Nassau, The Bahamas, 27 June 2024: –African Export-Import Bank (Afreximbank), its investment impact subsidiary, the Fund for Export Development of Africa (FEDA), and JVL Media, LLC, have signed a Memorandum of Intent (MoI) to collaborate in developing Africa’s nascent film value chain, promoting the Global African experience in cinemas around the world. The MoI was signed during Afreximbank Annual Meetings (AAM2024) and the third AfriCaribbean Trade & Investment Forum (ACTIF) held in Nassau, Bahamas between June 12 and 15, 2024.
Through its Creative Africa Nexus (CANEX) programme, Afreximbank has been at the forefront of boosting the creative industry in Africa spanning sectors such as music, sports, arts, literature, fashion, gastronomy and culinary arts. Africa is home to a growing youthful population making it one of the largest film consumer markets.
JVL Media is an American based company associated with renowned actress Ms. Viola Davis, the winner of the coveted EGOT (Emmy, Grammy, Oscar, Tony). JVL produces literature and film for a diverse audience worldwide. The partnership between the Bank and JVL Media will afford both parties the opportunity to tap into a wider pool of talent and investors within Global Africa, to mobilise resources needed to grow the industry and push forward African film content.
Speaking at the signing ceremony, Mrs. Kanayo Awani, Executive Vice-President of Intra-African Trade and Export Development, Afreximbank, said: “Africa’s film industry is a vibrant and successful part of our continent’s creative and cultural sector, and is a key driver for development and job creation. Our collaboration with JVL Media, which focuses on Africa and the African diaspora, also aligns with the gathering momentum for a Global Africa, which seeks to unite Africans, its diaspora, and their descendants, regardless of geographic location, as a potent force to unlock the prosperity we seek, and to take our development into our own hands.”
Ms. Marlene Ngoyi, Chief Executive Officer of the Fund for Export Development of Africa, noted: “This partnership will enhance cultural representation and stimulate economic growth by creating jobs and fostering new opportunities in the film industry across the continent and the diaspora.”
Ms. Viola Davis, an EGOT (Emmy, Grammy, Oscar, Tony) winning actress and co-founder of JVL Media, LLC, emphasized the significance of storytelling in reshaping the African narrative. She mentioned that the common portrayal of poverty and suffering is deliberately upheld to rationalize mistreatment by oppressors. Therefore, it’s crucial for Africans to claim their own narrative.
This announcement follows Afreximbank’s recent launch of the CANEX Prize for Publishing in Africa, a partnership between the CANEX Book Factory and the Narrative Landscape Press Limited. The CANEX Book Factory aims to promote a vibrant literary culture across Global Africa and encourage the development of a sustainable business ecosystem in the literary sector. Winners will be awarded during the Award Ceremony at the CANEX WKND to be held in Algiers, Algeria between 16-19 October, 2024