Here are five key things to know about the landmark move.
1. Hibiscus Finance Will Focus on Film Funding
The newly licensed Hibiscus Finance will serve as a specialised financial platform dedicated to film and TV production funding. Its core mission is to provide structured financing, grants and investment support to filmmakers within Nollywood and across Africa’s creative sector.
2. It Has Approval from the Central Bank of Nigeria
The initiative has secured a licence from the Central Bank of Nigeria, giving the company the regulatory backing required to operate as a finance institution. This makes it one of the few formal financing platforms tailored specifically for the film industry in Nigeria.
3. The Announcement Was Made at a Major Film Industry Summit
Mo Abudu revealed the development during her keynote remarks at the Lagos Business of Film Summit, convened by Ope Ajayi and powered by Cinemax. The summit gathered filmmakers, investors and industry stakeholders to discuss the future of Nollywood.
4. It Could Solve Nollywood’s Biggest Challenge
Despite being one of the largest film industries in the world by production volume, Nollywood has long struggled with limited access to institutional financing. Hibiscus Finance could provide capital for larger productions, international collaborations and improved production quality.
5. A Major Boost for Nigeria’s Creative Economy
Industry observers believe the initiative could attract new investment into Nollywood and Africa’s storytelling economy. By creating a structured financing pathway, Hibiscus Finance may help position Nigeria as a global hub for film production and creative enterprise.
With this move, Mo Abudu is once again pushing the boundaries of Africa’s entertainment ecosystem — this time by building the financial infrastructure Nollywood has long needed to scale globally.
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