Moses Silinda, head of the IDC's Media and Motion Pictures Strategic Business Unit (SBU), says the corporation its Media and Motion Picture in 2001 to promote investment in media and related industries, including advertising, printing, publishing; radio and television programming and studios; as well as the production of feature films, documentaries and television series.
"One of the main reasons for setting up an SBU with a focus on film and television financing was because of the high multiplying effect the industry has on job creation, its ability to encourage local talent and its contribution to skills development.
"Also, from a financing point-of-view, there were no other significant role players at the time, which enabled us to help develop a local industry that's essential to telling the South African - and African - story as seen through the eyes of Africans themselves."
Major film projects the IDC is currently involved in include Stander, Red Dust, and Olive Schreiner's Story of an African Farm, an entirely South African project that was released in August last year.
"The Media Motion and Pictures SBU is also co-financing include Platinum, Out on a Limb and, more recently, Tsotsi and The Breed; while local documentaries funded include The Life and Story of Dr. Chris Barnard, The Trial of Nelson Mandela, and The Life and Times of Sophiatown."
Silinda says it is still too early to measure a financial return on the IDC's investments as most of the productions have not reached the full distribution cycle: "Most of these productions are only in the first year or two of distribution, although some of the bigger highlights such as Hotel Rwanda have exceeded our expectations and are selling very well.
"The South African film industry is currently growing at a very healthy rate, and in spite of the fact that it can take up to 48 months to show a return on investment, all indications are that the SBU is making sound financial and developmental investments."
