Durban FilmMart Head Magdalene Reddy on Africa’s Financing Boom, Transformative Power of Cinema and How to ‘Create a New Vision’ for the Continent

As a devoted cinema enthusiast with a deep appreciation for the transformative power of films, I am thrilled to learn about the 15th edition of the Durban FilmMart (DFM) and its focus on African visions and socially responsible storytelling. The emphasis on creating a new vision for Africa through film resonates deeply with me, as I have witnessed firsthand how cinema can challenge perspectives, spark conversations, and inspire change.

As a filmmaker based in South Africa, I am thrilled to see the Durban FilmMart return to our beautiful sun-soaked coastline for its 15th edition. Having attended this esteemed event several times before, I can attest to its transformative power in showcasing African visions and unlocking the immense potential of our creative industries.

Magdalene Reddy, head of Durban FilmMart Institute, shares that this year’s event will explore the significant query: “What fresh perspective can we develop for Africa’s future?”

“Film holds an extraordinary ability to influence and change perspectives. In light of current world events, we’ve decided to encourage filmmakers this year to create more socially and environmentally conscious stories or productions,” Reddy shares with EbMaster. “By being responsible, we mean making a positive impact on our community and preserving the natural world.”

At this year’s DFM, taking place from July 19th to 22nd, an extensive and diverse event is taking place. This gathering aims to unite industry experts to discuss pressing topics such as the influence of artificial intelligence, safeguarding intellectual property, ethical labor practices, gender equality, adhering to industry standards, and the effects of climate change on film and television production. Reddy emphasizes the aim is not just to maintain conventional discourses but to explore cinema’s capacity for transformation, while also presenting a mix of emerging and accomplished filmmakers from various parts of the continent.

“According to Reddy, Durban FilmMart serves as a platform for showcasing fresh projects. This enables international investors, film programmers, broadcasters (local and international), to engage with the latest offerings from the African continent. They can discover emerging talents, uncover compelling new stories, and explore opportunities to finance these projects, ultimately bringing them to wider audiences.”

At the event, you’ll find Nicola Ofoego, the acquisition chief at Black Mic Mac in Paris; Katie Irwin, an agent and international co-head at WME Independent; Frédéric Fiore, Logical Pictures Group’s film and TV equity president; Emad Eskander, head of the Red Sea Film Fund; Dorothy Ghettuba, Netflix’s content director for sub-Saharan Africa; and Chris Mack, Netflix’s creative talent director.

Each year, the DFM’s pitching and co-financing forum shines as a significant event. It provides African filmmakers with an opportunity to present their fiction, documentary, or animation projects in development to a gathering of financiers, broadcasters, streaming services, festival programmers, and producers. At this year’s edition, we will feature 30 emerging projects, among which are new works from Cyrielle Raingou, the Rotterdam Film Festival laureate for “Le Spectre de Boko Haram,” and Firas Khoury, a Cairo festival winner with his film “Alam.”

During this year, an exciting development is the launch of the CANEX Deal Room in partnership between the Durban FilmMart and Afreximbank, the Cairo-based African Export-Import Bank. Last year, Afreximbank unveiled a $1 billion film fund as part of their Creative Africa Nexus Program (CANEX), marking another ambitious step to foster African creative industries. The deal room provides an opportunity for accomplished African filmmakers with commercially successful films under their belts to present their projects in development directly to financiers and investors.

Reddy asserts that the new initiative signifies the rapidly changing film financing scene in Africa. With an increasing number of international funds being established and focusing on African content, she explains, this presents a significant opportunity for Africa to leave a lasting impression globally. She cites the recent launch of Logical Pictures Group’s Africa venture, first reported in EbMaster, as evidence. This development opens doors for Africa to secure substantial financial backing from these facilities.

At this year’s Durban FilmMart, marking South Africa’s 30-year anniversary since transitioning to democracy, the topic of transformation will be front and center. Several panels will delve into the country’s thriving film and television industry – the most advanced in Africa – as it strives to reach its fullest capacity.

Ready expresses optimism about the significant progress of the South African business scene since the country’s first democratic elections in 1994. She remarks, “The past 30 years have seen us establish a platform for filmmakers who previously couldn’t showcase their films or be heard. Democracy has granted them this opportunity. An increasing number of filmmakers, who lacked resources and production experience before, are now creating films – a fresh development for our nation.”

2024-07-19 17:18

Durban FilmMart Head Magdalene Reddy on Africa’s Financing Boom, Transformative Power of Cinema and How to ‘Create a New Vision’ for the Continent

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