Ademola Elebute: From Banker to Film Financier - Bridging the Gap in African Cinema
Ademola Elebute, a former banker from the UK and Nigeria, is now a film financier attending the Berlinale film festival. He has supported Olive Nwosu's film "Lady," set in Lagos, which is making its European premiere in Panorama. Elebute is interested in co-financing projects from filmmakers in Africa and other under-represented regions of the world. He left his job at Citibank in London to establish Amplify Capital, aiming to connect high net worth individuals and banking colleagues with capital to invest in films.
Elebute is currently exploring investment opportunities in films ranging from $300,000 to $3 million and is eager to join projects at the development stage. Growing up in Nigeria and Togo before moving to the UK for education, he spent a decade in London's banking sector while maintaining a passion for literature and philosophy. His early film investments included projects like "The Line" and "Tòkunbò," which provided insights into the lack of formal financing structures for Nigerian filmmakers.
Inspired by his experiences, Elebute saw an opportunity to bridge the gap between capital providers and filmmakers in Nigeria. His involvement in "Lady" came about through connections in the industry, leading to the film's successful premiere at Sundance. With financing from Film4, the BFI, and Screen Scotland, the film explores the dark side of Lagos' sex industry. Elebute, splitting his time between Lagos and London, aims to move beyond individual investors and engage institutional fund managers to ensure long-term sustainability for film financing.
While Elebute is open to collaborating with investors globally, he emphasizes the importance of involving local African investors in projects with African filmmakers. By mobilizing local capital, he hopes to shift the narrative around economic rights and control within the continent. His vision is to empower filmmakers and ensure that ownership and decision-making remain within the African film industry. As he continues to navigate the world of film financing, Elebute is determined to create a framework that supports filmmakers from under-represented regions and fosters sustainable growth in the industry.