By Onu Okorie
African Export-Import Bank (Afreximbank) and Mediwood Studios in Tunisia have signed a Term Sheet for a US$3 million facility aimed to Strengthen Mediwood’s position as a key contributor to the growth of the Tunisian film industry.
As part of the agreement, signed on 19 October 2024 on the sidelines of the just concluded Creative Africa Nexus Weekend (CANEX WKND) 2024, Mediwood Studios will use the proceeds of the term loan facility for the expansion of its studio facilities so as to showcase Tunisia as a filmmaking destination and provide world class facilities for both domestic and international productions in the Middle East and North Africa.
Signing the Term Sheet on behalf of Afreximbank was Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade Bank, and Mr. Mehdi Ajroudi, Chief Executive Officer of Mediwood Studios, on behalf of his company.
Commenting on the deal, Mrs. Awani stated that Afreximbank was committed to ensuring that Africa’s creative economy remained relevant on the global stage while enhancing economic integration, job creation and bridging of cultural divides.
“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.”
Mr. Ajroudi, on his part, said that the expanded studio facilities would foster job creation and skills development across pre-production, production and post-production activities as the world-class infrastructure would accommodate large-scale productions capable of stimulating economic activity in 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.
The four-day CANEX WKND 2024, organised by Afreximbank was held from October 16 to 19 under the theme “One People, United in Culture, Creating for the World” and was attended by almost 4,000 participants — representing a diversity of creative sectors from across Africa.
It featured live performances, speeches by industry leaders and experts, masterclass sessions, fashion shows, sporting events, high energy music concerts and gastronomical showcases alongside a vibrant market and exhibitiodn.