The African Export-Import Bank (Afreximbank), through its impact investment subsidiary—the Fund for Export Development in Africa (FEDA)—has officially launched a $1 billion Africa Film Fund aimed at transforming the continent’s film and creative industry. The announcement was made on Wednesday via a statement published on the bank’s verified Instagram account.
The initiative, which falls under Afreximbank’s Creative Africa Nexus (CANEX) Programme, is designed to address some of the long-standing challenges faced by African filmmakers and creative professionals. These include lack of funding, weak production infrastructure, and limited global distribution opportunities.
According to the statement, the fund will be managed as a private equity vehicle through FEDA. It will provide long-term capital for the development of high-quality African film and television content. The bank noted that the ultimate goal is to enable African storytellers to compete on a global stage, elevating the status of African content in the international market.
Professor Benedict Oramah, President and Chairman of the Board of Directors at Afreximbank, stressed the fund’s importance in building the continent’s creative economy.
“Film is a cornerstone of the 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.
He added that Afreximbank’s commitment goes beyond just funding. Through the fund and other initiatives such as the CANEX Shorts Awards, the bank aims to celebrate African voices and catalyse the growth of the entire creative ecosystem.
Also speaking on the development, Marlene Ngoyi, Chief Executive Officer of FEDA, emphasized that the initiative is designed not only to finance films, but also to develop the entire creative value chain.
“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,” Ngoyi said.
Renowned Hollywood actor and co-founder of FC Media Group, Boris Kodjoe, also expressed his support for the fund. He noted that the project aligns with his long-time dream of sharing African stories with the world.
“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 fund is also expected to facilitate the development of creative infrastructure, including studios and training facilities, which are sorely lacking in many parts of Africa. It will also open doors for partnerships with global streaming platforms, production houses, and distributors.
This announcement marks another bold step by Afreximbank in supporting pan-African development through alternative sectors. Just recently, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that the bank had already raised $19 billion for the launch of the Africa Energy Bank in Abuja. This demonstrates Afreximbank’s expanding role in financing transformative sectors beyond traditional trade.
Industry experts say the Africa Film Fund could not have come at a better time. With growing international interest in African stories and talent—especially through platforms like Netflix, Showmax, and Prime Video—the fund can help local content creators meet rising global standards and demand.
As the fund rolls out in phases, industry stakeholders, including producers, directors, writers, and distributors across the continent, are expected to benefit from access to much-needed financing and support.
