Fresh Forty Million Dollar Fund Established for Aid to African Cinema Creators

A new investment fund dedicated to supporting African filmmakers has been announced by Next Narrative Africa, a Nigerian media production company, in partnership with HEVA Fund, a Kenyan-based investment firm. The Next Narrative Africa Fund aims to raise and deploy a total of $40 million over the next four years.

The fund will primarily invest in films with budgets ranging from $1 million to $5 million per project. Initial investments are anticipated to begin within the same year as the fund's final close, which is targeted for the end of the fourth quarter of 2025.

The Next Narrative Africa Fund will be guided by an advisory board consisting of entertainment executives, filmmakers, film distributors, and experts in narrative change. Notable members of this board include Darcy Heusel of Neon, Areej Noor of Statement Films, Dominic Buchanan of Home Team, and Chin Okeke of Misan Partners.

Akunna Cook, CEO and Founder of Next Narrative Africa, expressed her excitement about the opportunity to support creative individuals who aim to entertain, inspire, and change the narrative about Africa and its people.

The fund will not only invest in films but also in the broader film and television ecosystem, including infrastructure development. This investment comes at an opportune time, given the growing interest in Africa's film and audiovisual industry.

Recently, Nigeria's Nollywood and South Africa's film industries have captured significant attention, topping box office charts and generating substantial returns for investors. Some Nollywood investors have reported returns of up to three times their initial investment.

Since 2016, major players like Netflix have invested approximately $178 million in film content production across the continent. The Next Narrative Africa Fund presents a new opportunity for investment, given this growing interest.

The projects funded by the Next Narrative Africa Fund will tackle themes such as gender and racial equity, democracy and governance, climate change, health, and inclusive economic growth. The fund will invest in commercially viable projects with global appeal, primarily produced in Africa.

The Next Narrative Africa Fund is poised to make a significant impact on the African film industry, offering a unique opportunity for investors to support creative storytelling and contribute to the continent's cultural and economic growth. The first close is scheduled for the first quarter of 2025.