Movie producer Mosunmola Abudu, also known as Mo Abudu, has announced that she has secured a Central Bank of Nigeria (CBN) license for a film finance
Movie producer Mosunmola Abudu, also known as Mo Abudu, has announced that she has secured a Central Bank of Nigeria (CBN) license for a film finance company.
She also revealed that she has secured a global distribution partnership with Sony Pictures Releasing.
Mo revealed that the finance company, Hibiscus Finance, is not yet operational but has received regulatory approval to proceed, adding that the next phase involves identifying the right partners to structure a hybrid model that combines financing with grants. She emphasized that her efforts are driven by a commitment to supporting the next generation of filmmakers.
Mo also unveiled the Afro Film Fund (AFF), a new initiative developed in collaboration with the International Finance Corporation (IFC) and the African Development Bank (AfDB). The fund is intended to provide financing for film projects ranging from $2 million to $8 million, ensuring that high-quality productions can reach global audiences.
