A partnership between EbonyLife Media and Kuramo Capital has given birth to the Afro Film Fund (AFF). The fund will prioritise feature films with theatrical release or straight-to-streaming potential, with a focus on showcasing African stories to a global audience.
Mo Abudu, CEO of EbonyLife, announced the partnership on her Instagram account, revealing that the AFF is targeting up to $50 million to invest in film projects based on African narratives with global appeal. The fund will focus on investments in single projects or opportunities along the value chain that offer competitive risk-adjusted financial returns and enrich global cinematic storytelling.
Abudu said in the post: “After several months of a rigorous assessment and proposal process, I am delighted to announce that the EbonyLife Group, in partnership with Kuramo Capital, has been invited by the African Development Bank and the Africa Investment Forum (AIF) to participate in their prestigious boardroom sessions. These sessions serve as structured platforms connecting project sponsors directly with investors.”
Market Days
According to Abudu, the Afro Film Fund has been selected as the only creative-sector project from the continent to feature in the Africa Investment Forum’s (AIF) 2024 Market Days, taking place in Rabat, Morocco.
Abudu added that the Afro Film Fund is not just about financial investment, but about igniting a vibrant and diverse African cinematic voice. The initiative will focus on high-quality production values, compelling scripts, and talented cast and crew, with the aim of attracting international audiences while delivering strong returns.
The partnership between EbonyLife Group and Kuramo Capital brings together two industry leaders with a track record of success. Kuramo Capital has catalysed $3.5 billion for African private equity firms and businesses, anchoring over 15 funds and supporting more than 350,000 jobs.
Abudu believes that this initiative marks a pivotal moment for Africa’s creative sector. “Finding African solutions to African challenges is no longer optional. It’s essential,” she said. “By harnessing our unique perspectives, resources, and talents, we can craft innovative strategies that address the specific needs of our industry.”
According to the fund’s strategy, investments will be spread across a portfolio of feature film projects, with funding available for projects at various stages of development and production. The AFF will consider funding projects solely or alongside other co-production partners.
