Afreximbank and Mediwood Studios Sign $3M Deal to Boost Tunisian Film Industry

The CANEX WKND 2024, organized by Afreximbank from October 16 to 19, drew nearly 4,000 participants from diverse creative sectors across Africa.

The African Export-Import Bank (Afreximbank) has partnered with Mediwood Studios in Tunisia, signing a Term Sheet for a US$3 million facility aimed at strengthening the country’s film industry. The agreement was formalized on 19 October 2024 during the Creative Africa Nexus Weekend (CANEX WKND) 2024.

The funds from the term loan will enable Mediwood Studios to expand its studio facilities, positioning Tunisia as a prime filmmaking destination. This initiative is designed to attract both domestic and international productions from the Middle East and North Africa (MENA) region, providing state-of-the-art facilities that meet global filmmaking standards.

The Term Sheet was signed by Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade Bank, representing Afreximbank, and Mr. Mehdi Ajroudi, CEO of Mediwood Studios.

Impact on the Tunisian Film Industry

Mrs. Awani expressed that the deal is part of Afreximbank’s commitment to keeping Africa's creative economy relevant on the global stage. She emphasized the importance of enhancing Tunisia’s filmmaking infrastructure to attract international productions, nurture local talent, and promote authentic regional narratives.

“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 film productions, enhancing the country's visibility to global filmmakers,” she stated.

Mr. Ajroudi added that the expanded facilities would significantly contribute to job creation and skills development across various stages of filmmaking—pre-production, production, and post-production.

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

CANEX WKND 2024 Highlights

The CANEX WKND 2024, organized by Afreximbank from October 16 to 19, drew nearly 4,000 participants from diverse creative sectors across Africa. The event was themed "One People, United in Culture, Creating for the World" and included a variety of activities such as:

Live performances

Speeches by industry leaders and experts

Masterclass sessions

Fashion shows

Sporting events

High-energy music concerts

Gastronomic showcases

A vibrant market and exhibition

This partnership between Afreximbank and Mediwood Studios is expected to be a catalyst for growth in Tunisia's film industry, enhancing the country’s role as a key player in Africa's creative economy.