Showbiz
Afreximbank Floats $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.
By Modupe Gbadeyanka
A Nigerian actress, Temitope Osoba, fondly called Tope Osoba by her fans, has reportedly passed away.
She died barely a year after she survived a battle with breast cancer, reports say.
The 41-year-old entertainer left the acting world to cater to her health, but returned shortly after she had a successful treatment in 2025.
The movie producer, however, has not been very active in the past months, ostensibly due to her health.
Her demise has come as a shock to some of her colleagues and admirers, as she was very lively during her lifetime.
Details about the unfortunate incident, which became known to her fans on Wednesday morning, have not been given by her family.
The first official voting of Big Brother Naija Season 11 is here, and fans have the power to decide who stays in the House and who leaves the competition.
After a week of getting to know the housemates, watching alliances form and seeing personalities emerge, this is where fans move from watching the game to influencing it. If you’ve been thinking about voting, here are five reasons why now is the time.
1. This Is the Season’s First Real Eviction
First evictions are always significant. They set the tone for the weeks ahead, reshape the House and often change the direction of the game. Viewers hold the power to change the trajectory of the game as they influence who continues their BBN journey and who the first set of housemates to leave are.
2. It’s Too Early to Lose Someone You Enjoy Watching
You may not have settled on a favourite housemate yet, and that’s perfectly normal. It’s only the first eviction. But if there’s someone you’ve enjoyed watching over the past week, this is your chance to help keep them in the House. Waiting until you’ve picked a favourite could mean losing a housemate you wish had stayed a little longer.
3. Every Vote Shapes the Competition
Who stays and who leaves affects everything from alliances and rivalries to tasks and strategies. The decisions viewers make this week will have an impact on how the game unfolds in the coming weeks.
4. Online Buzz Doesn’t Keep Housemates in the House
A housemate may trend all week, but that doesn’t automatically translate into safety. At the end of the day, it’s the votes that determine who survives eviction.
5. Don’t Leave It to Someone Else
It’s easy to assume other fans will do the voting, but every vote contributes to the final result. If there’s a housemate you’d like to see remain in the competition, this is your opportunity to back them.
Here’s How to Vote
Voting is available through the MyDStv app and MyGOtv app, as well as the Africa Magic voting website.
To vote:
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Register or log in using your mobile number and password.
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Select your favourite housemate.
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Choose the number of votes you’d like to cast.
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Submit your votes before the voting window closes.
Looking to boost your voting power? You can also earn bonus votes by playing games and completing quizzes on the MyDStv app and MyGOtv app.
The voting window for the first eviction is now open and closes on Thursday at 10:00 p.m. If there’s a housemate you’d like to see in the House for another week, be sure to cast your votes before the deadline.
Catch all the drama live and 24/7 on DStv channel 198 and GOtv channel 49. BBNaija season 11 is also available to watch on DStv Stream and GOtv Stream. For updates and exclusive news, visit www.africamagic.dstv.com/
After days of anticipation, Flora and Aikou have been confirmed as this season’s Gambits after receiving the highest number of votes from viewers. This was revealed during Sunday’s live show, where host Ebuka Obi-Uchendu announced the pair as the viewers’ choices.
Introduced as a brand-new twist for Season 11, The Gambit guarantees two selected housemates a place in the House until the final day. Although they will participate in tasks and House activities throughout the season, they will not be eligible to compete for the grand prize.
Sunday’s live show also marked the end of the Ladies-versus-Gentlemen format that defined the opening weeks of the competition. With the teams officially dissolved, the housemates will now compete as individuals.
Biggie also unveiled this week’s wager task, Game On, challenging the housemates to define the identity of Season 11. Through a creative presentation incorporating elements such as a logo, slogan, song, artwork and props, the housemates have been tasked with capturing what they believe this edition of Big Brother Naija should stand for and how they want it to be remembered.
The excitement continues today with the second Head of House Challenge at 2:00 p.m., where housemates will once again battle for power in the House. This will be followed by this week’s nomination show at 7:00 p.m., when viewers will find out who will become the first set of housemates to face possible eviction.
With Flora and Aikou’s fate in the House secured till the last day and the housemates now playing as individuals, the stakes have never been higher as the battle for the grand prize gathers momentum.
Viewers can enjoy the 24/7 BBNaija Season 11 experience on DStv and GOtv, or stream every episode live on DStv Stream and GOtv Stream.
For more updates, visit Africa Magic’s Big Brother Naija page and follow #BBNaija on X (@bbnaija), Instagram (@bigbronaija) and Facebook (Big Brother Naija).
