Netflix to Invest In South Africa’s Film and TV Industry.

 

The South African movie industry is gaining the attention of Netflix as the Global streaming giant looks to boost subscriber numbers on the continent.

The company will invest 929 million rand ($63 million) into the industry by 2023, with the funds covering one international production and three local shows, it was announced at the South Africa Investment Conference in Johannesburg on Thursday.

“South Africa is fast becoming a top global location for Netflix productions, with the country viewed as the go-to location with a robust and talented film industry,” Shola Sanni, Netflix’s director of public policy for Sub-Saharan Africa, said.

The investment conference is an annual event initiated by President Cyril Ramaphosa in 2018 that seeks to secure domestic and inbound investment of 1.2 trillion rand over five years.

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