Pan-African financial institution African Export-Import Bank (Afreximbank) has launched a US$1bn Africa Film Fund to support film production and distribution across the continent.
In a statement, the bank said the equity fund will play a “pivotal role in promoting the production and global distribution of high-quality films and TV series, further amplifying Global Africa’s cultural influence across the world.”
The fund is designed to act as a catalyst to attract further equity capital into the African film industry.
Afreximbank was established in 1993 by African governments, private and institutional investors with a mandate to finance, promote and expand African trade. It is headquartered in Cairo.
The fund is being launched through Afreximbank’s development impact investment arm, the Fund for Export-Development in Africa (FEDA). The funding initiative forms part of Afreximbank’s Creative Africa Nexus Programme (CANEX).
According to the UNESCO Institute for Statistics, the African film and audiovisual industry generates an estimated US$5bn in annual revenues and employs over five million people across the continent.
However, the film industry on the continent has long faced challenges, including limited access to production facilities and equipment, a shortage of advanced post-production resources, and a lack of sufficient exhibition infrastructure—highlighted by fewer than 2,000 cinema screens and limited access to digital platforms.
Professor Benedict Oramah, president of Afreximbank, 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.”
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.”
Oscar and Emmy winning actress Viola Davis, co-founder of JVL Media LLC, welcomed the initiative: “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.”
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