The Creative Africa Nexus (CANEX) WKND 2026 event kicked off on November 6, 2026, in Lagos, Nigeria, with a four-day program aimed at promoting cultural and intellectual exchange. African leaders emphasized the need for stronger financing, intellectual property protection, distribution channels, and market access to help the continent capitalize on the economic value generated by its creative industries.
Nigerian Vice President Kashim Shettima, speaking on behalf of President Bola Ahmed Tinubu, urged Africa to move beyond recognizing its cultural influence and focus on building commercially competitive creative enterprises. He stated that the continent should transform global admiration into tangible economic benefits and turn talent into sustainable wealth. Shettima also advocated for improved access to intra-African markets for creative businesses.
The African Export-Import Bank (Afreximbank) has committed to mobilizing $2 billion by 2027 to support Africa's cultural and creative industries, building on previous financing engagements. This comes as the sector's needs continue to expand. At CANEX WKND 2024 in Algiers, participants from 81 countries gathered, resulting in business transactions and investments worth over $540 million.
In Nigeria, over $600 million in funding is being mobilized for digital and creative enterprises under the Investment in Digital and Creative Enterprises (iDICE) program. Nigerian Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, reported that potential transactions worth over $500 million are being discussed between Nigerian entrepreneurs, buyers, and investors through CANEX-facilitated negotiations with Afreximbank.
To improve the business environment for creative industries, Nigeria has implemented several measures, including its first National Intellectual Property Policy and Strategy, approved in 2025, and the Creative Sector Investment Playbook, launched in January 2026. The playbook aims to guide investments into areas such as studios, content production, and distribution.
Afreximbank President Dr. George Elombi emphasized that increased financing for production alone is insufficient; Africa must also strengthen its mastery of the creative industries' value chain and ability to capture economic benefits. Citing UN Economic Commission for Africa estimates, Dr. Elombi noted that Africa's creative economy is valued at around $60 billion, or nearly 2% of the global creative industry.
The CANEX WKND 2026 event brings together over 15,000 participants, including government representatives, investors, financial institutions, creators, and businesses from across Africa, the Caribbean, and the diaspora. The program features various initiatives, such as the CANEX Deal Room, Creative Economy Finance Summit, and sector-specific programs focused on cinema, music, fashion, sports, literature, and more.
Key points
- African leaders stress the need for better financing and intellectual property protection to boost creative industries.
