Asset Managers Eye Nollywood for Blockbuster Returns (3)

Earlier this month, colorfully dressed film stars and gray-suited asset managers gathered on the top floor of a Chinese car showroom in Lagos to discuss how to make money on movies.

Nollywood, as Nigeria’s freewheeling filmmaking industry is called, is a booming business. Hard figures are difficult to come by, but the country produces the second-highest number of movies in the world every year after India, and at least a million people are estimated to work directly or indirectly in the sector. Even widespread poverty and rising inflation haven’t dissuaded people from going to the movies, as ticket sales jumped 60% ...