- Afreximbank has announced plans to establish a $1 billion Africa Film Fund in 2024.
- Africa Film Fund will oversee financing of African filmmakers, producers, and directors of creative projects across the continent.
- Despite its potential to employ over 20 million people, Africa’s film industry is facing several challenges. These include limited access to financing and copyright infringement due to weak copyright laws.
The African Export-Import Bank (Afreximbank) has announced plans to establish a $1 billion Africa Film Fund to be launched in 2024. Addressing the opening of the 2023 CANEX Summit held as part of the third Intra-African Trade Fair (IATF2023), Kanayo Awani, Executive Vice President at Afreximbank, said that the fund will oversee film financing, co-finance with large studios, finance African filmmakers, and finance producers and directors of film projects across the continent.
Awani revealed that so far, the Bank has a pipeline of over $600 million …
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