Afreximbank Pledges $2bn to Boost Africa’s Creative Economy
- CANEX 2026 saw record attendance with 17,000 registered participants.
The four-day event, which runs from November 5 to 8, aims to transform cultural influence into sustainable business and investment opportunities.
Afreximbank increased its financial commitment to the sector from an initial $500 million to $2 billion.
The Nigerian government hosts the event, which is organized by Afreximbank under the theme "One People, United in Culture, Creating for the World". This investment aims to turn cultural influence into sustainable business and investment opportunities.
Nigeria commits $600m to creative and digital businesses
Dr. Jumoke Oduwole is the Minister of Industry, Trade and Investment.
The government aims to boost private investment and economic contribution through this initiative.
Vice-President Shettima calls for commercializing African culture
Vice-President Kashim Shettima said the government aims to turn cultural influence into enduring wealth.
Shettima cited the Mavin record label deal as a successful example of investment within the Nigerian creative economy. The federal government is working to strengthen intellectual property protections and increase access to finance for creative businesses.
Shettima urged creators to secure signed term sheets, distribution deals, and buyer agreements rather than leaving with only memories. He also called on African governments to reduce trade barriers that hinder creative businesses from distributing products and receiving payments across the continent.
CANEX 2026 draws 17,000 attendees and global industry leaders
The 2026 CANEX event reached 17,000 registered participants, an increase from the 6,000 people who attended the previous edition. Organizers stopped registration due to high demand.
Notable participants included Wole Soyinka, Uzo Aduba, Funke Akindele, Didier Drogba, Jay-Jay Okocha, Davido, Fally Ipupa, and Flavour.
The event featured a discussion titled "One Market, One Culture: Building the Creative Economy of Global Africa". This session addressed how to translate the international popularity of African culture into stronger businesses and exports.
Summit and CreaThon provide tools for creative financing
Afreximbank and the Co-Creation Hub’s Creative Economy Practice organized the Creative Economy Finance Summit to discuss structuring and financing risks. The CANEX CreaThon, held in partnership with the technology company Gebeya, provides digital tools and mentorship to creators in music, video, and gaming. The competition offers a $50,000 prize pool for participants.
The document provides investors with information on deployment opportunities in the industry.
Nigeria prepares for 2027 Intra-African Trade Fair
The country will host the fifth iteration of the fair in Lagos.
The event coincides with the 50th anniversary of FESTAC ’77. The current CANEX exhibition is the foundation for the upcoming trade fair.
Government policies target intellectual property and digital trade
The administration of President Bola Tinubu is working to transform Nigeria’s creative influence into a commercially viable industry that attracts domestic and international capital.
Afreximbank background and multi-stakeholder collaboration
The African Export-Import Bank is a privately held financial services institution founded in 1993 with headquarters in Cairo, Egypt.
This investment led to the later acquisition of the company by Universal Music Group.
- Afreximbank Commits $2bn to Africa’s Creative Economy (von.gov.ng)
- FG unlocks $600m to finance creative, digital enterprises - Punch Newspapers (punchng.com)
- Afreximbank (tavily.com)
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