Executive Vice President in charge of Intra-African Trade and Export Development Bank at African Export-Import Bank (Afreximbank), Mrs Kanayo Awani, at the sidelines of the World Bank/International Monetary Fund meetings in Bangkok, Thailand, spoke with the Nigerian Tribune. She argued that Nigeria and Africa must shift from rhetoric about abundant creative talent to building the structures that monetise and commercialise it. Using the Creative Africa Nexus (CANEX) as an example, Awani called for deliberate investment, stronger intellectual property protection and market linkages to convert talent into sustainable businesses. CHIMA NWOKOJI brings excerpts:
LAGOS will host the next edition of the Intra-African Trade Fair in 2027, with CANEX as its precursor in November 2026. What motivated the choice of Lagos?
It was not a unilateral choice. As with most continental initiatives, we work in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat and the African Union Commission. Hosting rights are opened to the continent through a competitive bidding process. Nigeria submitted a strong bid through the Ministry of Trade and Investments and won.
Previous editions followed the same process: Egypt first, then Durban. When a country wins the right to host the Intra-African Trade Fair, it hosts the Creative Africa Nexus (CANEX) Weekend the year before as a precursor. This edition carries particular symbolic weight because it also serves as a prelude to the 50th anniversary of FESTAC ’77. The creative programme will take place from 5 to 8 November 2026 in Lagos.
What is CANEX designed to achieve?
Our long-standing mantra has been “transforming Africa.” There is constant discussion about Africa’s youthful population and its abundance of talent. The real task is to monetise and commercialise that talent so creators can build businesses, generate jobs for themselves and others, and contribute to broader development.
CANEX covers seven verticals: music, fashion, film, arts and crafts, sports, literature and gastronomy. Financing is important, but studies and experience show that finance alone is insufficient. Creators also need capacity-building — how to run a business, prepare plans and operate commercially. They need exposure to markets, buyers and investors. Finally, institutional issues, particularly intellectual property, must be addressed.
The programme therefore includes deal rooms covering equity, debt, finance and factoring; masterclasses led by industry practitioners across the verticals; B2B platforms that connect creators with buyers and investors (some of whom Afreximbank sponsors); and a conference of ministers of culture. The ministerial forum will tackle harmonisation of standards (for example in fashion), intellectual property registration and infringement, and ways to make these processes more affordable and accessible across the continent.
We do not wait for the annual event to create market access. In fashion, for instance, we regularly sponsor African designers to show in Paris, New York and Portugal. Some have already secured commercial placements, including retail distribution in the United States. Those designers will also participate in the masterclasses and showcases. Entertainment elements — music performances, theatre and a legends football match — will complement the business programme.
How has the response been so far, and how are concerns about Lagos logistics being addressed?
Response has been strong and continues to grow, particularly in recent weeks. We commend the Federal Government of Nigeria under the leadership of the Ministers of Trade and Culture, and the Lagos State Government for their active support.
On logistics and traffic, the relevant authorities are working on movement and congestion management. We have successfully staged complex events in Lagos before, including Formula E at the Lagoon, where participants noted the organisation compared favourably with previous places worldwide. Similar attention is being applied to CANEX.
What progress is being made on the broader challenges of intra-African trade, including production constraints, monetary zones and market access?
Intra-African trade remains low, but the creation of the AfCFTA and sustained political will have created momentum. To reduce vulnerability to external shocks — as seen during COVID-19 with medical supplies and during the Ukraine crisis with fertiliser and grains — Africa must trade more with itself. That requires industrialisation and expanded value chains. Selling raw commodities to one another is not enough.
Afreximbank is supporting this through several instruments. Working with Arise Integrated Industrial Platforms, we have five operating industrial parks and a further 13 in the pipeline across the continent, including one in Ogun State and support for a green industrial zone in Kaduna. These parks are designed so companies can plug and play, reducing the impact of infrastructure deficits.
We have also established the Pan-African Payment and Settlement System (PAPSS) to lower the cost of cross-border payments and enable trade in local currencies while helping formalise informal trade. A new subsidiary, the Africa Trade and Distribution Company, addresses logistics and last-mile delivery challenges and aggregates output from smaller producers.
In addition, Afreximbank and the AfCFTA Secretariat created an Adjustment Fund (comprising a base fund, general fund and credit fund) to help countries manage the orderly transition as tariffs are liberalised. These measures form part of a broader effort to deepen intra-African trade and investment.
Can you elaborate on payment facilitation in Africa?
The Africa Trade Gateway (ATG) is one portal that gives access to five digital platforms: the customer due diligence platform Mansa; the Pan-African Payment and Settlement System (PAPSS), which enables payment for intra-African trade in national currencies; the Tradar Club, a network for international businesses aimed at fostering growth in Africa; the e-commerce platform Africa Trade Exchange; and ATG Connect, which provides freight and logistics connectivity solutions.
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Launched in conjunction with the AfCFTA Secretariat, the ATG is designed to support and promote intra-African trade, including the implementation of the AfCFTA. Each of our digital interventions addresses clearly identified challenges and barriers for those seeking to engage in African trade and investment. The gateway is intended to quicken regional integration, extend and create new market access, and accelerate the digital economy in Africa. Customers will be able to complete all their transactions within the one window.
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