Canex Creations Boss Talks Global Ambitions for African Film as Neon Drops First Look for Buzzy Cannes Premiere ‘Clarissa’ (EXCLUSIVE)

CANEX Creations CEO Osahon Akpata has outlined his strategic vision for how the pan-African institution can boost the profile of the continent’s filmmakers, while Neon has released a first-look image for the CANEX-backed “Clarissa,” the buzzy, Lagos-set adaptation of Virginia Woolf’s “Mrs. Dalloway” that premieres May 16 in Cannes’ Un Certain Regard sidebar.

Directed by Arie and Chuko Esiri and produced by the brothers alongside Theresa Park and Nicholas Weinstock, “Clarissa” stars Sophie Okonedo (“Hotel Rwanda”), David Oyelowo (“Selma”), India Amarteifio (“Queen Charlotte”), Ayo Edebiri (“The Bear”) and Toheeb Jimoh (“Ted Lasso”) in the story of a Lagos society woman hosting a gathering of once-intimate friends that becomes a bittersweet reckoning on their intricate relationships, passionate love, hidden desires and lost aspirations.

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Neon has given Variety an exclusive behind-the-scenes look at the Esiri brothers on the set of the film. The duo, whose Berlinale-premiering debut, “Eyimofe (This Is My Desire),” was released stateside by Janus Films, shot “Clarissa” in 35mm in Lagos and Delta State, Nigeria, with production financing for the Nigeria shoot provided entirely by CANEX Creations and MBO Capital.

The film marks the latest cinematic gambit for CANEX Creations, the pan-African investment platform that’s looking to dramatically expand the reach of the continent’s creative sector. A subsidiary of the African Export-Import Bank’s (Afreximbank) equity-investment arm, it was established in March 2024 as part of the bank’s broader strategy to invest in the continent’s growing but still largely untapped creative economy.

Speaking to Variety ahead of “Clarissa’s” anticipated premiere, Akpata, who was tapped as CANEX Creations’ CEO last September, says its goal “is to invest in IP, commercialize IP and scale it globally.”

That mission dovetails with Afreximbank’s broader agenda, through its various arms, to boost the continent’s creative sector through tools including financing, capacity-building, export promotion and policy advocacy, a multi-pronged effort that underscores the urgent challenge facing African policymakers and institutions today.

“The population of Africa is very youthful, 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 people in the world are going to be in Africa, and the majority of them are going to be under the age of 30. Looking at that, [CANEX] decided that we need to do something about these industries that are important to the future of the continent.”

As both a job creator and an instrument of soft power that helps to reshape the image of Africa overseas, the film industry is a key part of the CANEX Creations blueprint. Other films in its portfolio include “Dust to Dreams,” a short film directed by Idris Elba and produced by Elba and Mo Abudu which premiered at the Toronto Intl. Film Festival; and “Muganga, the One Who Treats,” an Angelina Jolie-backed drama inspired by the work of Nobel Peace Prize laureate Dr. Denis Mukwege which was a finalist for this year’s Build Your Dream Award, presented by electric car manufacturer BYD and Mediawan in Cannes.

Now, with “Clarissa,” CANEX Creations will take the Croisette by storm.

When one of the Esiri brothers first pitched the film several years ago, Akpata says he was “blown away” by the premise, though he admits “they didn’t have the package fully done” at the time. One year later, however, with the likes of Okonedo, Oyelowo, Edebiri and the rest of the star-studded cast on board, it became clear to Akpata that “this is something we can get involved in.”

It certainly helped that the film’s sales rights were acquired by taste-making indie distributor Neon, which enters this year’s Cannes Film Festival on a six-year winning streak. The appeal, however, went beyond the collection of Palme d’Ors on the indie outfit’s mantelpiece. 

“All African films are independent,” Akpata notes, and Neon “have got an understanding of how to get international, independent films into markets like the U.S.”

“Clarissa” underscores the strategic focus of the CANEX Creations portfolio, which is based as much on profitability as starry red-carpet premieres. “We’re a commercially driven entity — we’re not a grant-making organization,” says Akpata. “The first thing is the commercial viability of the film.”

To that end, Akpata and his colleagues — who take what he describes as a “strategic minority stake” of roughly 20-40% — are on the hunt for packages that combine recognizable talent with established distributors and sales agents and filmmakers that have a track record of commercial success.

Along with building out its slate, Akpata says CANEX Creations is “looking at distribution and audience development [in Africa] very intently,” adding that “we do have multiple instruments within Afreximbank that will be able to address all aspects of the film value chain.

“The fact remains that, right now, African film and TV content, the ability to commercialize it is constrained because of distribution [challenges],” he says. “We are very interested in seeing it cracked. We cannot rely on only exports for the purpose of monetizing our content. We need to be able to have a strong domestic market.”