The Creative Africa Nexus (CANEX) WKND 2026 conference kicked off in Lagos with a call to action for stronger financing, intellectual property protection, and market access to ensure Africa retains more of the economic value generated by its creative industries. Nigeria's Vice President, H.E. Senator Kashim Shettima, opened the four-day gathering on behalf of President Bola Ahmed Tinubu. He urged Africa to move beyond global cultural recognition and build commercially competitive creative businesses.
Shettima emphasized the need for Africa to capitalize on its cultural recognition and turn it into contracts, markets, and enduring wealth for its young people. He also stressed the importance of intra-African market access for creative businesses, stating that it is difficult for African creators to access African markets. According to him, "In 1977, we came to celebrate our culture. In 2026, we come to capitalise on it. We come to turn the world’s applause into contracts, its admiration into markets, and the talent of our young people into enduring wealth."
The African Export-Import Bank (Afreximbank) has committed $2 billion through 2027 to support Africa's creative and cultural industries. This commitment builds on earlier financing commitments as demand across the sector has expanded. CANEX WKND 2024 in Algiers brought together participants from 81 countries and facilitated over $540 million in trade and investment deals. Additionally, over $600 million in financing is being unlocked for digital and creative enterprises in Nigeria through the Investment in Digital and Creative Enterprises programme (iDICE).
Dr. Jumoke Oduwole, Nigeria's Minister of Industry, Trade and Investment, revealed that proposed transactions worth over $500 million are being discussed between Nigerian entrepreneurs, buyers, and investors in deal rooms co-curated with Afreximbank during CANEX. She stated that the ambition is to secure a deal for every part of the creative economy, from sports and gaming to creative technology and infrastructure, the arts, and gastronomy.
Nigeria has introduced measures to strengthen the commercial environment for creative businesses, including the country's first National Intellectual Property Policy and Strategy, approved in 2025. The Creative Sector Investment Playbook was launched in January 2026 to guide investment into areas such as studios, content production, and distribution. Nigeria, alongside Kenya and South Africa, is also a co-champion of the African Continental Free Trade Area Protocol on Digital Trade.
Afreximbank President and Chairman of the Board of Directors, Dr. George Elombi, emphasized that increasing production finance alone is not sufficient unless Africa also strengthens ownership and value capture across the creative-industry supply chain. He cited estimates from the United Nations Economic Commission for Africa, which values Africa's creative economy at approximately $60 billion, representing around 2% of the global creative industry.
Dr. Elombi stressed the need to build the creative ecosystem, stating that financing schemes alone will not yield significant value. The CANEX WKND 2026 conference aims to bring together stakeholders to discuss and address the challenges facing Africa's creative economy. The event provides a platform for African leaders, entrepreneurs, and investors to explore opportunities and partnerships that can help drive growth and development in the sector.
Key points
- Africa's creative economy is valued at approximately $60 billion, representing around 2% of the global creative industry.
- Afreximbank has committed $2 billion through 2027 to support Africa's creative and cultural industries.
- Nigeria has introduced measures to strengthen the commercial environment for creative businesses, including the country's first National Intellectual Property Policy and Strategy.
