Latest news with #Abudu
Bloomberg
04-05-2025
- Business
- Bloomberg
Nigeria's Nollywood Producer Plans to Showcase Africa to the World
Nollywood producer Mo Abudu, Ebonylife Group CEO, plans to significantly expand her company's reach to Europe, building a presence in London to showcase Nigeria's film-making industry outside Africa. She believes the sector will continue its upward trajectory and will provide a strong basis for investments and creativity. Abudu speaks to Bloomberg's Jennifer Zabasajja on the latest episode of Bloomberg Next Africa. (Source: Bloomberg)
CNN
02-05-2025
- Entertainment
- CNN
‘Be bold and do it anyway': Mo Abudu on her vision for African cinema
Mo Abudu has a vision for Africa's creative economy, and the next stage will start in an old lecture hall in South London. The Nigerian media mogul plans to turn the building into a hub for Nigerian food, culture and cinema. Abudu has built a media empire across Africa, with a mission to give the continent a platform on the global stage. 'For me it was just about ensuring that we have a voice,' she told CNN's Larry Madowo. Abudu first found fame in 2006 as the host of the Nigerian talk show 'Moments with Mo,' before starting pan-African network EbonyLife TV in 2013, and EbonyLife Films in 2014. In 2019, she launched EbonyLife Place in Lagos, Nigeria, the twin of her new cultural hub, EbonyLife Place London. Setting up in London was an obvious step for Abudu, who was born there and moved to Nigeria when she was seven to live with her grandmother. Her father died when she was 11, and she returned to the UK, moving back to Nigeria when she was 30. Abudu had a successful career in HR, but, as she entered her fifth decade, she realized she wanted something different. 'I woke up at age 40 and I said, 'I'm done,'' recalled Abudu. Her friends thought she was having a midlife crisis, but Abudu says that she had just been too scared to switch careers earlier. The fear is still with her now with her London venture, she says, but her attitude has changed. 'You may be scared and afraid of doing it, but you're going to have to just be bold and do it anyway.' Now, Abudu sees opportunity for Nigerian films in the UK – but only if they are given the right opportunities. 'Our films are traveling across the continent but they're not really traveling to the UK for theatrical releases simply because we don't have the cinemas here that are ready to take those films on,' Abudu said. She is intent on making African cinema a business that can deliver returns, and says capacity building is central to that vision. Abudu developed the $50 million Afro Film Fund alongside actor Idris Elba. It will open at the end of 2025 and Abudu believes it can fill some of the gaps in the African creative economy, part of her vision of 'completing the value chain' of African cinema. 'We're training, you're getting funding, your film is getting distributed, you're monetizing,' she said. Monetization is the ultimate aim in Abudu's development of the media ecosystem. 'If we don't build it, we can't scale the industry,' she said. 'If we can't scale the industry, we can't monetize.' Abudu turned 60 last year and, by all measures, seems to be only speeding up. By the end of this year EbonyLife Place London, the streaming platform EbonyLife ON, and the Afro Film Fund will all have launched. She was named as one of TIME's 100 most influential people this year. Related video Why the COO of one of the world's foremost AI companies spent 50 hours interviewing for her job Elba, who worked with Abudu worked on the short film 'Dust to Dreams' and is currently developing a feature film with her, penned her biography for TIME, writing: 'She wastes no time. She has an infectious, can-do attitude and the tenacity to overcome any obstacle in her way.' Despite her focus on the business of media, Abudu believes deeply in the need for more African representation in films and television outside of the continent. 'It is time for us to wake up and realize that we need to push out,' she said. 'We have to tell our own stories,' she added. 'We have that responsibility to tell them and, as we tell them, they must travel.'
CNN
02-05-2025
- Entertainment
- CNN
‘Be bold and do it anyway': Mo Abudu on her vision for African cinema
Mo Abudu has a vision for Africa's creative economy, and the next stage will start in an old lecture hall in South London. The Nigerian media mogul plans to turn the building into a hub for Nigerian food, culture and cinema. Abudu has built a media empire across Africa, with a mission to give the continent a platform on the global stage. 'For me it was just about ensuring that we have a voice,' she told CNN's Larry Madowo. Abudu first found fame in 2006 as the host of the Nigerian talk show 'Moments with Mo,' before starting pan-African network EbonyLife TV in 2013, and EbonyLife Films in 2014. In 2019, she launched EbonyLife Place in Lagos, Nigeria, the twin of her new cultural hub, EbonyLife Place London. Setting up in London was an obvious step for Abudu, who was born there and moved to Nigeria when she was seven to live with her grandmother. Her father died when she was 11, and she returned to the UK, moving back to Nigeria when she was 30. Abudu had a successful career in HR, but, as she entered her fifth decade, she realized she wanted something different. 'I woke up at age 40 and I said, 'I'm done,'' recalled Abudu. Her friends thought she was having a midlife crisis, but Abudu says that she had just been too scared to switch careers earlier. The fear is still with her now with her London venture, she says, but her attitude has changed. 'You may be scared and afraid of doing it, but you're going to have to just be bold and do it anyway.' Now, Abudu sees opportunity for Nigerian films in the UK – but only if they are given the right opportunities. 'Our films are traveling across the continent but they're not really traveling to the UK for theatrical releases simply because we don't have the cinemas here that are ready to take those films on,' Abudu said. She is intent on making African cinema a business that can deliver returns, and says capacity building is central to that vision. Abudu developed the $50 million Afro Film Fund alongside actor Idris Elba. It will open at the end of 2025 and Abudu believes it can fill some of the gaps in the African creative economy, part of her vision of 'completing the value chain' of African cinema. 'We're training, you're getting funding, your film is getting distributed, you're monetizing,' she said. Monetization is the ultimate aim in Abudu's development of the media ecosystem. 'If we don't build it, we can't scale the industry,' she said. 'If we can't scale the industry, we can't monetize.' Abudu turned 60 last year and, by all measures, seems to be only speeding up. By the end of this year EbonyLife Place London, the streaming platform EbonyLife ON, and the Afro Film Fund will all have launched. She was named as one of TIME's 100 most influential people this year. Related video Why the COO of one of the world's foremost AI companies spent 50 hours interviewing for her job Elba, who worked with Abudu worked on the short film 'Dust to Dreams' and is currently developing a feature film with her, penned her biography for TIME, writing: 'She wastes no time. She has an infectious, can-do attitude and the tenacity to overcome any obstacle in her way.' Despite her focus on the business of media, Abudu believes deeply in the need for more African representation in films and television outside of the continent. 'It is time for us to wake up and realize that we need to push out,' she said. 'We have to tell our own stories,' she added. 'We have that responsibility to tell them and, as we tell them, they must travel.'
CNN
02-05-2025
- Entertainment
- CNN
‘Be bold and do it anyway': Mo Abudu on her vision for African cinema
Mo Abudu has a vision for Africa's creative economy, and the next stage will start in an old lecture hall in South London. The Nigerian media mogul plans to turn the building into a hub for Nigerian food, culture and cinema. Abudu has built a media empire across Africa, with a mission to give the continent a platform on the global stage. 'For me it was just about ensuring that we have a voice,' she told CNN's Larry Madowo. Abudu first found fame in 2006 as the host of the Nigerian talk show 'Moments with Mo,' before starting pan-African network EbonyLife TV in 2013, and EbonyLife Films in 2014. In 2019, she launched EbonyLife Place in Lagos, Nigeria, the twin of her new cultural hub, EbonyLife Place London. Setting up in London was an obvious step for Abudu, who was born there and moved to Nigeria when she was seven to live with her grandmother. Her father died when she was 11, and she returned to the UK, moving back to Nigeria when she was 30. Abudu had a successful career in HR, but, as she entered her fifth decade, she realized she wanted something different. 'I woke up at age 40 and I said, 'I'm done,'' recalled Abudu. Her friends thought she was having a midlife crisis, but Abudu says that she had just been too scared to switch careers earlier. The fear is still with her now with her London venture, she says, but her attitude has changed. 'You may be scared and afraid of doing it, but you're going to have to just be bold and do it anyway.' Now, Abudu sees opportunity for Nigerian films in the UK – but only if they are given the right opportunities. 'Our films are traveling across the continent but they're not really traveling to the UK for theatrical releases simply because we don't have the cinemas here that are ready to take those films on,' Abudu said. She is intent on making African cinema a business that can deliver returns, and says capacity building is central to that vision. Abudu developed the $50 million Afro Film Fund alongside actor Idris Elba. It will open at the end of 2025 and Abudu believes it can fill some of the gaps in the African creative economy, part of her vision of 'completing the value chain' of African cinema. 'We're training, you're getting funding, your film is getting distributed, you're monetizing,' she said. Monetization is the ultimate aim in Abudu's development of the media ecosystem. 'If we don't build it, we can't scale the industry,' she said. 'If we can't scale the industry, we can't monetize.' Abudu turned 60 last year and, by all measures, seems to be only speeding up. By the end of this year EbonyLife Place London, the streaming platform EbonyLife ON, and the Afro Film Fund will all have launched. She was named as one of TIME's 100 most influential people this year. Related video Why the COO of one of the world's foremost AI companies spent 50 hours interviewing for her job Elba, who worked with Abudu worked on the short film 'Dust to Dreams' and is currently developing a feature film with her, penned her biography for TIME, writing: 'She wastes no time. She has an infectious, can-do attitude and the tenacity to overcome any obstacle in her way.' Despite her focus on the business of media, Abudu believes deeply in the need for more African representation in films and television outside of the continent. 'It is time for us to wake up and realize that we need to push out,' she said. 'We have to tell our own stories,' she added. 'We have that responsibility to tell them and, as we tell them, they must travel.'
Zawya
03-03-2025
- Business
- Zawya
Nigeria's new ATM fees: Customers groan as banks begin implementation
Banks have commenced implementation of the new Automated Teller Machine (ATM) transaction fee charge on customers following the Central Bank of Nigeria (CBN's) directive. The News Agency of Nigeria (NAN) correspondent who monitored some banks' ATM gallery in Abuja and environs on Sunday, reports that some customers were lamenting about the increase. NAN reports that all the banks' ATM visited had monies loaded in them. Mr Luke Abudu, a customer seen at First Bank along Nyanya-Jikwoyi road, said the implementation would only affect the poor masses who were struggling to make a living. Abudu said the move would discourage customers from lodging monies in the banks. 'I came to withdraw N20,000 but I found out that I was charged N100 for the withdrawal. This is too much for a small business owner like me,' he said. Another customer, Mrs Victoria Adejo, seen at Zenith Bank, Mararaba branch said that withdrawal from Point of Sale (PoS) agent was now cheaper than using an ATM. 'It is unfortunate that our government formulates policies without feeling the pulse of the people. 'I read that the CBN said the decision is in response to rising cost and to improve efficiency of ATM services but banks still bill us for service charge,' she said. Mr Nurudeen Ehimotor, a customer at Guaranty Trust Bank (GTB), Asokoro, said he was at the bank to use the ATM due to the bank's poor online network. 'I came to use ATM because I tried to transfer money from my bank using USSD since yesterday but it didn't go through. 'I have an issue with my app, so I have been using USSD codes for my transfer. I think they (the banks) are trying to make people use ATM now for them to make more money,' he said. Ehimotor appealed to banks to reduce incessant charges on customers' accounts. NAN reports that the CBN had on February 10, released a circular to all banks and other financial institutions to apply the fees with effect from March 1. CBN in the circular entitled: 'Review of ATM transaction fees,' said the move was in response to rising cost and the need to improve efficiency of ATM services in the banking industry. 'On-Us (customers withdrawing at the ATM of the customer's financial institution) in Nigeria, no charge. 'Not-on-Us (withdrawal from another institution's ATM) in Nigeria; On-site-ATMs: A charge of N100 per N20,000 withdrawal. 'Off-site ATMs: A charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal. 'The income which is an income of the ATM acquirer/deployer, shall be disclosed at point of withdrawal to the consumer,' it said. Banks had informed their customers through various electronic mails (e-mails) of the increase. GTB told its customers in addition to the ATM transaction fee, that the free monthly withdrawals usually enjoyed by them would no longer be applied. 'Please note that the three free monthly withdrawals at other banks' ATMs (for GTBank customers) and GTBank ATMs (for other bank customers) will no longer apply,' the bank said. SERAP has urged President Bola Tinubu to 'direct Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) to suspend the implementation of the increase in Automated Teller Machine (ATM) transaction fees, pending the hearing and determination of the lawsuit before the Federal High Court, Lagos challenging the legality of the increase.' SERAP also urged him to 'seek legal advice from the Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi, on whether the CBN has the legal responsibilities to uphold the rule of law its operations by suspending the ATM fee hike, pending the determination of lawsuit on the matter.' SERAP had last month filed a lawsuit against the CBN 'over the failure to reverse the 'patently unlawful, unfair, and unjust increase in ATM transaction fees.' The lawsuit followed the announcement by the CBN that ATM withdrawals made at a machine owned by a bank but outside its branch premises will now attract a charge of N100 per N20,000 withdrawn. ATM withdrawals at shopping centres, airports or standalone cash points, will incur a N100 fee plus a surcharge of up to N500. In the open letter dated March 1, 2025 and signed by SERAP deputy director, Kolawole Oluwadare, the organisation said: 'Directing the CBN to suspend the ATM fee hike would allow the Federal High Court to hear and determine the case on its merit.' The letter also read in part: 'It would also be entirely consistent with the letter and spirit of the Nigerian Constitution 1999 (as amended), your oath of office and oft-repeated promises to uphold the rule of law. 'Implementing the ATM fee hike while the lawsuit on the matter is pending before the Federal High Court would make a mockery of the judicial process and the rule of law. 'The CBN has the duty to maintain the status quo as of February 26, 2025 when the court processes were duly served on it and during the pendency of the lawsuit filed by SERAP on the ATM fee hike before the Federal High Court, Lagos.'
