Mo Abudu, the CEO of EbonyLife Media, has announced a groundbreaking achievement for Africa’s creative industry. In partnership with Kuramo Capital, EbonyLife has launched the Afro Film Fund (AFF), a $50 million initiative designed to amplify African storytelling on a global scale.
The announcement was made through a series of social media posts by Mo Abudu on Instagram and LinkedIn, as well as at the Africa Investment Forum (AIF) Market Days 2024, held in Rabat, Morocco. The AFF was the only creative-sector project selected to feature at the forum, which connects project sponsors directly with investors. Since its inception, the AIF has driven over $180 billion in investment interest across various sectors, including energy, technology, and infrastructure.
In her posts, Mo Abudu described the AFF as more than just financial backing. “The Afro Film Fund is about igniting a vibrant and diverse African cinematic voice,” she shared. “…We want to tell compelling stories, with high production values, talented casts, and global appeal.”
The AFF will finance feature films that spotlight African narratives, aiming for theatrical releases or direct streaming platforms. It will offer filmmakers across the continent a chance to pitch their projects to a technical advisory board. According to Abudu, the fund represents years of dedication to securing Africa’s rightful place in the global creative economy.
Kuramo Capital’s involvement lends credibility to the initiative. The investment firm has catalyzed $3.5 billion for African private equity and businesses, anchored over 15 funds, and supported more than 350,000 jobs. The African Development Bank (AfDB) has also expressed interest, with plans to invest up to 20% of the fund’s target size, subject to internal approvals.
For EbonyLife Media, this marks another milestone in its mission to bring African stories to the world. Abudu believes the Afro Film Fund is a pivotal step forward.
As investors, government representatives, and business leaders rally behind the AFF, it’s clear that Africa’s creative industry is poised for transformative change. With the promise of exciting projects ahead, the future of African storytelling has never looked brighter.
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