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Saudi Arabia Allocates SAR 300 Million for Investments in Film Industry

The film sector in Saudi Arabia is witnessing an unprecedented stage of support and development. (The Cultural Development Fund)
The film sector in Saudi Arabia is witnessing an unprecedented stage of support and development. (The Cultural Development Fund)
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Saudi Arabia Allocates SAR 300 Million for Investments in Film Industry

The film sector in Saudi Arabia is witnessing an unprecedented stage of support and development. (The Cultural Development Fund)
The film sector in Saudi Arabia is witnessing an unprecedented stage of support and development. (The Cultural Development Fund)

The Saudi Cultural Development Fund (CDF) revealed a new investment program in the film sector at a value of 300 million Saudi riyals (about $80 million), and the launch of a global partnership with international institutions.

The Cultural Fund launched its new investment program on the sidelines of the Cannes Film Festival, which is being held in France, with the participation of various Saudi entities.

The CDF announced partnerships with MEFIC Capital and holding company ROAA Media Ventures to establish the Film Investment Fund, budgeted at $100 million.

The CDF will contribute 40% of the amount, through an investment program launched during the Cannes Festival, as part of the IGNITE government digital content program’s film sector financing initiative.

In this context, Mohammed bin Dayel, CEO of the CDF, said the new fund aims to invest in film sector companies and projects, and provide the necessary financing, build a network of entrepreneurs and distribution experts to support companies.

He added that the fund also seeks to collaborate with local and international investors and attract foreign expertise to turn the Kingdom into a major film-making center.

Bin Dayel stressed that the Saudi film industry was one of the fastest growing cultural sectors in the Kingdom, in light of the growing demand for cinematic content, which necessitates supporting visual content makers and companies.

The CDF plans through the investment track to achieve self-sustainability, and to build an effective and supportive film sector by 2030.

According to bin Dayel, the budget allocated to the Film Sector Financing Initiative is the highest among all artistic and cultural initiatives in Saudi Arabia.

He noted that the initiative is expected to contribute to developing creative talents and attracting foreign expertise, making the Kingdom a major center for the film industry in the region and the world.

In March, the Cultural Fund launched the lending program within the Film Sector Financing Initiative, which it designed to provide financing packages for small and medium-sized companies, as well as film production, distribution and infrastructure projects, as part of its efforts to support investment, enhance the profitability of the sector, and empower creators.

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10 Endangered Black Rhinos Sent from S.Africa to Mozambique

Kenya Wildlife Services veterinarians and rangers rush to aid a sedated female black Rhinoceros that has been selected for translocation to the Segera Rhino Sanctuary from the Lake Nakuru National Park on June 07, 2025. (Photo by Tony KARUMBA / AFP)
Kenya Wildlife Services veterinarians and rangers rush to aid a sedated female black Rhinoceros that has been selected for translocation to the Segera Rhino Sanctuary from the Lake Nakuru National Park on June 07, 2025. (Photo by Tony KARUMBA / AFP)
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10 Endangered Black Rhinos Sent from S.Africa to Mozambique

Kenya Wildlife Services veterinarians and rangers rush to aid a sedated female black Rhinoceros that has been selected for translocation to the Segera Rhino Sanctuary from the Lake Nakuru National Park on June 07, 2025. (Photo by Tony KARUMBA / AFP)
Kenya Wildlife Services veterinarians and rangers rush to aid a sedated female black Rhinoceros that has been selected for translocation to the Segera Rhino Sanctuary from the Lake Nakuru National Park on June 07, 2025. (Photo by Tony KARUMBA / AFP)

Ten black rhinos have been moved from South Africa to Mozambique to secure breeding of the critically endangered animals that became locally extinct 50 years ago, conservationists said Thursday.

The five male and five female rhinos were transferred to Mozambique's Zinave National Park in a 48-hour road trip last week, said the Peace Parks Foundation, which took part in the translocation.

"It was necessary to introduce these 10 to make the population viable," communication coordinator Lesa van Rooyen told AFP.

The new arrivals will "secure the first founder population of black rhinos since becoming locally extinct five decades ago,” South Africa's environment ministry, which was also involved, said in a statement.

Twelve black rhinos had previously been sent from South Africa to Zinave in central Mozambique but the population was still not viable for breeding, Van Rooyen said.

Twenty-five white rhinos, which are classified as less threatened, were also translocated in various operations.

The global black rhino population dropped by 96 percent between 1970 and 1993, reaching a low of only 2,300 surviving in the wild, according to the International Rhino Foundation.

Decades of conservation efforts allowed the species to slowly recover and the population is estimated at 6,421 today.

Once abundant across sub-Saharan Africa, rhino numbers fell dramatically due to hunting by European colonizers and large-scale poaching, with their horns highly sought after on black markets particularly in Asia.

Mozambique's population of the large animals was depleted during the 15-year civil war, which ended in 1992 and pushed many people to desperate measures to "survive in very difficult circumstances", van Rooyen said.

Years of rewilding efforts have established Zinave as Mozambique’s only national park home to the "Big Five" game animals -- elephant, rhino, lion, leopard and buffalo.