Hollywood Nigerian Movies Regina Daniels

Nigerian Film Banner Labari Africa Launches With $3 Million Nollywood Fund (Exclusive)

The fund, which was founded by the director Femi D. Ogunsanwo and the financial professionals Tunde Leye and Adedayo Amzat, has previously invested in the robbery thriller "The Lagos Job."

Hollywood Nigerian Movies Regina Daniels

   

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With the establishment of a new production firm and accompanying $3 million film fund, Nigeria's already thriving film industry will receive an additional boost.

Director Femi D. Ogunsanwo, finance industry executives Tunde Leye, and Adedayo Amzat, who previously collaborated on the Nollywood love comedy Finding Hubby and its follow-up Finding Hubby 2, have founded Labari Africa Productions.

The $3 million fund from the brand is intended to help a number of Nollywood films, as well as local filmmakers' attempts to develop and produce new movies, mentor up-and-coming actors, provide them experience on set, and aid in marketing and distribution. According to Labari Africa, this is the first of several sums that will be raised in the

Leye, the managing partner of Labari Africa, said, "We are pleased to announce this new film fund and assist a new crop of Nollywood filmmakers that portray the vital tales that help position Africa favourably." This $3 million fund will assist in giving filmmakers the tools and assistance they require to bring their stories to life and demonstrate to the world the great talent and originality of the Nigerian film industry.

Hollywood Nigerian Movies Regina Daniels

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The Lagos Job, a recently finished heist thriller that was produced and directed by Ogunsanwo, is the first investment made from the fund. Joselyn Dumas, Baaj Adebule, Antar Laniyan, Omowunmi Dada, Ade Laoye, Bimbo Manuel, Frank Donga, and Daniel K Daniel star in the movie, which follows a young woman's quest to avenge the death of her father at the hands of a powerful and well-connected rival. U.K.-based filmmaker Charles Oleghe oversaw cinematography. According to Leye, future investments will result in the production of at least one short film and a script for a full-length movie.

According to Labari general partner Amzat, "Nollywood has grown from its modest beginnings to become a substantial contributor to the Nigerian economy, adding 2.3 percent (about $600 million) to Nigeria's GDP in 2021. "We think the timing is perfect to apply financial industry knowledge to how our movies are financed in order to maintain Nollywood's success and growth. The fund will reward films that highlight Nigeria's unique culture and talent, and it will be accessible to both established and up-and-coming filmmakers.

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