The African Export-Import Bank (Afreximbank) has committed two billion dollars to support Africa’s creative and cultural industries, as it seeks to transform the continent’s cultural influence into sustainable businesses, exports and investment opportunities.
The commitment was highlighted at the 2026 Creative Africa Nexus (CANEX) Weekend in Lagos, which brought together investors, policymakers, financial institutions and creative industry leaders from Africa and the diaspora.
The four-day event, holding from November 5 to 8, focuses on financing challenges, intellectual property ownership, technology, skills development and access to international markets.
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Afreximbank’s financing commitment to the creative and cultural industries has increased from an initial 500 million dollars to two billion dollars, reflecting the bank’s focus on the commercial potential of sectors such as film, music, fashion, publishing, sports, gastronomy and visual arts.
The funding is expected to support businesses in areas including production, distribution, infrastructure development and international expansion.
However, access to the financing, protection of intellectual property and the development of sustainable business models remain important factors in translating the commitment into measurable economic gains.
Afreximbank said the initiative was designed to help African creators build scalable enterprises, strengthen ownership of intellectual property and retain a greater share of the economic value generated by African culture.
The commercial focus of the event is being advanced through the CANEX Deal Room and Creative Pitch Sessions, which are expected to connect creative entrepreneurs with financiers and investors.
The Creative Economy Finance Summit, organised by Afreximbank in partnership with Co-Creation Hub’s Creative Economy Practice, is also bringing financial institutions and investors together to examine ways of structuring, financing and reducing risks associated with investments in the sector.
The discussions are expected to address financing gaps and the challenges facing creative businesses seeking to compete in international markets.
Beyond financing, CANEX WKND is examining ways African businesses can commercialise their intellectual property and benefit from growing global demand for African cultural products.
A high-level discussion titled, “One Market, One Culture: Building the Creative Economy of Global Africa”, is focusing on how the international popularity of African culture can translate into stronger businesses, exports and investment.
Technology is another major focus, with sessions examining artificial intelligence, authorship, intellectual property and the changing economics of creative production.
The CANEX CreaThon, organised in partnership with pan-African technology company Gebeya, is bringing together creators, developers and innovators to develop projects in music, video and gaming.
The initiative features digital tools, mentorship and a 50,000-dollar prize pool.
The programme also covers fashion, film distribution, publishing and sports, with discussions on African brands, textile value chains, content financing, athlete commercialisation and access to international markets.
For Nigeria, hosting the gathering provides an opportunity to strengthen its position in Africa’s creative and cultural industries while attracting investment and business partnerships.
The event is hosted by the Nigerian Government and organised by Afreximbank through its Creative Africa Nexus programme under the theme, “One People, United in Culture, Creating for the World”.
Its opening ceremony brought together government officials and industry stakeholders from 11 African countries.
Participants include Nobel laureate Wole Soyinka, actors Uzo Aduba and Funke Akindele, former footballers Didier Drogba and Jay-Jay Okocha, as well as musicians Davido, Fally Ipupa and Flavour.
While the event features performances, exhibitions and cultural activities alongside business discussions, its economic impact will depend on the extent to which the engagements generate investment, stronger creative enterprises and increased exports.
For Africa’s creative economy, the priority is to build the financial and commercial structures needed to convert global cultural recognition into sustainable economic value.
