Singapore’s TSC Global, Del-York seal $4.5b deal for Lagos Film City

In a landmark moment for Africa’s creative and tech industries, Singapore’s TSC Global and Nigeria’s Del-York Group have signed a $4.5 billion joint venture agreement for the Lagos Film City, marking the largest investment in Africa’s creative sector to date.

The signing ceremony, held in Singapore and attended virtually by Lagos State Governor Babajide Sanwo-Olu, heralds the development of Lagos Film City (Kebulania), a project poised to position Lagos as a global hub for film, media, and technology.

Sanwo-Olu said: “Lagos Film City represents Lagos State’s vision for creative excellence and technological innovation. This investment will transform our creative landscape while creating groundbreaking opportunities for our talented youth. This development demonstrates our commitment to positioning Lagos as Africa’s premier creative capital.”

He credited President Bola Tinubu’s leadership and the state’s Creative Industry Policy for facilitating this transformative partnership.

Under the new partnership, TSC Global will bring its expertise in sustainable, high-performance technical infrastructure, an area where the company is known globally. Linus Idahosa, CEO of Del-York Group, serves as the lead developer of the project and is dedicated to building ecosystems that fuel Africa’s creative industry. A Memorandum of Understanding was signed with the Lagos State Government in 2022, and a groundbreaking ceremony was held at the Epe site last year. Architectural work will begin in early 2025, followed by construction in the second quarter.

On his part, Chairman/CEO of Del-York Group, Linus Idahosa, said: “Today marks Africa’s emphatic entry into global creative and technological leadership.”

“Kebulania stands as a testament to what is possible when visionary leadership at both national and state levels creates an enabling environment for transformative investments. With the unwavering support of the Lagos State Government, alongside our partners, we are building more than an infrastructure – we are creating a legacy that will empower generations of African creators and innovators.”

CEO of TSC Global, Michael Dickerson, highlighted the strategic significance. “Our $4.5 billion Joint Venture bridges Africa and the world, creating unparalleled opportunities for creative and technological collaboration between continents. Together with the Del-York Group, we are creating a new model for creative industry development that will resonate globally.”

The Kebulania project is expected to generate over 10,000 direct jobs and 25,000 indirect employment opportunities, contributing more than $3.5 billion annually to Nigeria’s creative economy. It will also offer 50,000 training positions and boost foreign exchange earnings through international film and media productions.