Afreximbank unveils $500m fund for African creative industry

FOLLOWING the example of the Nigerian Bankers Committee N200 billion creative industry initiative, the African Export-Import Bank has announced a $500 million credit facility to support the production and trade of African cultural and creative products over the next two years.Afreximbank President, Prof.

He said that the creative economy was increasingly recognized as a significant sector and meaningful contributor to Africa’s gross domestic product and that the cultural and creative industries catalysed economic growth by fostering more inclusive, connected and collaborative societies. He, however, noted that, while Africa had a deep pool of talent, it lacked the infrastructure and capacity to commercialize its creative talent and reap the vast fortunes lying in wait.

He commended Egypt’s “astronomical growth in creative exports over the last decade” and the Nollywood industry’s increasing importance which had prompted the Nigerian government, in its Economic Recovery and Growth plan, to forecast export revenues of $1 billion from the industry by 2020.

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Yoruba movie industry not profitable – filmmaker, Kehinde AdeyemiPopular Yoruba actor and filmmaker, Kehinde Adeyemi, began his career in 1990 with the Odunfa caucus. He can say that because he had a failed career. Odunlade, Muyiwa ademola, Femi Adebayo and co can't say such. When all their storyline are RUBBISH why wil it be profitable when many of d actor and actress make movie which many atimes are predictable and lack contents even having a bad ending....What is d essence of me sitting down and spend 2 hrs on a movie that d ending is unimaginable and predictable
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