructure and financing gaps that have hindered the growth of Africa’s film and television industry. It will support the production and international distribution of African content, enabling local storytellers to reach global audiences.
According to Afreximbank, the Africa Film Fund will operate as a private equity vehicle managed by FEDA, providing long-term capital to fuel high-quality content creation. Afreximbank President, Prof. Benedict Oramah, emphasized the significance of the initiative:
“Film is a cornerstone of the CANEX programme. The Africa Film Fund comes at a crucial time to accelerate the creative sector’s growth, which has expanded rapidly but still faces challenges in funding, scaling, and global market access.”
Oramah also highlighted the bank’s broader commitment to the sector through initiatives like the CANEX Shorts Awards, which celebrate and amplify diverse African narratives and talent, thereby positioning the creative industry as a key driver of economic growth.
FEDA CEO Marlene Ngoyi underscored that the fund’s impact extends beyond film production.
“This is about building a sustainable ecosystem that empowers creative talent across Global Africa, encourages cultural exchange, and fosters economic transformation,” she said.
Adding his voice, Boris Kodjoe, Managing Partner of FC Media Group, praised the collaboration:
“It’s been a long-time dream to tell African stories on a global scale. I’m thrilled to partner with Afreximbank and FEDA to support the development of world-class content from Africa.”
The fund’s launch follows recent remarks by Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who disclosed that Afreximbank had already raised $19 billion to kickstart the Africa Energy Bank in Abuja—another signal of the institution’s deepening commitment to the continent’s development across multiple sectors.