Johannesburg based investment group, Talent10, announced the formation of a film company, Nthibah Pictures, with its first feature film currently in pre-production.
“The South African film industry has experienced incredible growth in the last decade, has earned a global reputation for quality projects and incredible local talent – actors, directors and producers and exceptional technical crews. It is a dynamic industry that we believe we can positively impact with our focused investment approach. We aim to make quality productions showcasing South African talent that can hopefully follow in the footsteps of the many award-winning projects developed and produced in SA,” says Talent10 CEO, Wayne Fitzjohn.
Nthibah Pictures is yet another significant investment for Talent10. This company joins, among a number of others, the internationally successful Internet of Things (IoT.nxt) technology company in the group. “We believe South Africa still continues to offer growth opportunities for investors, despite the many challenges we face. Talent10 are committed to find, invest and mentor dynamic companies we hope to help achieve global competitiveness,” Fitzjohn says.
“A study conducted last year by the National Film and Video Foundation (NFVF) showed that during the 2016/17 financial year, the film industry in South Africa made a R5.4 billion contribution to the GDP, compared to R3.5 billion in 2013. According to the study, the operations of the film industry in South Africa raised the level of production by approximately R12.2 billion,” he added.
Nthibah’s first feature film, a crime thriller, is currently in pre-production and will be directed by celebrated South African director Donovan Marsh. Marsh’s latest project, Hunter Killer, is set for release later this year and stars Gerard Butler and Gary Oldman.
Talent10 was co-founded in 2012 by partners Sipho Nkosi, former CEO of Exxaro, Wayne Fitzjohn and a small group of like-minded investors with the specific aim of investing in disruptive opportunities within South Africa.
The group is the funder and co-founder of IoT.nxt in late 2015 and is a significant shareholder in Exxaro. Their contribution is far greater than simply investment, as Talent10 follows an active management investment philosophy and contributes significantly in business strategy and financial management in their target companies, supporting management teams to achieve continuous growth.
Talent10’s investment in IoT.nxt has exceeded a R100m which has paved the way IoT.nxt’s expansion to Europe with an office set up in The Hague, The Netherlands and shortly the establishment of its US operations.