Washington D.C., February 16, 2024 – In order to support the growth of Africa's creative sector and to bring local African stories to the world, IFC has signed a collaboration agreement with Triggerfish, a globally recognized animation studio founded in South Africa. Triggerfish creates premium animated content for prominent global studios such as BBC, eOne, Lucasfilm, Magic Light Pictures, Netflix, and The Walt Disney Company.
The collaboration agreement will bring IFC's market expertise to help Triggerfish with its growth strategy so that it can expand its operations, creating new jobs and opportunities in Africa to upskill local talent, particularly for women and youth.
"We are thrilled to be working with Triggerfish to set the stage for a new chapter of growth," said Makhtar Diop, IFC Managing Director. "This partnership underscores IFC's commitment to unlock the potential of creative industries and support economic development and job creation in Africa, particularly for women and youth."
Triggerfish CEO Stuart Forrest said: "At a time when the demand for local African content is booming, this partnership with IFC is a significant step that will propel the growth of the local animation sector and position the industry to reach its true potential."
The global animation and VFX market was valued at US$ 167.9 billion in 2021 and is expected to reach US$ 401.0 billion by 2030, according to a study by Report Ocean. The sector in Africa faces problems realizing its potential because of challenges accessing funding, a lack of cutting-edge technology, and limited distribution networks.
The partnership with Triggerfish is another important milestone in IFC's commitment to support the creative industries sector in emerging markets. IFC recently signed an agreement with Sony Group Corporation to identify investment opportunities in companies in the creative industries in Africa to support new economic opportunities and create jobs. In June, IFC committed up to $75 million to DNEG, a world-leading visual effects and animation company in India to expand its cutting-edge VFX and animation services.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
About Triggerfish
As the leading animation studio from Africa, Triggerfish is perfectly positioned to bring the work of a new, visionary generation of filmmakers to the world.
The studio's 2023 releases include Kizazi Moto: Generation Fire for Disney+; Kiya & The Kimoja Heroes for Hasbro/eOne, Disney Junior and Disney+; Supa Team 4 for Netflix; and the Lucasfilm short, Aau's Song, for Star Wars Visions: Season 2 on Disney+. Kizazi Moto: Generation Fire is up for Best Animated Series: Tweens/Teens at the 2024 Kidscreen Awards.
Established 27 years ago in Cape Town, South Africa, Triggerfish has produced three original feature films, while their work for Magic Light Pictures on five BBC Christmas specials earned an Oscar nomination, three BAFTAs and an International Emmy. The studio has also expanded their kids and family content with the publication of the graphic novel Pearl of the Sea to critical acclaim.
At the 2021 Annecy International Animation Festival, Triggerfish was awarded the Mifa Animation Industry Award for "the pioneering role that the company has played in animation in South Africa, and Africa most widely."
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