The 13th Africa International Film Festival (AFRIFF) underscored the significant economic potential of Africa's film sector, highlighting the urgent need for improved data collection and transparency to attract investment.

Folajemi Ali Balogun from MBO Capital reported that the firm has created over 2,000 jobs through its funded film projects and has raised more than N3 billion in capital since the beginning of 2023.

Balogun also emphasized the necessity for better data-sharing practices, noting that financiers often face challenges due to a lack of reliable information.

Austin Uche from the Bank of Industry revealed that the bank has disbursed over N15 billion to support Nigeria's film industry and is actively working on new initiatives to address financing challenges.

Phil Southwark advocated for a sector-wide approach that encompasses support for talent development, business growth, and enhancement of post-production skills.

Southwark criticized Nigeria's inconsistent global image and urged the government to leverage its creative and sports sectors to improve international branding.

Ody Akhanoba from Afreximbank shared that the bank initially invested $500 million in the creative industry, later increasing this to $2 billion, and launched Canex Creations Inc. to mitigate risk and retain intellectual property within Africa.

Akhanoba also discussed Afreximbank's focus on cultural exports through film financing, explaining that projects are evaluated based on their representation of African culture.

Southwark pointed out that a robust film ecosystem can generate significant employment opportunities and stimulate economic activity.

He expressed optimism that by avoiding the sale of films to non-African platforms, Canex Creations Inc. would enhance investment in African films and preserve the industry's long-term value.

Finally, he stressed the importance of aggregating data to clarify investment opportunities for financial markets, which is essential for informed operational decisions.