The African Export-Import Bank (Afreximbank), through its development impact investment arm—the Fund for Export Development in Africa (FEDA)—has announced the creation of the Africa Film Fund, a ground-breaking initiative valued at up to US$1 billion. The Fund aims to revolutionise Africa’s film and creative industry by supporting the production and global distribution of world-class African content.
This strategic move is part of Afreximbank’s Creative Africa Nexus (CANEX) programme and follows the Bank’s commitment made during CANEX WKND 2024 in Algiers, Algeria. Through the Africa Film Fund, Afreximbank seeks to empower African filmmakers to create globally resonant stories while addressing long-standing structural challenges in the continent’s creative ecosystem.
Transforming a US$5 Billion Industry
Africa’s film and audiovisual industry generates approximately US$5 billion annually and employs over 5 million people, according to the UNESCO Institute for Statistics. However, limited infrastructure—such as fewer than 2,000 cinema screens and inadequate access to digital platforms—continues to hinder growth.
Afreximbank’s intervention is designed to change that narrative.
“The Africa Film Fund is a timely and catalytic investment that will help unlock the creative sector’s vast economic potential,” said Professor Benedict Oramah, President of Afreximbank and Chairman of the Boards of Afreximbank and FEDA. “Through initiatives like the CANEX Shorts Awards and the Film Fund, we aim to amplify Africa’s diverse voices, foster job creation and support cross-border trade in cultural goods.”
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Building a Sustainable Creative Ecosystem
FEDA’s CEO Marlene Ngoyi stressed that the Fund is more than a financial tool—it is a platform for inclusive growth, cultural exchange, and socio-economic transformation.
“The Africa Film Fund will empower Global Africa’s creative talent while driving long-term sustainable benefits for the continent’s film industry,” she said.
Kanayo Awani, Executive Vice-President of Intra-African Trade and Export Development at Afreximbank, highlighted the fund’s broader developmental aims:
“This initiative reflects our belief that culture is a strategic economic asset. The Fund will give African creatives the resources and visibility they need to thrive in global markets.”
International Endorsements
Award-winning actress and producer Viola Davis, co-founder of JVL Media LLC, welcomed the Fund, calling it “an invitation to the world to see Africa through the lens of its own creators—bold, unfiltered, and rich in truth.”
Boris Kodjoe, actor and Managing Partner of FC Media Group, also hailed the announcement:
“It has been a long-term dream to tell our stories globally. I am excited to partner with Afreximbank and FEDA in supporting Africa’s vibrant storytelling tradition.”
About FEDA
The Fund for Export Development in Africa (FEDA) is Afreximbank’s impact investment subsidiary, focused on bridging the funding gap in sectors critical to Africa’s trade and industrialisation. With over US$590 million invested to date, FEDA operates across sectors including manufacturing, healthcare, logistics, and consumer goods.
About Afreximbank
Afreximbank is a pan-African multilateral financial institution with a mandate to promote intra- and extra-African trade. The Bank supports the African Continental Free Trade Agreement (AfCFTA) through initiatives like the Pan-African Payment and Settlement System (PAPSS) and a US$10 billion Adjustment Fund. As of December 2024, the Bank had assets and contingencies exceeding US$40.1 billion.
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Source: Afreximbank
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