Afreximbank announces $1bn African film fund

The African Export-Import Bank (Afreximbank) on Friday said it is working on the establishment of a $1-billion African Film Fund to be launched in 2024 to support the continent’s film industry.

Kanayo Awani, Executive Vice President of Intra-African Trade Bank at Afreximbank, announced this at the ongoing intra-African trade in Cairo, Egypt.

Addressing the opening of the 2023 CANEX Summit held as part of the third Intra-African Trade Fair (IATF2023), Awani said that the fund would oversee film financing, co-finance with large studios, finance African filmmakers and finance producers and directors of film projects across the continent.

Source: Business Day