Afreximbank quadruples creative industries financing commitment to US$2 billion

The African Export-Import Bank (Afreximbank) has quadrupled its financing commitment to Africa’s creative and cultural industries to US$2 billion, up from its initial US$500 million pledge, as the bank seeks to expand investment and strengthen the commercial potential of the continent’s creative economy.

The commitment was announced as Creative Africa Nexus (CANEX) WKND 2026 opened in Lagos on November 5, bringing together investors, policymakers, creatives and business leaders from Africa and the diaspora.

According to a statement published on the bank’s website on Friday, the four-day event is hosted by the Federal Government of Nigeria and organised by Afreximbank through its Creative Africa Nexus programme.

The 2026 edition runs from November 5 to 8 under the theme, “One People, United in Culture, Creating for the World.”

Afreximbank expands creative industries financing

Afreximbank initially committed US$500 million to Africa’s creative and cultural industries in 2020 before doubling the financing commitment to US$1 billion.

• The latest expansion raises the commitment to US$2 billion, reflecting the bank’s ambition to support the development of commercially viable creative businesses across the continent.
• The financing initiative is designed to help African creators and businesses scale their operations, strengthen ownership of intellectual property and retain a larger share of the economic value generated by African cultural products.

The programme will cover several segments of the creative economy, including film and television, music, fashion, sport, literature and publishing, gastronomy and visual arts.

Financing, investment and technology take centre stage

A major feature of CANEX WKND 2026 will be the Creative Economy Finance Summit, organised by Afreximbank in partnership with the Creative Economy Practice at Co-Creation Hub.

The summit will bring together financial institutions and investors to examine how creative-economy transactions can be structured, financed and de-risked.

• CANEX Creations Inc. will also lead discussions on unlocking investment in African intellectual property, while the CANEX Deal Room and Creative Pitch Sessions will connect creative entrepreneurs with potential financiers and investors.
• On November 6, a high-level conversation titled “One Market, One Culture: Building the Creative Economy of Global Africa” will examine how the international appeal of African culture can translate into stronger businesses, exports and investment.

The session will feature Nobel Laureate Professor Wole Soyinka, ministers responsible for culture and the arts from Côte d’Ivoire, South Africa and Rwanda, representatives of the International Finance Corporation and Afreximbank.

Technology will also feature prominently, with discussions examining artificial intelligence, authorship, intellectual property rights and the changing economics of creative production.

The CANEX CreaThon, organised with pan-African technology company Gebeya, will bring together creators, developers and innovators to develop projects in music, video and gaming. Participants will receive mentorship, computing resources and access to African-built digital tools, alongside a US$50,000 prize pool.

Film, sports and fashion feature in programme

Film and television sessions will examine the commercial infrastructure required to expand African content into international markets.

• These include “Stories Without Borders: Africa, Hollywood & the Global Diaspora”, featuring former Afreximbank President Professor Benedict Oramah, and “Made in Africa, Watched in Africa”, which will examine research on film distribution, audiences and financing across Egypt, Kenya, Nigeria, Rwanda, Senegal and South Africa.
• Sport will form another major part of the programme, with discussions covering athlete development, management and commercialisation.

Former professional footballers Didier Drogba and Jay-Jay Okocha are scheduled to participate in a session titled “When Giants Speak: The Business of the Game”. The programme will also feature a Legends Football Match at Onikan Stadium on November 8.

Fashion activities will include masterclasses on building profitable African brands, developing textile value chains, improving market access and protecting intellectual property, alongside the CANEX Fashion Show and Awards Night.

Soyinka, Drogba, Davido among expected participants

The opening ceremony is expected to feature addresses from ministers responsible for culture and creative industries across 11 African countries.

Other expected speakers include Afreximbank President and Chairman of the Board of Directors, Dr George Elombi; Nigeria’s Minister of Industry, Trade and Investment, Dr Olajumoke Oduwole; Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene; and Lagos State Governor, Babajide Sanwo-Olu.

The event will also attract prominent personalities from the creative industry, including Nobel Laureate Professor Wole Soyinka, Emmy Award-winning actor Uzo Aduba, filmmaker and actor Funke Akindele, and actors Richard Mofe-Damijo and Thuso Mbedu.

Afreximbank reports US$813.5 million nine-month net income

The expanded financing commitment comes as Afreximbank continues to report growth in its financial performance.

The bank recorded net income of US$813.5 million for the nine months ended September 30, 2026, representing a 24% increase compared with the corresponding period, supported by stronger net interest income.

Nairametrics had earlier reported that Afreximbank’s nine-month 2026 profit increased by 24% as net interest income strengthened.