Cannes, France, May 18, 2025 – In a bold move to reinforce Nigeria’s leadership in the global creative economy, the Federal Ministry of Art, Culture, Tourism and the Creative Economy has signed a landmark Memorandum of Understanding (MoU) with the Africa International Film Festival (AFRIFF), establishing the AFRIFF Film and Content Market (AFCM), a pioneering marketplace poised to reposition Africa as a major player in the global film, television and digital content industries.

The official signing took place at the prestigious Cannes Film Festival, where the Honourable Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa, Esq., reaffirmed the Federal Government’s commitment to harnessing the creative industry as a tool for sustainable economic growth through strategic partnerships and international collaboration.

“The creative industry is one of our nation’s most valuable assets, and we are intentional about nurturing it into a sustainable driver of economic growth. This partnership is not just a milestone for the film sector, but a major leap in our creative and cultural diplomacy,” the Honourable Minister Hannatu Musa Musawa, Esq. stated.

Representing AFRIFF at the signing was its visionary founder, Chioma Ude, whose longstanding contributions to African cinema continue to amplify the continent’s narrative on the world stage. The ceremony was witnessed by key stakeholders including Ali Nuhu, Managing Director of the Nigerian Film Corporation, and celebrated actor and comedian, Bovi Ugboma.

Set to debut at AFRIFF 2025 in Lagos, the AFRIFF Film and Content Market will serve as a premier international hub, connecting African and global content creators, investors, distributors and policymakers. The initiative not only strengthens Nigeria’s position as a creative powerhouse, but also aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises economic diversification through innovation and culture.

The market’s development will be guided by renowned Film and Media Industry Director, Dennis Ruh, who serves as the lead consultant on the project.

AFRIFF is also proud to announce a strategic partnership with Goldfinch International, a global entertainment finance leader with a portfolio of over $300 million deployed across more than 300 successful deals. With a 0% default rate and an average return of 11–13% on its institutional lending portfolio, Goldfinch has built a strong reputation across Asia, Indonesia and the MENIA region. Led by Philip McKenzie, co-founder and COO, Goldfinch is now expanding its global footprint into Africa, with the AFRIFF Film and Content Market as its entry point to invest in the continent’s creative infrastructure.

The agreement represents a shared vision to build a world-class platform where African and international professionals can connect to buy, sell, finance and distribute audiovisual content.

The inaugural AFRIFF Film and Content Market will feature:
• Curated showcases of African and international content
• Project pitch sessions connecting creators with financiers and partners
• International exhibitions showcasing innovation in content production and distribution
• High-level networking events encouraging global collaboration

About the Federal Ministry of Art, Culture, Tourism and the Creative Economy
The Ministry is dedicated to formulating policies and initiatives that promote Nigeria’s cultural identity and economic development through the arts, heritage and creative industries. It continues to drive national and global partnerships that enhance Nigeria’s cultural diplomacy and creative exports.

About AFRIFF
The Africa International Film Festival (AFRIFF), established in 2010, is a globally respected platform committed to showcasing African stories through film screenings, industry training, and masterclasses. AFRIFF continues to empower filmmakers and deepen the global footprint of African cinema.

About Goldfinch
Goldfinch, an Academy Award and BAFTA-winning British film production and entertainment financing company, has financed over $300 million in productions with a gross production value exceeding $500 million. Through its subsidiaries like Dreamtown and Selectors, and initiatives such as First Flights, Goldfinch supports talent development across scripted, non-scripted and factual formats. With a firm focus on emerging markets, Goldfinch International is expanding into Africa to provide funding and advisory services that drive growth across the creative sector.