Afreximbank Aims for $1 Billion in Deals at 2026 Creative Africa Nexus to Boost Continent’s Creative Economy

Afreximbank is targeting up to $1 billion in business deals from the 2026 Creative Africa Nexus (CANEX WKND) scheduled to take place in Lagos. This target builds on approximately $540 million in deals recorded at the 2024 edition of the event, reflecting growing momentum in Africa’s creative economy.

Kanayo Awani, Executive Vice President for Intra-African Trade Fair and Export Development at Afreximbank, highlighted the bank’s commitment of around $2 billion in financing dedicated to Africa’s creative and cultural industries. This commitment spans seven key sectors: film, music, fashion and design, arts and crafts, sports, literature, and gastronomy.

Awani emphasized that Afreximbank’s support extends beyond traditional lending. The bank provides equity financing, capacity building, intellectual property protection, and platforms that connect African creatives with international buyers and investors. These interventions aim to address multiple challenges faced by the sector.

Limited access to finance is only one hurdle. Awani pointed out that inadequate skills, poor market access, and weak intellectual property protections also prevent creative businesses from reaching their full commercial potential. To bridge this gap, Afreximbank is working to prepare creative practitioners to attract investors and meet international market standards.

As part of these efforts, the bank has supported about 200 fashion designers from Africa and the Caribbean, facilitating their exposure to global markets in cities such as Paris, New York, London, and Istanbul. Some beneficiaries have successfully secured buyers in established retail outlets, including Galeries Lafayette in Paris.

Natalie Koussi Akon, IFC Division Director for West Africa and the Gulf of Guinea, noted a shift in attitudes among financial institutions, parents, and creatives themselves, which is fostering increased investment opportunities in the sector. The International Finance Corporation has invested $1.6 billion in the creative industry over the past five years, underscoring its growing commercial recognition.

Akon stressed that financial institutions must adapt their traditional assessment models for creative businesses. Unlike conventional enterprises, creative ventures often rely on intellectual property that generates ongoing revenue long after the original work is produced. She called for the development of financing instruments tailored to the creative sector, alongside efforts to enhance business visibility, capacity, and market connections.

Infrastructure deficits, logistical challenges, and regulatory barriers also impede the movement of creative products across African countries, Akon added.

Ben Murray-Bruce, founder of Silverbird Group, advocated for legislative measures to improve financing access. He proposed a law mandating financial institutions to allocate 2.5 percent of their lending portfolios to the creative industry. Murray-Bruce also urged recognition of intellectual property as collateral for loans, enabling creators to leverage the commercial value of their work rather than relying solely on conventional security.

He encouraged creative practitioners to pursue political roles to influence laws and policies that enhance infrastructure, strengthen copyright enforcement, and support industry growth.

Murray-Bruce identified piracy and weak enforcement of intellectual property rights as significant obstacles preventing African creators from fully benefiting financially from their work. Addressing these issues, he argued, is critical to unlocking the sector’s potential.

The 2026 CANEX WKND in Lagos represents a pivotal opportunity for stakeholders to advance financing, investment partnerships, and policy reforms aimed at unlocking Africa’s creative economy and fostering sustainable growth across its diverse cultural industries.