Nairobi will next week host a two-day summit on how to finance the film industry in Africa.
The over 200 delegates are expected at the meeting in Nairobi which kicks off on Thursday to brainstorm on ways of promoting and fostering development in the industry through commercial funding.
Pan African Federation of Filmmakers (FEPACI) executive director Jane Murago Munene said Thursday they will be seeking to raise about Sh20.2 billion ($200 million) in two years to promote development.
“The funding seeks to enhance the quality and quantity of films, documentaries and other forms of audiovisual productions,” she said.
According to Daily Nation, the delegates will be drawn from the film, banking and media industries.
Themed Africa Film Finance Summit, the meet will also provide delegates with a platform for financial institutions, film-makers, entrepreneurs and regulators to learn from experienced peers on what it takes to fund the sector.
The summit is part of the Ambika Afrika Safari Film Festival slated for October 12 to 19.
According to Africa Audiovisual and Cinema Commission (AACC), the sector accounts for $5 billion in African GDP and employs an estimated five million people.
It is forecast to create over 20 million jobs.