This initiative, known as the Next Narrative Africa Fund, is set to invest in film projects across the continent with budgets ranging between $1 million and $5 million per project.

The fund plans to offer both equity investments and grants to filmmakers.

Over the next four years, the fund aims to raise and deploy its full $40 million, with a target of securing an initial close in the first quarter of 2025 and a final close by the end of the fourth quarter of the same year. Initial investments are expected to begin in 2025.

This fund represents a significant opportunity for African filmmakers as interest in the continent’s film and audiovisual industries continues to grow.

Nigeria’s Nollywood and South Africa’s film sectors have been leading the charge, attracting global attention and delivering impressive returns for investors.

For example, some Nollywood investors have reportedly seen returns up to three times their initial investments.

Since 2016, major streaming platforms like Netflix have invested approximately $178 million in African film content.

The Next Narrative Africa Fund will focus on supporting commercially viable projects with international appeal, with a particular emphasis on films that address themes such as gender and racial equity, democracy, governance, climate, health, and inclusive economic growth.

Projects must be primarily produced in Africa to qualify for investment.

“We’re excited to support creatives who aspire to not only entertain but also inspire and reshape the global narrative around Africa and people of African descent,” said Akunna Cook, CEO and Founder of Next Narrative Africa.

An advisory board composed of entertainment executives, filmmakers, film distributors, and narrative change experts will guide the fund’s investments.

Notable members of the board include Darcy Heusel from Neon, Areej Noor of Statement Films, Dominic Buchanan of Home Team, and Chin Okeke from Misan Partners.

In addition to financing films, the fund will also invest in the broader film and TV infrastructure across Africa.