Labari Africa Production Launches With $3 Million Film Fund

Already a major film industry globally, Nollywood is set to enjoy even more success with the launch of Labari Africa Productions, a production company newly established by director Femi D. Ogunsanwo and financial sectors execs Tunde Leye and Adedayo Amzat, and with it, a $3 million film fund.

All three men have previously partnered on the Nollywood romantic comedy Funding Hubby and its sequel Finding Hubby 2, with Ogunsanwo directing both. “We are excited to launch this new film fund and support a new wave of Nollywood filmmakers who tell the important stories that help position Africa favorably,” says Leye. “This $3 million fund will help provide the resources and support filmmakers need to bring their stories to life and showcase the incredible talent and creativity of the Nigerian film industry to the world”

The $3 million fund will be used to produce a number of Nollywood features, and to support local filmmakers to develop and produce new films, providing mentorship and on-set training opportunities for emerging talents and supporting distribution and marketing efforts. 

Already the fund has yielded a film, the recently produced heist-thriller The Lagos Job, produced and directed by Ogunsanwo, with Dare Olaitan writing the screenplay. Starring Joselyn Dumas, Baaj Adebule, Antar Laniyan, Omowunmi Dada, Ade Laoye, Bimbo Manuel, Frank Donga and Daniel K. Daniel, the film centres on a young woman’s quest to avenge her father’s death. 

Future investments, Leye says, will see the completion of at least one short film and a feature-length film script.

“From its humble beginnings, Nollywood has become a major contributor to the Nigerian economy, contributing 2.3 percent (about $600 million) to Nigeria’s GDP in 2021,” says Labari general partner Amzat. “We believe the time is right to bring expertise from the world of finance to bear on how our films are funded and ensure Nollywood’s continued growth and success. The fund will be open to established and emerging filmmakers, focusing on supporting projects that showcase Nigeria’s diverse culture and talent.”