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Afreximbank Floats $1bn African Film Fund

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$1bn African Film Fund

By Adedapo Adesanya 

The African Export-Import Bank (Afreximbank) is establishing a $1 billion African Film Fund in 2024 to support the continent’s movie industry.

This information was disclosed by the Executive Vice President for Intra-African Trade Bank at Afreximbank, Mrs Kanayo Awani, in Cairo, Egypt, during her address at the opening of the 2023 Creative Africa Nexus (CANEX) Summit held as part of the third Intra-African Trade Fair (IATF2023).

IATF2023 is Africa’s largest trade and investment fair opened yesterday and will run till November 15, 2023.

Mrs Awani said that the fund would oversee film financing, co-finance with large studios, finance African filmmakers, and finance producers and directors of film projects across the continent.

She noted that during CANEX WKND 2022, its initiative to support Africa and the African Diaspora’s creative and cultural industries by providing financing and non-financing instruments, the bank had increased the financing it was making available to the creative sector from $500 million to $1 billion and that the bank currently had a pipeline of over $600 million in film, music, visual arts, fashion, and sports deal.

“The very first film we financed recently premiered at the Toronto Film Festival,” Mrs Awani said, adding, “The bank has several in the pipeline from Nigeria, South Africa, and Kenya, which should be on streaming platforms in 2024.”

Acknowledging that the film and audiovisual industries in Africa accounted for $5 billion of the continent’s GDP and employed an estimated five million people, with the potential to create over 20 million jobs and generate $20 billion in revenues annually, Mrs Awani noted that the sector faced several challenges, including limited access to financing and copyright infringement due to weak copyright laws, enforcement mechanisms and a lack of awareness.

The sector was also confronted with infrastructure and technology gaps, lack of capacity and shortage of skilled professionals, and limited market access and international exposure, as a result of which African creative and cultural products often struggle to gain exposure and access to international markets.

Earlier, Boris Kodjoe, a celebrity actor of Ghanaian descent, highlighted how the creativity of Africans had influenced various aspects of modern life, including music, fashion, art, design, social consciousness, business, sports, film and TV. He said that the exploitation of black creativity by the West had had lasting effects and that, despite admiration of black excellence, Africa still faced branding challenges due to external perception fuelled by the traditional media’s depiction of poverty, famine, civil wars and migration on the continent.

The seven-day CANEX Summit is intended to further develop conversations and provide additional business-to-business and business-to-government opportunities. It includes a fashion show featuring a range of bold and exciting designs from across Africa and the Diaspora and a CANEX Music Factory, hosted by renowned South African producer Oskido, which will provide songwriters and beatmakers with the opportunity to record their work.

The CANEX programme set up by Afreximbank seeks to facilitate the development and growth of the creative and cultural industries in Africa and the diaspora. The programme provides a range of financing and non-financing instruments and interventions aimed at supporting trade and investment in Africa’s creative sector.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Catch the Drama on Our Husband, The Yard, and Wings on Africa Magic

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Africa Magic The Yard, Our Husband, Wings

There’s something about Lagos weather, whether it’s the heavy rains or the blazing afternoon sun, that makes you want to stay indoors, crank up the fan or AC, and get lost in a captivating story. That’s exactly what Our Husband, The Yard, and Wings on Africa Magic Showcase and GOtv bring to your screen: high-stakes drama that keeps you hooked no matter what’s happening outside.

If you’ve been keeping up, you already know the tension is sky-high. But if you’ve missed a few episodes, here’s a spoiler-free catch-up that reminds you why these shows are unmissable.

OUR HUSBAND
Zara and Tiny’s lives are no longer just intertwined by the same man; now they’re bound by grief, secrets, and revelations that keep unfolding. Each episode uncovers more of Azuka’s hidden life, and just when you think the drama has reached its peak… another twist emerges.

In recent episodes, Tiny’s guilt over Azuka’s death intensifies, leading her to spiral into despair. Her emotional turmoil leads to a suicide attempt, sending shockwaves through the lives of those around her. Meanwhile, Zara is left to pick up the pieces of Azuka’s double life, facing challenges that test her resilience and strength in unimaginable ways.

THE YARD

Mon – Fri | 8:00 PM

Odafe and Tega have formed an alliance to challenge the corruption at Ajagoro bus park. However, their mission is becoming increasingly perilous. In the latest episodes, Tega uncovers a betrayal from someone close, and Odafe struggles to maintain control as his father’s influence looms large. The deeper they delve into the system’s corruption, the more they risk becoming entangled in it themselves.

WINGS

Thurs & Fri | 8:30 PM

Deino and Yani’s relationship is evolving amidst a backdrop of corporate intrigue. In recent episodes, Deino’s investigation into Sun’Sú Airlines uncovers disturbing secrets, including connections to her late boyfriend’s mysterious death. As the airline fights for a national carrier license, Deino must navigate a treacherous web of lies, power, and betrayal, all while her feelings for Yani complicate matters further.

Don’t let another episode of Our Husband, The Yard, and Wings slip away because this is drama on a whole different level.

Renew your GOtv subscription or upgrade your package today using the MyGOtv App or dial *288#. And if you’re always on the move, never miss a moment with the GOtv Stream App, your favorite shows right at your fingertips anytime, anywhere.

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Sally Leaves Nigerian Idol Season 10 in First Live Elimination

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Sally Nigerian Idol Season 10

This week’s episode of Nigerian Idol was a mix of excitement and tension as “Blockbuster Night” marked the season’s first live elimination. The return of DJ Sose to the judging panel alongside Ric Hassani and Iyanya added a welcome sense of nostalgia.

Before performances began, the show revealed the first elimination based on viewers’ votes. Sadly, Sally was the first to leave, but her exit performance of “In Love With Another Man” showcased why she’d made it to the top 10, leaving a lasting impression.

With the competition now narrowed to nine contestants, the episode introduced a fun twist: the judges each had a golden trophy to award to standout performers, and they participated in a light-hearted movie trivia challenge that kept the atmosphere lively. DJ Sose quickly identified “May the odds be ever in your favour” from The Hunger Games, earning cheers from the crowd, while Ric Hassani later nailed “Keep your friends close but your enemies closer” from The Godfather.

The performances were nothing short of electric.

Mikki opened with a smooth, heartfelt take on “Remember Me” by Miguel, earning praise from the judges.

Bammy’s interpretation of “Stand by Me” by Ben E. King showed emotional depth, connecting deeply with the timeless classic and reminding fans why he’s a frontrunner.

Bosslady wowed with Brandy’s “Starting Now,” highlighting her versatility.

Jkenova delivered an energetic rendition of Michael Jackson’s “Man in the Mirror,” leaving the judges in awe.

Lawrence continued the Michael Jackson theme with a heartfelt performance of “Will You Be There,” capturing the song’s emotional core.

Ellacentric offered a delicate yet powerful performance of Rihanna’s “Lift Me Up.”

Khristopher surprised with a creative twist on Beyoncé’s “Crazy in Love (Remix).”

Raymu impressed with “I Want to Know What Love Is,” his soulful approach connecting with the audience.

Purp closed the night with a stunning performance of ABBA’s “The Winner Takes It All,” earning standing ovations and two trophies for her standout delivery.

In the trophy presentations, Purp received trophies from DJ Sose and Ric Hassani, while Iyanya awarded his to Mikki for his flawless performance.

As the episode wrapped up, host IK reminded viewers that voting lines were open and fans could vote via the Africa Magic website, mobile site, or DStv and GOtv apps to keep their favorite contestant in the competition.

Nigerian Idol continues every Sunday at 7 PM on Africa Magic Showcase (DStv Ch. 151, GOtv Ch. 12) and Africa Magic Family (DStv Ch. 154, GOtv Ch. 2) and is also available on Showmax, GOtv, and DStv Stream apps.

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Coronation Celebrates Art Patronage, Cultural Stewardship

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Coronation Art Gallery1

By Adedapo Adesanya

Top financial service institution, Coronation Group, hosted a landmark art exhibition to celebrate art patronage and cultural stewardship.

The event held on May 29 brought together an elegant gathering of Nigeria’s leading business minds, creatives, diplomats, and cultural custodians for an evening that reaffirmed the transformative power of art to connect, elevate, and preserve.

Coronation Art Gallery’s first showcase of the year was curated under the theme Custodians of Legacy: Collecting with Purpose.

The exhibition featured the private collections of Mr Hakeem Adedeji and Ms Ngozi Edozien — two visionary collectors whose patronage of African art spans decades. Their works, thoughtfully selected and presented by curator Ms Ugoma Ebilah, invited guests into a moving journey through identity, memory, and meaning.

The programme drew high-profile figures, including Ms JoEllen Gorg, Acting Consul General at the US Consulate General, Lagos; Mr Aigboje Aig-Imoukhuede, Chairman of Coronation Group; and a mix of CEOs, diplomats, clients, art patrons, and collectors.

Among them were Mrs Nimi Akinkugbe, Mr Femi Akinsanya, Mr Nduka Obaigbena, Dr Godwin Ehigiamusoe, among others.

Held at the Coronation Art Gallery in Victoria Island, Lagos, the exhibition further reinforced Coronation’s commitment to platforms that elevate culture while deepening client engagement.

Since its founding in May 2022 under the vision of Mr Aig-Imoukhuede, the gallery has showcased rare private collections, including last year’s landmark exhibition headlined by the Honourable Minister of Finance, Mr Wale Edun, which celebrated prominent female collectors and cultural leaders.

Commenting on the May exhibition, Mrs Ngozi Akinyele, Chief Marketing and Communications Officer at Coronation, noted: “This exhibition is special because it reflects the full arc of the art ecosystem — spanning creation, curation, collecting, conservation, and commerce.

“Coronation is proud to be at its heart, using our own programming and partnerships to democratise access to art and support the growth of the creative economy in a way that’s both inclusive and enduring.”

On his part, Mr Jibola Odedina, CEO Coronation Securities, said, “The Coronation Art Gallery reflects who we are and what we value. Our quarterly exhibitions remind our clients and community that legacy isn’t just what you build financially; it’s what you preserve culturally, and pass on thoughtfully.”

Sharing his personal journey as a collector and patron of the arts, Mr Hakeem Adedeji said, “I have been collecting Samuel Ajobiewe’s works for over 25 years. We set up Kobomoje, a residency in Ibadan, and we run programmes that support artists. We support people who do various activities within the ecosystem — not because we want anything in return — but because it gives me satisfaction that I’m supporting the whole art ecosystem.”

At the event, guests were encouraged not only to engage with the art, but to reflect on the deeper narrative behind the collections — one rooted in the timeless African values of care, memory, and the pursuit of impact.

Coronation Art Gallery reiterated its commitment to position itself as a platform that transcends aesthetics, serving as a meeting point for art, capital, and culture.

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