The African Export-Import Bank (Afreximbank) is actively working towards establishing a $1-billion African Film Fund, scheduled for launch in 2024. Kanayo Awani, Executive Vice President at Afreximbank, made this announcement during the 2023 CANEX Summit in Cairo, held as part of the third Intra-African Trade Fair (IATF2023). The fund aims to support the African film industry by overseeing film financing, co-financing with large studios, and providing financial assistance to filmmakers, producers, and directors across the continent. Mrs. Awani highlighted that the Bank had increased its financing commitment to the creative sector from US$500 million to US$1 billion during CANEX WKND 2022, with a current pipeline of over US$600 million in various creative industries.
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