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In its latest initiative, the Sony Innovation Fund: Africa, aims to support the growth of the entertainment businesses in Africa. It will invest in seed to early-stage startups in the entertainment industry in Africa, including startups in the gaming, music, movie and content distribution sectors. Sony is initially allocating US$10 million towards such investments. In addition, Sony has concluded a collaboration agreement with the International Finance Corporation (IFC), the largest global development institution focused on the private sector which is actively investing in emerging countries, including startup companies in Africa. In addition to financial investment, this collaboration will support the growth of the entertainment industry in Africa by leveraging the strengths of both parties.