Afreximbank’s $2bn Fund Targets Africa’s Creative Economy

By Diden Abigail Owuntarose

The African Export-Import Bank (Afreximbank) has committed $2bn to financing Africa’s creative and cultural industries, as the bank seeks to transform the continent’s creative talent into sustainable businesses, exports and employment opportunities.

The financing initiative is being showcased at the Creative Africa Nexus Weekend (CANEX WKND) 2026, which opened in Lagos on Thursday and runs until November 8.

The four-day event, organised by Afreximbank in partnership with the Federal Government, is bringing together creatives, investors, financiers, policymakers and industry leaders from across Africa and the diaspora to explore investment and commercial opportunities.

Afreximbank said the $2bn commitment, covering the 2024–2027 period, was designed to strengthen creative businesses, improve access to finance and markets, and enable African entrepreneurs to retain greater economic value from their work.

The initiative covers several sectors, including film and television, music, fashion, literature, publishing, visual arts, gastronomy and sports.

According to the bank, the funding is intended to support infrastructure development, enterprise expansion, skills development and access to international markets.

A key component of the programme is the CANEX Deal Room, which connects creative entrepreneurs with potential investors and financiers to facilitate business partnerships and commercially viable projects.

The event also features creative competitions, exhibitions, fashion showcases, music programmes and investment discussions aimed at strengthening the continent’s creative ecosystem.

Afreximbank said the initiative builds on its growing involvement in Africa’s creative industries, following increased demand for financing across sectors such as film production, music, fashion manufacturing and sports.

The bank initially committed $500m to the creative sector when CANEX was launched in 2020, before increasing the funding to $1bn in 2022 and subsequently announcing a further expansion to $2bn in 2024.

At the 2024 CANEX WKND in Algeria, more than $540m in deals were reportedly facilitated and agreed, demonstrating the potential for commercial partnerships within the sector.

Nigeria’s Minister of Industry, Trade and Investment, Jumoke Oduwole, said hosting the event in Lagos reinforces the country’s position as a leading creative and commercial centre in Africa.

She noted that the creative industries represent an important source of enterprise, employment and export earnings, adding that stronger connections between talent, investment and markets would help unlock their economic potential.

The Lagos event is also expected to strengthen preparations for the Intra-African Trade Fair 2027, which Nigeria will host in November next year.

Afreximbank said the broader objective of its creative economy programme was to support the development of competitive African businesses capable of expanding across regional and international markets.

The bank believes improved access to financing, infrastructure and commercial partnerships could help transform Africa’s cultural influence into a stronger economic contributor.