The African Export-Import Bank (Afreximbank) has unveiled an ambitious initiative to mobilize up to $1 billion for a Pan-African film fund. This plan, revealed at the 2026 Creative Africa Nexus (CANEX) Summit in Lagos, aims to enhance financing and fortify distribution networks, positioning Africa as a key player in the global creative content production landscape.
Mrs. Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, highlighted that the fund is being developed through the bank’s impact investment subsidiary, the Fund for Export Development in Africa (FEDA), in collaboration with One Street Studios. The initiative is expected to finance African content, improve distribution channels, develop enabling technologies, and establish essential infrastructure for the continent’s film industry.
Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank, emphasized the importance of strengthening African ownership and ensuring that the continent captures more value from its $60 billion creative economy. He asserted that relying solely on increased production financing would not yield maximum economic benefits, urging a shift toward building a comprehensive creative ecosystem. This includes focusing on critical areas such as distribution, branding, marketing, and intellectual property ownership.
On supporting the creative industry, former Afreximbank President Prof. Benedict Oramah called for a transformative restructuring of how financial institutions evaluate and assist creative businesses. He pointed out that the real issue is not a lack of capital, but rather the difficulties smaller creative entrepreneurs face in accessing available funding due to insufficient business frameworks and market validation.
Awani also noted that Afreximbank has made significant investments in new projects within film, television, music, and digital content, as well as launching skills development programs for aspiring creatives across the continent. These efforts are complemented by financial assistance and connections for African food brands, among other initiatives.
During discussions at the summit, discussions around establishing an African-owned distribution network surfaced, aiming to ensure that local producers can distribute their films before seeking international markets. The importance of protecting intellectual property rights was also a key topic, with calls for African creatives to take leadership roles in controlling and benefiting from their work.
The proposed activities highlight a shift towards fostering a more integrated and sustainable creative economy across Africa, aiming to ensure that the continent not only participates in the global market but also retains a significant share of the economic benefits generated by its creative outputs.
