American-based subscription streaming service Netflix has committed R929 million to the South African filming industry. The company made its commitment at the fourth South Africa Investment Conference at the Sandton Convention Centre in Johannesburg.
The conference, which was inaugurated in 2018, is looking for R1.2 trillion in investment commitments for the next five years.
Shola Sanni is Netflix public policy director for Sub- Saharan Africa says, “So, we are very excited about that and we have just pledged R929 million to film and TV production in South Africa over 2022 and 2023. We are going to support four projects and these are projects; one of them is an international production and three of them are local and the job opportunities that are going to be created by this investment. There is training and skills transfer opportunities that are going to happen and the massive social economic contribution that will be delivered on the part of this pledge.”
Sanni says Netflix is also on the lookout for potential productions.
“Netflix is a place to go to, to watch films, TV series, documentaries, young famous and African reality. So, there is something for everyone on the Netflix service and it’s the same approach we take to production. We want to tell a good South Africa story wherever that story might be found.”
Earlier, President Cyril Ramaphosa assured local and foreign potential investors that their investments are secure and safe in South Africa.
He says there are many reasons to invest in the country.
Ramaphosa says, “Many companies represented by many of you here will come forward to make new investment commitments. They will do so because they see opportunity in this country. They see beyond the difficulties and challenges. They see reform and progress.”
“They see an open society that has enabled us to weather many storms. They see a strong and vibrant democracy, a diverse media and an active civil society. They see durable institutions, an independent judiciary and the rule of law. After a decade of state capture, they see a country that is confronting corruption and criminality,” he adds.
Some delegates are optimistic that the conference will produce positive results.
One delegate says, “We are here at the SA Investment Conference hoping to hear the president and the minister outline possible investment opportunities as young entrepreneurs in South Africa, especially female-owned and hear what are the possible guides that the president and minister have for us.”
Another says, “We are expecting to hear a lot more about youth development because of the high unemployment rate.”
“The company that I work for, we have invested over a billion rand in infrastructure. This is just to show the government that we are confident in growing the economy of this country.”
SAIC 2022 | In conversation with President Ramaphosa on the sidelines of the conference: