Nairobi set to host summit on Africa film industry financing next week
Over 200 delegates will meet in Nairobi next week to find ways of promoting and accelerating development of Africa’s film industry through commercial funding.
They are drawn from the film, banking and media industries and the two-day Africa Film Finance Summit scheduled for Thursday and Friday will offer a platform for financial institutions, film makers, entrepreneurs and regulators to learn from experienced peers on what it takes to fund the sector.
Speaking ahead of the summit, Pan African Federation of Filmmakers (FEPACI) executive director Jane Murago Munene on Thursday said the goal is to mobilise Sh20.2 billion ($200 million) in two years for the sector’s growth.
“The funding seeks to enhance the quality and quantity of films, documentaries and other forms of audiovisual productions,” she said.
The summit is part of the Ambika Afrika Safari Film Festival scheduled for the same week from October 12 to 19.
According to Africa Audiovisual and Cinema Commission (AACC), the sector accounts for $5 billion in African Gross Domestic Product.
It employs an estimated five million people and is expected to create over 20 million jobs.
