Nigeria’s Silverbird Group and AAA Entertainment of South Africa have signed a partnership deal to develop and produce a slate of cinematic feature films on the African continent.
The partnership deal was announced in a statement jointly signed by AAA Entertainment’s Head of Distribution and Financing, Mayenzeke Baza and Founder Silverbird Group Ben Murray-Bruce last week in Durban.
According to the statement, the deal is valued at $50 Million and will focus on the African Export Import Bank’s (Afreximbank) USD500 million Creative Industry Programme for financing.
This partnership agreement was signed at the Afreximbank pavilion at the Intra African Trade Fair (IATF) whichbended on Sunday in Durban, South Africa and was witnessed by Afreximbank’s Augustine Chukwuemeka Uzoh , ManagerTrade and Corporate Finance (Intra-African Trade Initiative).
AAA Entertainment is expected to bring to the partnership an experienced film development, financing and production team, facilities and partnership network, while Silverbird Group brings its cinema exhibition and distribution infrastructure and experience in West Africa and the rest of the continent, as well as its studio facilities and network in Los Angeles.
AAA Entertainment has distributed and executive produced some of the top South African box office hits and is looking to expand that success to the rest of the continent.
Their experience in the distribution and sales of African content locally and globally, combined with Silverbird
Group’s reach and understanding of the rest of the African cinema market, will ensure that a slate of well-developed and produced films can reach a global audience, while being relatable and entertaining for the domestic African Market.
“We are excited about this partnership as it provides an opportunity to create great content between the two biggest markets on the continent, namely Nigeria and South Africa, and allows us to access pan African private equity and state funding,” Baza said.
Also commenting on the partnership, Ben Murray-Bruce said: “Silverbird has a long history in the Nigerian Media and Entertainment sector. We began our journey as a live entertainment events company and expanded that into a network of Television and radio station properties. We have successfully built the premiere West African film
distribution & exhibition company and now it is with excitement that we pivot into the feature film production sphere by announcing our partnership with AAA Entertainment.”
The partnership will be working exclusively with African and African American talent, looking to bridge the two markets and talent communities, and the first talent collaboration initiated by the Silverbird Group is with Grammy award winning producer, songwriter and board member of the Creative African Advisory Group Vincent Berry II, who was present at the signing of the partnership at the Afrexim Bank stand at the IATF.