In $100m Deal, AFRIMEX To Build “World Class” Film Studio In Lagos

The African Export-Import Bank (Afreximbank) has signed a partnership agreement with Silverbird Group for the construction of a “world class” film studio complex in Lagos, Nigeria.

Helen Brume, director, project and asset-based finance, Afreximbank and Ben Murray-Bruce, founder of Silverbird Group, signed the agreement  on the side-lines of the Africa investment forum (AIF) in Côte d’Ivoire, on Thursday.

The deal is worth $100 million – comprising of both debt and equity investment.

A joint statement issued by Afreximbank and Silverbird said the complex would be known as the Ben Murray-Bruce Studios and Film Academy (BMB Studios and Film Academy).

According to the statement, the project would transform a 32,725 square meter land area in Eko Atlantic City into two purpose-built sound stages, a digital hub with music and broadcast studios, editing bays, screening rooms, studio backlot, production offices and a film academy designed to meet the aspirations of today’s and tomorrow’s content creators.

“The project seeks to accelerate Africa’s lucrative film and television industries, attract large scale international productions to Africa, and establish a creativity cluster which will draw in companies and talents working in similar and related sectors,” the statement reads.

“The project will also increase local employment, stimulate business growth, and equip African talents with world class technical skills and experience in film and television production through the establishment of a film academy.”

On his part, Murray-Bruce said the BMB Studios and Film Academy is a response to Africa’s need for world-class technical skills and facilities that will accelerate the growth of its creative industries sector.

“From Netflix to Madison Square Gardens in New York, audiences are revelling in the magic of African storytelling,” he said.