Premium Journalist
1 minute read
17 May 2015
8:18 pm

International investors show interest in SA film industry


Deputy Minister of TRADE and Industry, Mzwandile Masina said he was encouraged by the interest shown by international investors in South Africa as a film production destination and location.

Mzwandile Masina. Picture: Werner Beukes/SAPA

Masina met with international producers during the 68th Annual Cannes Film festival, where he is leading a delegation of twenty emerging filmmakers.

In a statement issued on Sunday, he said: “In all our meetings with investors we did not onlyMARKET South Africa as a destination and location of choice, but also stated the need for them to work with South African script writers and producers to develop a South African story that can be successful commercially and internationally.”

Masina said there was general consensus amongst the foreign investors that the incentive schemes offered by the Department ofTRADE and Industry, (the dti) were good on a comparative basis internationally and very well administered.

“From 2008-2013 the number of South African film productions have increased from 49 projects to 398 projects of which 256 were South African productions, 77 co-productions and 65 foreign productions. The productions led to an expenditure of R8 billion,” added Masina.

He further said since the launch of the South African EmergingBLACK Filmmakers Incentive scheme in September last year until the end of April 2015, the dti hadAPPROVED 15 projects with an incentive value of R42.7 million with production expenditure of R93.8 million.

As part of the dti strategy to promote South African emerging black filmmakers, the dti would further participate in the Toronto International Film Festival later this year.