NIGERIA · CREATIVE ECONOMY
Key Facts
- The target An Afreximbank executive expects up to US$1 billion in deals, against about US$540 million in 2024.
- The event CANEX WKND 2026 runs in Lagos from Thursday 5 to Sunday 8 November at the old National Theatre.
- The money Afreximbank says its commitment to creative industries has grown from US$500 million to US$2 billion.
- The government Nigeria’s government hosts the event, and Afreximbank organises it.
- The sectors Film, music, fashion, sport, literature, gastronomy and visual arts are all on the programme.
Afreximbank creative deals could reach US$1 billion at its Lagos festival this week, a senior executive of the African Export-Import Bank said. Kanayo Awani told a panel the bank expects up to that much, against about US$540 million in 2024.
The Creative Africa Nexus Weekend (CANEX WKND) opened on Thursday 5 November 2026 and runs to Sunday. Nigeria’s government hosts the event, and Afreximbank organises it.
What Afreximbank Said in Lagos
Awani is Afreximbank’s executive vice president for intra-African trade and export development. She said the bank’s US$2 billion commitment to creative industries covers seven areas, including film, music, fashion, sport, literature and gastronomy.
She said the bank offers more than loans, including equity financing, training, protection of intellectual property and links between African creators and overseas buyers.
How the Creative Fund Grew
Afreximbank’s president, George Elombi, told the opening that the commitment began at US$500 million. It doubled to US$1 billion and then rose to US$2 billion, paying for studios, distribution, marketing and intellectual property.
The 2026 programme includes the CANEX Deal Room, where creators meet investors. A closing concert on Sunday brings artists together from across Africa and the diaspora.
Why Creators Say Money Is Not Enough
Elombi said foreign firms capture much of the value because they control distribution and catalogues. Creators at the festival argue that cheaper credit and clear ownership of their work matter as much as grants.
In Plain English, Who Is Who
Afreximbank is a pan-African bank that finances trade, and Kanayo Awani and George Elombi are two of its senior officials. Intellectual property means legal rights over creative work, such as music or film.
The CANEX Deal Room is a meeting space where creators pitch to investors.
What It Means for You
For US readers, the event shows how Nigerian film, music and fashion are drawing dollar finance. Afrobeats and Nollywood already reach American audiences, so deals made in Lagos can affect what streams in the United States.
Investors in Africa’s creative sector can follow Afreximbank deals in Rio Times reports on the bank’s profit and on a new Africa energy bank. Elombi urged creators to register their intellectual property so it can be used as collateral.
What Is Not Known
The final value of deals signed at the festival is not known. Afreximbank can give the total when CANEX WKND closes on Sunday 8 November.
How many of the deals under discussion will close, and when, is also not known.
More: Africa news in English, every day from The Rio Times.
Frequently Asked Questions
What is Afreximbank targeting at CANEX WKND 2026?
Afreximbank executive Kanayo Awani said the bank expects up to US$1 billion in deals from the Lagos event. The 2024 edition produced about US$540 million.
When and where is CANEX WKND 2026?
It runs from Thursday 5 to Sunday 8 November 2026 in Lagos, Nigeria. The venue is the Wole Soyinka Centre for Culture and Creative Arts, the former National Theatre in Iganmu.
How much has Afreximbank pledged to creative industries?
The bank says its commitment has grown from US$500 million to US$2 billion. The money supports production, distribution, marketing and intellectual property.
Who hosts the event?
The Federal Government of Nigeria hosts it, and Afreximbank organises it. The African Union Commission and the African Continental Free Trade Area Secretariat are partners.
Sources: Afreximbank, CANEX WKND 2026 programme statement and panel remarks, Lagos, 5 to 6 November 2026; Federal Government of Nigeria, opening ceremony remarks, CANEX WKND 2026, Lagos, 5 November 2026; Previous Rio Times coverage: Afreximbank Net Profit Rises 24% to US$813M, 27 October 2026; Previous Rio Times coverage: Africa Energy Bank Founded With US$5 Billion, 1 November 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief