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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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Nigerian Idol Season 10 Winner Purp Visits Rite Foods

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Purp Nigerian Idol Season 10 Winner Rite Foods

In a moment filled with joy and gratitude, Purp, winner of Nigerian Idol Season 10, paid a courtesy visit to Rite Foods Limited, expressing heartfelt appreciation to the company’s flagship brand, Bigi, for its continuous sponsorship of the hit reality music show.

Accompanied by Raymu, the show’s dynamic runner-up, Purp hailed Bigi’s five-year sponsorship of Nigerian Idol as a beacon of hope and opportunity for aspiring music talents across Nigeria.

“This platform has changed my life,” said the 25-year-old Lagos-born singer, Anu Agosa (aka Purp). “From the early days in church choirs to theatre stages, I’ve always dreamt of moments like this. Bigi didn’t just sponsor a show, they sponsored dreams, and I’m deeply thankful.”

A product of rich musical heritage, raised by a choir-leading mother and shaped by the harmonies of gospel music, Purp’s electrifying performances won the hearts of millions, culminating in her victory and a grand prize that includes a brand-new SUV, N30 million cash, a DStv Explora with a one-year premium subscription, and a music recording deal.

Welcoming the rising star, the chief executive of Rite Foods Limited, Mr Seleem Adegunwa reaffirmed the company’s commitment to youth empowerment and creative excellence.

“At Rite Foods, we believe in platforms that reflect our core values, innovation, excellence, and accountability. Nigerian Idol is one of those platforms, and through Bigi, we’re proud to be nurturing tomorrow’s icons,” Mr Adegunwa stated.

He reminded her that dreams do come through when accompanied by grit and excellence, which is also the story of Rite Foods, praising Purp for her discipline, artistry, and determination throughout the competition, encouraging her to remain steadfast as she embarks on her music career.

“You’ve inspired a generation,” he noted. “Now the real journey begins, and you will always have Bigi rooting for you.”

He added that as a proudly Nigerian and truly world-class organisation, Rite Foods, through its consumer-first culture, will continue to support initiatives that enable Nigerian youths to thrive and be seen, not just locally, but globally.

Purp, visibly elated, described the win as both humbling and motivating, saying, “Winning came as a surprise, but it’s a reminder that hard work and passion always pay off. I’m grateful to Bigi and Nigerian Idol for this life-changing opportunity. This is just the beginning.”

With her vibrant energy, soulful voice, and compelling story, Purp is poised to be one of Nigeria’s next big music exports, and her journey is one that began with a bold belief in herself and the support of brands that dare to dream with their consumers.

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Tiktok Removes 3.6 million Harmful Videos in Nigeria to Protect Users

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TikTok ban

By Modupe Gbadeyanka

Over 3.6 million videos were removed in Nigeria on Tiktok in the first quarter of 2025 because they violated community guidelines, Business Post has learned from the platform’s Q1 2025 Community Guidelines Enforcement Report.

In a report released by the popular social media platform, it was also disclosed that in March 2025, about 129 accounts in West Africa tied to covert operations were removed to protect users.

These actions were taken by the Chinese app in a demonstration of its ongoing commitment to user safety.

It was stated that the harmful visuals deleted in Nigeria between January and March 2025 were 50 per cent higher than the videos yanked off between October and December 2024.

TikTok said the latest removals report represents a small fraction of the total number of videos posted by the Nigerian community quarterly; highlighting that the platform has more positive and empowering content.

With millions of positive, educational and entertaining videos uploaded on TikTok every day, TikTok is continually strengthening its ability to identify and remove content that goes against its Community Guidelines.

TikTok LIVE

While TikTok LIVE enables creators and viewers to connect, create and build communities together, in real-time, the platform has intensified its LIVE Monetization Guidelines, making it clearer how some content is not eligible for monetization.

LIVE content enforcement also remained a top priority. In the first quarter of 2025, TikTok banned 42,196 LIVE rooms and interrupted 48,156 streams in Nigeria that were found to violate the platform’s community guidelines.

A global system for localised protection

Globally, more than 211 million videos were removed in Q1 2025, up from 153 million in the previous quarter, with over 184 million removed through automation. The platform’s global proactive detection rate reached 99 per cent, demonstrating continued improvements in identifying and removing harmful content quickly and effectively.

Despite these high-volume interventions, harmful content still represents a very small portion of what users post. Globally, less than 1 per cent of content uploaded to TikTok is found to violate its community guidelines, a testament to its continued prioritisation of proactive safeguards.

Bringing resources to Nigeria’s community, together

In June, TikTok Africa hosted its “My Kind of TikTok Digital Well-being Summit” bringing together experts, NGOs, creators, media and industry leaders from across Sub-Saharan Africa, including Nigeria, to collectively explore, tackle, and improve the state of digital wellbeing both on and beyond the platform.

Part of a suite of announcements made at the Summit and building on a successful pilot in Europe, TikTok is expanding in-app helpline resources to Nigeria, in partnership with Cece Yara, a child-centered non-profit organisation prioritising youth safety and support. This means that in the coming weeks, young users in Nigeria will have access to local helplines in-app that provide expert support when reporting content related to suicide, self-harm, hate, and harassment.

Collaborating with experts, TikTok has also announced Nigeria’s Dr Olawale Ogunlana (Doctor Wales) as a TikTok Digital Well-being ambassador, part of a diverse group of verified healthcare professionals from the WHO Fides Network.

Alongside these efforts and commitment to safety, TikTok encourages community participation through user reporting and education. As part of its ongoing #SaferTogether campaign, the platform advocates for a more collaborative approach to creating a respectful online environment.

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4 Remarkable Ways to Show Your Loved Ones You Got Them

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GOtv packages

In a world full of words, it’s easy to say “I got you,” but it’s the actions that truly count. Whether it’s family, friends, or loved ones who have been in your corner, the best way to show appreciation isn’t always through grand gestures but through the little things that make everyday life better.

That’s why GOtv is leading by example with its We Got You deal, reminding Nigerians that love is best expressed through meaningful action. From now until July 31, this offer is proof that doing something small can have a big impact.

Here are four ways to show the people in your life that you really got them:

  • Be Present, Not Just Available

Sometimes, all someone needs is your undivided attention. Whether it’s spending quality time watching their favourite shows, helping out when they’re tired, or just showing up when it counts, presence matters. GOtv makes it easy to enjoy quality time together, from thrilling football matches and Nollywood hits to laugh-out-loud moments on Big Brother Naija. So instead of just being in the same room, why not plan a fun TV night together and turn moments into memories, one episode at a time?

  • Surprise Them with Something Thoughtful

Being thoughtful doesn’t mean breaking the bank.  Even a small gift that aligns with their interests can go a long way. With GOtv’s We Got You deal, new and existing customers get a free one-month subscription when they reconnect or upgrade, so you can surprise someone by paying for their subscription this month.

  • Support Their Every Win, No Matter How Small

Whether it’s cheering them on during a job interview, showing up for school events, or letting them take over the remote when their favourite show is on, support is love in action. GOtv is constantly expanding its content pool to ensure there’s something for everyone. From cartoons for the kids to lifestyle shows for Mum and epic football clashes for Dad, there’s joy for every member of the family, and supporting that joy starts with giving them access to what they love.

  •  Share Moments That Matter

You don’t need a special occasion to make someone feel special. A spontaneous lunch, a heartfelt message, or even inviting them to come chill while watching Africa Magic or SuperSport can go a long way. Shared experiences create deeper bonds, and GOtv provides a platform to build those moments every day.

GOtv’s We Got You offer is a timely reminder that real love shows up in simple, practical ways. So the next time you say “I got you,” let it be more than a promise but something you live out loud. Reconnect, upgrade, or gift someone a GOtv package today because when it comes to love, actions always speak louder.

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