Investment One Financial Services has been appointed consultants to the Innovative Distribution Fund, IDF-Project ACT Nollywood to be provided by the World Bank.
The appointment was made by the Federal Ministry of Industry, Trade and Investment.
Mrs. Aderayo Bankole of Communications Department in Investment One Financial Services, disclosed this in a statement, on Thursday in Lagos.
The statement said that the appointment was made after a competitive selection system.
NAN reports that Project ACT-Nollywood is an initiative by the Federal Government of Nigeria being led by the Ministry of Finance in collaboration with the Ministry of Culture and Tourism.
The objective of the project is to encourage sustained growth of Nigeria’s movie industry to realise its potential as a significant creator of employment.
“ACT Nollywood aims to alleviate obstacles to the sector’s growth and promote key components along the movie value chain through the provision of grant funding to support existing or aspiring practitioners within the industry,’’ it said.
The statement said that the project comprised of three funds – the capacity building fund, film production fund and innovative distribution funds.
It said that the company would coordinate the activities of all other parties to the fund.
These will include due diligence, structuring, disbursement and post-disbursement monitoring of the fund.
The statement said that company would also ensure that funds were channelled to companies and projects that would most appropriately address the distribution challenges faced by the film industry.
It said that the company was selected from a list of 40 technical proposals submitted in consideration for the contract.
The statement said that the appointment would be for 12 months.


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