The International Finance Corporation (IFC) and the African Development Bank (AfDB) have partnered with EbonyLife Media to strengthen Africa’s film industry and create jobs. This collaboration aims to explore setting up a pan-African investment vehicle—a way to pool money from various sources—to fund film projects. The goal is to help filmmakers access financing more easily and share original African stories with global audiences.
Africa’s film sector has potential but struggles with challenges like limited funding, piracy, and weak policies. Piracy alone can cut filmmakers’ revenue by up to 50 percent, while funding gaps make it hard to produce movies. This partnership seeks to bring in more capital for productions and work with governments to protect intellectual property and offer incentives, helping the industry grow.
Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa, said, “Africa’s creative economy is a cultural asset and an engine for inclusive growth, youth employment, and global influence. Through this partnership, we aim to unlock new capital for the continent’s storytellers, helping them bring authentic African voices to international platforms while boosting job creation in one of the most dynamic sectors of the future.”
EbonyLife Media, a top Nigerian company, brings experience to the table. It has produced some of the region’s highest-grossing films and partners with global names like Sony Pictures Television and Starz. CEO Mo Abudu added, “Today, I am thrilled and deeply proud to welcome the IFC and AfDB on this journey. Together, we will identify ways to catalyze a new era of African storytelling that can thrive on the global stage.”
