CANEX Creations CEO Osahon Akpata outlines a strategic vision for how the Pan-African institution can raise the profile of the continent’s filmmakers, while Neon releases first look images of CANEX-backed Clarissa, the buzzy Lagos-set adaptation of Virginia Woolf’s Mrs. Dalloway, which premieres May 16 in the sidebar of Cannes Directors’ Fortnight.
Directed by Ally and Chuko Esiri and produced by brothers Teresa Park and Nicholas Weinstock, Clarissa also stars Sophie Okonedo (Hotel Rwanda), David Oyelowo (Selma The film stars India Amarteifio (Queen Charlotte), Ayo Edebiri (The Bear) and Toheeb Jimoh (Ted Lasso) and tells the story of a Lagos socialite hosting an event. It’s bittersweet as once-close friends come together to reflect on their complicated relationships, passionate love, hidden desires, and lost aspirations.
Neon gave Variety an exclusive behind-the-scenes look at the Esiri brothers on the set of the movie. The duo, whose Berlinale debut Eyimofe (This Is My Desire) was released in the US by Janus Films, shot Clarissa in 35mm in Lagos and Delta states, Nigeria, with production financing for the shoot in Nigeria fully provided by CANEX Creations and MBO Capital.
The film marks the latest cinematic strategy for CANEX Creations, a pan-African investment platform seeking to dramatically expand the reach of the continent’s creative sector. It is a subsidiary of the Equity Investment Division of the African Export-Import Bank (Afreximbank) and was established in March 2024 as part of the bank’s broader strategy to invest in Africa’s growing but still largely untapped creative economy.
Akpata, who was named CEO of CANEX Creations last September, told Variety in an interview ahead of the anticipated premiere of Clarissa that the company’s goal is to “invest in IP, commercialize IP and scale it globally.”
This mission aligns with Afreximbank’s broader agenda across its various divisions, a multi-pronged effort that highlights the urgent challenges facing Africa’s policy makers and institutions today: boosting the continent’s creative sector through tools such as financing, capacity building, export promotion and policy advocacy.
“Africa has a very young population, and the creative industries employ more people between the ages of 15 and 29 than any other sector,” says Akpata. “According to UNESCO, by 2050, a quarter of the world’s population will live in Africa, and the majority will be under the age of 30. Seeing that, (CANEX) decided that we needed to do something about these industries, which are critical to the future of the African continent.”
CANEX Creations CEO Osahon Akpata
Courtesy of Mr. Ike Ude
As both a job creator and an instrument of soft power that helps reshape Africa’s image abroad, the film industry is a key part of CANEX Creations’ blueprint. Other films in the company’s portfolio include “Dust to Dreams,” a short film directed by Idris Elba and produced by Elba and Mo Abdou, which premiered at Toronto International Airport. film festival; and Angelina Jolie-starring drama Muganga, the Healer, inspired by the work of Nobel Peace Prize winner Dr. Dennis Mukwege, was shortlisted for this year’s Build Your Dream Award, presented by electric car maker BYD and Media One in Cannes.
Now, CANEX Creations is taking the Croisette by storm with “Clarissa.”
When one of the Esiri brothers first pitched the film a few years ago, Akpata says he was “shocked” by the premise, although he admits that “the package wasn’t quite complete” at the time. But a year later, with Okonedo, Oyelowo, Edebiri and the rest of the star-studded cast on board, Akpata knew “this is something we could be a part of.”
It certainly helped that the film’s sales rights were acquired by Neon, the sense-making indie distributor that will be competing at this year’s Cannes Film Festival for the sixth consecutive year. But the appeal went beyond the Palme d’Or collection on the indie brand’s mantelpiece.
“All African films are independent,” Akpata points out, noting that Neon “understands how to bring international independent films to markets like the United States.”
“Clarissa” highlights the strategic focus of CANEX Creations’ portfolio, which is as much about profitability as it is about stellar red carpet premieres. “We are a commercially driven organization, not a grant-making organization,” Akpata says. “First of all, the commercial viability of the film is important.”
To that end, Akpata and his colleagues, who have acquired what he calls a “strategic minority stake” of roughly 20 to 40 percent, are looking for packages that combine high-profile talent with established distributors and sales agents and filmmakers with a track record of commercial success.
Along with strengthening its structure, Akpata said CANEX Creations is “looking very hard at distribution and audience development[in Africa],” adding that “we have multiple vehicles within Afreximbank that can address all aspects of the film value chain.”
“The fact remains that African film and television content currently has limited commercialization due to distribution (challenges),” he says. “We’re very interested in seeing that broken. We can’t just rely on exports to monetize content. We need to be able to have a strong domestic market.”
