The African Export-Import Bank (Afreximbank), through its impact investment subsidiary, the Fund for Export-Development in Africa (FEDA), has launched a $1 billion Africa Film Fund to enhance content creation and support global distribution of African films and television content.
The fund, unveiled under the Creative Africa Nexus (CANEX) programme, is positioned to address structural constraints and capital shortfalls that continue to limit growth across Africa’s creative industry.
According to Afreximbank, the fund will operate as a private equity vehicle managed by FEDA, offering long-term investment to drive scale, infrastructure, and export potential.
In an official statement posted on the bank’s social media platform on Wednesday, Afreximbank confirmed the fund’s core objective is to support the production of commercially viable African content while enabling creators to access international markets.
“Film is a cornerstone of the CANEX programme,” said Professor Benedict Oramah, President of Afreximbank. “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 added that through investments in film and related initiatives such as the CANEX Shorts Awards, the bank aims to amplify a diverse range of African voices and stimulate broader creative industry participation.
The fund is expected to play a key role in repositioning African creative outputs for export by financing the development of globally competitive content and supporting industry-wide ecosystem growth.
Marlene Ngoyi, Chief Executive Officer 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,” Ngoyi stated.
The CANEX programme, backed by Afreximbank, was created to bridge funding gaps in Africa’s creative economy by providing financial and non-financial support to creatives in music, fashion, literature, visual arts and now film.
Afreximbank’s move into structured creative economy financing aligns with broader continental objectives to diversify exports, create jobs, and boost Africa’s GDP contribution from the creative sector.
The initiative also underscores Afreximbank’s growing focus on high-impact development finance in non-traditional sectors.
Hollywood actor and co-founder of FC Media Group, Boris Kodjoe, welcomed the development, stating “It has been a long-term dream of mine to tell African stories on a global scale. I’m excited to partner with Afreximbank and FEDA to support quality content development across Africa and beyond.”
The Africa Film Fund follows the bank’s recent disclosure that $19 billion has been raised for the establishment of the Africa Energy Bank as Afreximbank continues to expand its role in financing key sectors across the continent.
The creative industry, particularly film, is increasingly viewed as a viable export commodity and a strategic contributor to intra-African trade under the African Continental Free Trade Area (AfCFTA).
Implementation of the Africa Film Fund is expected to commence within the year, with project selection guided by commercial viability, cultural relevance and potential for global market reach.
