Given the relevance and opportunities provided by the creative economy as a key driver for development and job creation, Afreximbank has deployed the Creative Africa Nexus Programme to facilitate the development and growth of the creative and cultural industries in Africa and the diaspora. The programme provides a range of financing and non-financing interventions to support Africa’s production, trade and investment in creative assets and development of the broader ecosystem. At the initial phase, the Canex Programme is focusing on Fashion, Film, Music, Arts/Crafts and Sports.
In light of this, the Durban FilmMart will be hosting a ‘CANEX Deal Room’, where filmmakers/entrepreneurs will be given the opportunity to present bankable projects in the Creative and Cultural Industries to financiers and investors. Afreximbank will consider Debt transactions for Film and Television and related infrastructure.
Africa-based enterprises (public or private) registered on the African continent and bound by company laws of one of Afreximbank’s participating states.
Entities either fully or partly owned by Africans in the diaspora, provided proof of link to an African in Diaspora is established; with the Africa ownership component being at least 25 per cent of enterprise value (proof of link to the diaspora must be established)
Companies must have been operating for at least 3 years with a demonstrated history of executing and delivering projects in their respective sectors. With the exception of projects in the infrastructure creative related, textile manufacturing and sports facilities, as those transactions can be done under green-field or brown field project finance basis.
ELIGIBILITY REQUIREMENTS BY SECTOR (ONLY CINEMA AND AUDIOVISUAL)
Film and Television
An established track record (minimum of 3 commercially successful titles and US$1m in revenues at the time of application) of commercially successful films which has been distributed across intra and (or) extra African territories;
Be either the lead producer on the project or have signed a co-production (or service) agreement with an international production company;
Signed distribution agreements with distribution networks, streaming platforms etc.
For funded transactions, provide or demonstrate a minimum equity contribution of 20 per cent of the expected cost outlay/budget
Applicants should be either an existing cinema owner or retailer for cinema investments; studio developers, new or established film/TV/animation schools, new or existing animation studios and TV stations OR They must be music professionals with a demonstrated history in the music industry with a successful history of delivering such projects.
Applicants can also be governments or private sector companies engaged in the development of sports related facilities and arenas such as Stadiums.
Applicants must have obtained all the necessary regulatory approvals/planning permits needed to commence construction.
Applicants must have a signed turnkey agreement with a reputable EPC contractor, where the EPC contractor bears the risks for any unforeseen contingencies relating to the construction;
On a build to own basis, applicants must demonstrate capacity to operate and maintain the asset once completed or have signed an operation and maintenance (O&M) contract with a reputable company.
Applicants must have a signed put or pay contract with suppliers.
Applicants must demonstrate a proven track record of successfully completing and monetizing similar film infrastructure projects in the past.
Applicants must have a completion guarantor, preferably a financial institution. Personal guarantors are not acceptable.
MEETING AND REVIEW PROCESS
The points below detail the expectations and proceedings of each meeting:
Saturday, 22 July @ 13:30 – 18:00 (Venue: Elangeni Hotel Small Ilanga)
Sunday, 23 July @ 13:30 – 18:00 (Venue: Elangeni Hotel Small Ilanga)
Monday, 24 July @ 13:30 – 18:00 (Venue: Elangeni Hotel Small Ilanga)
Proposals to declare sort of financing sought – debt, equity or both, ahead of time;
Each meeting shall have at least 3 finance officers/investors from various financial institutions who will consider financing or co-financing credible opportunities that meet the minimum requirements stipulated;
Each meeting will hold for no more than 30 minutes;
Applicants will be given 5-10 minutes to present their projects;
Deals that progress shall be issued a Heads of Terms within five business days from receiving all information required.
NB: Deadline for Presentation decks to be submitted is CoB 21st, July 2023.
Please send your proposals/decks to be reviewed by Close of Business, 21st, July 2023 to:
Creative Africa Nexus
Name: Andrew Masuwa
Name: Feyisayo Adetiba
Name: Victor Mukete
Proposals must be received not later than the deadline. Any clarification requests should be submitted to the above-mentioned email address. Late submissions will be disqualified.