The African Export-Import Bank (Afreximbank) has launched a $1 billion Africa Film Fund to support the continent’s fast-growing but underfunded creative industry. The new initiative, part of Afreximbank’s Creative Africa Nexus (CANEX) programme, is aimed at helping African filmmakers and content creators access global markets and produce world-class films and television content.
Announcing the fund, President of Afreximbank, Professor Benedict Oramah, said the move is timely and necessary. “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,” Oramah stated.
The Africa Film Fund is being managed under FEDA, the bank’s equity arm, which had previously announced plans in October 2024 to launch a private equity fund dedicated to African film. The aim is to finance the production and distribution of African films and TV series that can compete on a global level.
According to Afreximbank, the fund is expected to help attract more investment into Africa’s creative industry, support job creation, and enhance cultural visibility. It will also provide much-needed capital and infrastructure support to filmmakers across the continent, who currently face challenges such as lack of production equipment, limited access to post-production services, and inadequate cinema screens.
At present, Africa has fewer than 2,000 cinema screens and millions of people still struggle to access digital content platforms. These limitations have held back the growth of the industry, despite its huge potential. The United Nations Educational, Scientific and Cultural Organization (UNESCO) estimates that Africa’s film and audiovisual industry already generates around $5 billion in annual revenue and provides jobs for over 5 million people.
Marlene Ngoyi, CEO of FEDA, said the initiative is more than just funding. “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,” she said.
Kanayo Awani, Executive Vice-President of Intra-African Trade and Export Development at Afreximbank, added that the fund will help unlock the full potential of Africa’s creative economy by giving African storytellers the platform, resources, and visibility they need. “It reflects our belief that culture is not just a soft power, but a strategic asset for economic growth, youth empowerment, and regional integration,” she said.
Hollywood actress Viola Davis, co-founder of JVL Media LLC and an Emmy, Grammy, Oscar, and Tony (EGOT) winner, praised 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,” Davis said.
Boris Kodjoe, an award-winning actor and Managing Partner of FC Media Group, also expressed excitement about the fund. “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,” Kodjoe said.
The Africa Film Fund adds to other Afreximbank initiatives such as the CANEX Shorts Awards, which recognise and reward creative excellence across the continent. Through these programmes, Afreximbank aims to turn Africa’s creativity into a strategic economic driver and a tool for global cultural exchange.
