AAA gets $3.8m funding from Afreximbank
African distribution company AAA Entertainment has received a US$3.8m film finance development facility from multilateral trade finance institution African Export–Import Bank (aka Afreximbank).
The facility will support the development and production of 11 greenlit film projects, in collaboration with production companies from Kenya, Zimbabwe, Nigeria and South Africa.
Afreximbank said the projects will employ the services of cast, crew and small to medium-sized enterprises of different African nationalities for all productions.
“We believe the facility will allow for more intra-African coproduction agreements, fostering a more integrated film value chain for the continent,” said the bank.
Johannesburg- and Lagos-based AAA Entertainment is one of the few all-round African sales and distribution companies. It both exports African content to the world market and distributes content within Africa to all linear and non-linear platforms and theatrical outlets.
The company is also one of the few Netflix content partners in Africa that works with several global aggregators and distributors for the biggest digital content platforms, like Amazon, iTunes, Google Play, Hulu, Sony, X Box and Vudu.