Afreximbank Signs $3 Million Deal With Mediwood Studios To Expand Facilities, Boost Tunisia’s Film Industry

The African Export-Import Bank (Afreximbank) has signed a US$3 million term sheet with Tunisia’s Mediwood Studios to support the expansion of its filmmaking facilities, further cementing Tunisia’s role as a leading destination for film production in the Middle East and North Africa.

A press statement released by Afreximbank revealed that the agreement was signed during the Creative Africa Nexus Weekend (CANEX WKND) 2024 held in Algiers, Algeria.

The term sheet was signed by Kanayo Awani, Executive Vice President of Afreximbank’s Intra-African Trade Bank, and Mehdi Ajroudi, Chief Executive Officer of Mediwood Studios, on 19 October 2024. The facility will be used to enhance Mediwood Studios’ infrastructure, enabling it to accommodate both domestic and international productions and position Tunisia as a global filmmaking hub.

Commenting on the agreement, Awani said, “By enhancing Tunisia’s filmmaking infrastructure, we hope to attract international productions, foster local talent, and promote authentic regional narratives, thereby reinforcing Africa’s cultural influence globally.”

She emphasised that this move aligns with Afreximbank’s mandate to support Africa’s creative industries through its CANEX Programme, contributing to economic integration, job creation, and the promotion of Africa’s narratives and talent.

On his part, Ajroudi expressed that the expansion would stimulate economic activity in Tunisia’s creative sector, generating jobs across pre-production, production, and post-production stages. He added, “At Mediwood Studios, we believe it’s time for Africa to become the storyteller – sharing our heritage, dreams, and voices with the world.”

The four-day CANEX WKND 2024 event, organised by Afreximbank, concluded on 19 October and brought together almost 4,000 participants from diverse creative sectors across Africa.

Ozioma Samuel-Ugwuezi

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