Grace Ashiru
The Nigerian production company LaVida Studios has been awarded a production investment of $50 million.
A preliminary investment of fifty million dollars has been made available by PAC Capital Limited for LaVida’s film and television projects, including the partnership with The Story Lab. The money comes from the PanAfrican CCI Fund 1, managed by PAC Capital. This fund has a total of one hundred million dollars and is explicitly earmarked for financing film production and distribution in Africa.
LaVida Studios is a production company specialising in the Nigerian film genre known as Nollywood, with its headquarters in Lagos.
Within the three-year collaboration with The Story Lab, They will produce ten films and television shows to showcase African narratives to an international audience.
This investment comes from a fund PAC Capital established with a hundred million dollars exclusively to help the financing of filmmaking and distribution within Africa. This is the first instalment of the PanAfrican CCI Fund.
In addition, Dentsu and LaVida intend to work with African International Film Festival to make a joint program that will recognise and assist the most talented African writers in their attempt to craft original works that appeal to audiences all over the world. This program will identify and support the most talented African writers in their efforts.
