Nigeria · Banking · Creative Economy
Afreximbank, the pan-African trade bank, has signed a term sheet to invest in CREAM, a Nigerian music and talent platform led by the Afrobeats star D’banj. The term sheet, which outlines a proposed deal, was signed by CANEX Creations, an Afreximbank unit that invests in African intellectual property, and announced by the bank on 25 July 2025.
On Friday 13 November 2026 a Nigerian news outlet reported that the stake was formalised on 6 November at CANEX WKND 2026, Afreximbank’s Creative Africa Nexus festival in Lagos, but the bank has not published a release on it. Neither the size of the stake nor its value has been disclosed.
Key Facts
- Who Afreximbank, through its unit CANEX Creations, and D’Kings Men Media, owner of the CREAM platform.
- What An equity investment in CREAM (Creative Reality Entertainment Arts and Music), which helps African creators get discovered and paid via mobile phones.
- Confirmed A term sheet was signed in Abuja in June 2025 and announced on 25 July 2025, subject to due diligence and board approval.
- Reported, not confirmed A Nigerian outlet reported the stake was formalised in Lagos on 6 November 2026; size and value undisclosed.
- Scale CREAM says it has over seven million subscribers; Afreximbank has committed US$2 billion to creative industries.
What Is Confirmed
Afreximbank said in July 2025 that CANEX Creations Inc., the unit it set up to invest in and commercialise African intellectual property, had agreed a proposed equity investment in D’Kings Men Media Ltd. The term sheet was signed at the bank’s annual meetings in Abuja in June 2025, and the bank announced it on 25 July 2025 as subject to satisfactory due diligence (a review of the target’s finances) and final board approval. At that time D’banj, whose legal name is Daniel Oladapo Oyebanjo, said CREAM had more than seven million subscribers in Nigeria and had received more than 10,000 content submissions.
The platform, launched in 2016, works through the web and a mobile-phone code on MTN Nigeria, the country’s largest mobile network.
What Is Only Reported
A Nigerian news outlet reported on 13 November 2026 that the investment was formalised at a signing ceremony at CANEX WKND 2026 in Lagos on 6 November. We could not confirm this with the bank: its press page showed no release on it as of 13 November, and its release of 6 November on the event does not mention CREAM.
That release, dated Lagos, 6 November 2026, says Vice President Kashim Shettima opened the event for President Bola Tinubu and that Afreximbank has committed US$2 billion through 2027 to creative and cultural industries. The wider picture is in our report on the bank’s US$1 billion creative-deals goal.
What It Means for You
If the stake is completed, a development bank would own part of a music platform instead of only lending to creators. That matters to readers following Nigeria’s Afrobeats exports because ownership gives the bank a share of any growth, and a share of any loss.
Among the bank’s other recent Nigerian deals was a US$75 million facility for small firms via the Development Bank of Nigeria. More coverage sits on our Nigeria news page.
What Is Not Known
Neither side has published the percentage stake, the price or the closing date. It is also unclear whether the due diligence and board approval named in 2025 have been completed.
Frequently Asked Questions
What is CREAM?
CREAM stands for Creative Reality Entertainment Arts and Music, a Nigerian platform that helps creators get discovered and paid through mobile technology. It is owned by D’Kings Men Media Ltd, led by D’banj.
Has Afreximbank bought a stake in CREAM?
Afreximbank announced on 25 July 2025 that it had signed a term sheet for an equity investment, subject to due diligence and board approval. A Nigerian outlet reported on 13 November 2026 that the stake was formalised on 6 November, but the bank has not published its own release.
How much did Afreximbank pay?
The amount has not been disclosed. Neither the stake nor the value has been published.
Sources: Afreximbank press release, Abuja, 25 July 2025 (afreximbank.com); Afreximbank press release on CANEX WKND 2026, Lagos, 6 November 2026 (afreximbank.com); A Nigerian news report of 13 November 2026 (not yet confirmed by an Afreximbank release).
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error