Regional Secretariat Western 1, Pan African Federation of Filmmakers (FEPACI) has announced the establishment of the African Film Cinema Fund. The fund has a target $50 million and will be available to cinema professionals from Africa and the Diaspora for production and distribution.
This initiative, it was stated in a statement recently, follows the launch of the Pan African Cinema Fund May 20 2010 at theCannes Film Festival through the partnership between International Organization La Francophone OIF and Federation Pan Africaine des Cineastes FEPACI. “This partnership was announced by Frederic Bouilleux Director of French language and Cultural Diversity at OIF at a press conference in the pavilion des Cinemas du Monde at the Cannes International Film Market in the presence of Charles Mensah President FEPACI, Madame Seipati Bulane-Hopa Secretary General, Monsieur Liazid Khodja (Regional Secretary North Africa) and Madu C. Chikwendu (Regional Secretary Western Region 1).
“The creation of the African Film Fund is a mandate given to FEPACI by the African Union heads of government in Maputo Mozambique in 2003.The establishment of this fund is also a major resolution of African Film Summit in Pretoria South Africa The implementation of this mandate started with the launch in Cannes.The creation of this fund anticipates the establishment of larger fund by FEPACI and OIF and further aims to stimulate the emergence of private and public funding mechanisms like the Nigerian Film Fund or perhaps AMAA Film Fund.
” The African Film Cinema Fund is designed as specialized entity that will focus on the creation of distribution infrastructure across the continent. The fund will interface with existing public institutions like World Bank, African Development Bank, International Finance Corporation, Bank of Industry (Nigeria), Central Bank of Nigeria, Small and Medium Enterprise Investment Scheme (SMEIS) and private investments amongst others. Detailed interim report on the operations of the fund will be ready for FEPACI Congress at FESPACO 2011.
The African Film Cinema Fund will focus on stimulating co production and distribution partnerships across the continent and beyond. The fund will be formally launched in Lagos Nigeria in November 2010.
According to Chikwendu, Nigeria is the most populous nation in Africa with a vibrant democracy, rapidly expanding economy and robust film industry. “It is only proper that these structures become the foundation for the first ever African Film Cinema Fund. This wonderful new initiative will provide much needed support for the partnership between OIF and FEPACI.I enjoin all stakeholders to support this fund which will administered in the most transparent manner.