Afreximbank, Mediwood Studios Sign $3m Deal To Boost Film Industry

The African Export-Import Bank (Afreximbank) has signed a Term Sheet with Mediwood Studios, securing a US$3 million facility to support the expansion of the Tunisian studio’s operations.

The agreement, formalised on the sidelines of the recently concluded Creative Africa Nexus Weekend (CANEX WKND) 2024, aims to position Tunisia as a premier filmmaking destination within the Middle East and North Africa (MENA) region.

Mediwood Studios will channel the funding into expanding its infrastructure, providing world-class facilities for both domestic and international productions.

In a statement made available to journalists yesterday, executive vice president of the Intra-African Trade Bank, Kanayo Awani, who spoke on behalf of Afreximbank at the signing ceremony, emphasised the bank’s commitment to supporting Africa’s creative economy.

She 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. This is part of our mandate to support Africa’s creative industries through the CANEX Programme.

“The expansion of Mediwood Tunisia’s studio facilities will position Tunisia as an attractive hub for domestic and international film productions, enhancing the country’s visibility and appeal to global filmmakers and support the promotion of Africa’s narratives and talent.”

Mediwood Studios CEO, Mr. Mehdi Ajroudi, expressed optimism about the impact of the expanded facilities on Tunisia’s creative sector.

“At Mediwood Studios, we believe it’s time for Africa to become the storyteller, sharing our heritage, dreams, and voices with the world,” he said.

According to the statement, the partnership reflects Afreximbank’s broader mission to enhance Africa’s cultural influence and economic relevance.