Africa: CANEX Aims to Empower African Creatives to Compete in Global Markets and Drive Economic Growth

What the report says

Creatives from across Africa are meeting in Lagos, Nigeria, for Creative Africa Nexus, or CANEX, a four-day gathering organized by Afreximbank with support from the Federal Government of Nigeria. The event, branded CANEX WKND, runs from 5 to 8 November and is meant to bring together artists, investors, policymakers and industry leaders to help expand Africa’s cultural and creative sectors.

According to AllAfrica’s report, the meeting has drawn more than 15,000 registrations from the global creative community. Organizers say the goal is to turn the continent’s cultural influence into stronger businesses, trade, investment and jobs. Afreximbank president and board chairman George Elombi said the initiative was created to strengthen creators’ capacity and help more value remain within Africa. The bank has also raised its creative-economy funding target over time, with Elombi saying the budget moved from $500 million to $1 billion and then to $2 billion in 2024.

The program covers film, television, music, fashion, publishing, sport, gastronomy and visual arts. Speakers, including Nigerian actor Richard Mofe-Damijo, said African culture is already globally visible, but that recognition does not automatically lead to economic ownership or prosperity.

Afreximbank and partners are also using the event to discuss financing models, intellectual property protection, market access and the role of artificial intelligence in helping African creatives compete internationally. The broader aim is to strengthen the continent’s place in global creative markets while supporting economic diversification and intra-African trade.