The African Export-Import Bank (Afreximbank) is partnering with the Federal Government of Nigeria, the African Union Commission, and the African Continental Free Trade Area (AfCFTA) Secretariat to host the Creative Africa Nexus Weekend (CANEX WKND) in Lagos from November 5-8, 2026. The event will bring together creative professionals, investors, financiers, policymakers, and business leaders from Africa and the diaspora to explore opportunities for growth and development in the creative sector. With a theme that captures the relationship between cultural identity and economic ambition, CANEX WKND aims to connect African creative talent with investment, markets, and commercial opportunities.
Nigeria's rich cultural heritage, including its vibrant music, film, fashion, and visual arts scenes, has long been a source of national pride and international attention. However, the economic benefits of this creative output have often been limited, with African creators struggling to retain a significant share of the revenue generated by their work. CANEX WKND offers a platform for addressing these challenges, by bringing together the necessary elements for growth, including investment, professional management, regulation, infrastructure, and market access.
The event's historical significance is underscored by its connection to the 1977 Second World Black and African Festival of Arts and Culture (FESTAC '77), which was hosted in Lagos and showcased African artistic and cultural talent. According to Jahman Anikulapo, editorial director of Naija Times, FESTAC demonstrated the capacity of culture to unite people across geographical boundaries and historical experiences. As CANEX WKND approaches, the focus shifts to building commercially sustainable creative industries that can preserve the spirit of cultural solidarity while generating economic returns.
The success of the 2024 CANEX WKND edition in Algiers, Algeria, provides a compelling case for the Lagos event. The gathering attracted nearly 4,000 participants from 81 countries, featured 108 exhibitors, and facilitated deals valued at over $540 million. Notable transactions included a €245 million global facility agreement with New World Television (NWTV) for sports broadcasting rights and a $3 million financing facility for Mediwood Studios to support Tunisia's film industry.
CANEX WKND also offers a platform for showcasing emerging African talent and connecting creative entrepreneurs with investors and market opportunities. The event's CANEX Presents the Angels initiative, for example, provided a pitch session for smaller creative enterprises, resulting in $350,000 in committed investments for three businesses. The CANEX Shorts competition and the CANEX Prize for Publishing in Africa also recognized and rewarded creative excellence, while providing opportunities for professional development and market exposure.
As the African creative sector continues to grow and evolve, events like CANEX WKND play a critical role in unlocking its economic potential. By bringing together creative professionals, investors, and policymakers, CANEX WKND can help to drive growth, innovation, and job creation in the sector. The event's focus on building commercially sustainable creative industries also highlights the need for a more strategic approach to cultural development, one that prioritizes economic returns and social impact.
As Lagos prepares to host CANEX WKND in 2026, the city's creative sector is poised to play a major role in shaping the future of Africa's cultural industries. With its rich cultural heritage and growing creative talent pool, Nigeria is well-positioned to drive growth and innovation in the sector. By leveraging the opportunities presented by CANEX WKND, African creators and entrepreneurs can unlock new markets, attract investment, and build sustainable businesses that showcase the continent's vibrant cultural diversity.
Key points
- CANEX WKND aims to connect African creative talent with investment, markets, and commercial opportunities.
- The event's theme captures the relationship between cultural identity and economic ambition.
- The 2024 CANEX WKND edition in Algiers facilitated deals valued at over $540 million.
