By Emmanuella Opara | November 6th 2026
KEY POINTS
- Afreximbank is targeting creative industry transactions exceeding $540m at the Creative Africa Nexus Weekend 2026 in Lagos.
- The bank has increased its financing commitment to the sector from an initial $500m to $2bn.
- Afreximbank is seeking to help African creators retain more revenue through stronger intellectual property ownership and control of distribution networks.
- The bank is promoting the use of intellectual property and royalty earnings as collateral for financing.
MAIN STORY
The African Export-Import Bank is targeting more than $540m in creative industry transactions at the Creative Africa Nexus Weekend 2026 in Lagos, as it steps up efforts to expand financing and investment across Africa’s cultural and entertainment sectors.
The bank’s President and Chairman of the Board of Directors, Dr George Elombi, announced the target on Thursday at the opening ceremony of the four-day event, expressing confidence that deals concluded in Lagos would exceed those recorded at the previous gathering.
The event, hosted by the Federal Government and organised by Afreximbank, is taking place from November 5 to 8 under the theme, “One People, United in Culture, Creating for the World.”
Elombi said the Lagos gathering should surpass the previous $540m benchmark, adding that the city had an opportunity to establish a much higher target for future editions.
Through the CANEX Deal Room and Creative Pitch Sessions, the programme is expected to connect entrepreneurs with financiers and investors interested in film, television, music, fashion, sports, publishing, gastronomy, visual arts and creative infrastructure.
The bank is also partnering with the Creative Economy Practice at Co-Creation Hub to organise the Creative Economy Finance Summit, which will examine ways to structure transactions, attract investment and reduce financing risks in the sector.
Elombi said African creators continued to gain international recognition without receiving a fair share of the financial returns generated by their work. He estimated the continent’s creative economy at about $60bn, representing only two per cent of the global creative industry, based on figures attributed to the United Nations Economic Commission for Africa.
He identified foreign control of distribution networks, branding, marketing platforms, intellectual property rights and content catalogues as factors limiting the earnings retained by African businesses.
The Afreximbank president also warned that digital algorithms increasingly influenced the international reach of African music and films, while artificial intelligence presented additional risks through the unauthorised reproduction of creative works.
He argued that investment in production alone would not address the sector’s challenges unless African businesses also developed control over distribution, marketing and other commercially valuable parts of the creative process.
Afreximbank has expanded its financial commitment to the creative industry from an initial $500m to $1bn before increasing it to $2bn in 2024.
The bank has also established a Pan-African Film Fund to support production and distribution, while investing in recording studios, fashion manufacturing, entertainment venues and other creative infrastructure. Through CANEX Creations Inc., it has invested in African intellectual property, including film projects and music catalogues.
This year’s programme also includes discussions on intellectual property investment, artificial intelligence and digital tools, as well as a CANEX CreaThon organised with technology company Gebeya, with a $50,000 prize pool.
Elombi called on African governments to protect cultural budgets despite fiscal pressures, warning that reductions in public funding could affect employment and economic opportunities.
He further advocated greater recognition of intellectual property as collateral for loans, citing Nigeria’s Secured Transactions in Movable Assets Act of 2017. He said connecting collateral registries with copyright and trademark databases under the African Continental Free Trade Area could make it easier for creators to obtain financing across national borders.
He urged financial institutions to consider lending against royalty earnings and advised creators to register their intellectual property and maintain reliable records of their income.
THE ISSUES
The expansion of Africa’s creative economy depends not only on the production of music, films, fashion and other cultural products but also on who controls the businesses that distribute and commercialise them.
African creators may achieve international success while foreign-owned platforms and distribution networks capture a substantial share of the resulting revenue. Weak intellectual property records and limited access to financing can also prevent creative businesses from using their assets to secure loans or expand operations.
Afreximbank’s approach therefore places emphasis on financing the wider creative value chain, including ownership, distribution, marketing and infrastructure. However, the extent to which these investments translate into stronger local businesses will depend on the ability of creators and companies to build sustainable commercial operations.
WHAT’S BEING SAID
“Lagos has to be several multiples of 540. So let Lagos set the mark, and I’m sure that mark will be hard to catch up elsewhere,” George Elombi, President and Chairman of the Board of Directors of Afreximbank, said.
“So too often, the African creators make the hits, and someone else makes the money,” George Elombi said.
“Our talent is global, but our share of the value is not,” George Elombi said.
“The right that is not on record cannot be financed. And the royalty no one can audit cannot be priced,” George Elombi said.
WHAT’S NEXT
Afreximbank is expected to assess the commercial outcomes of the Lagos gathering, including contracts signed, studios established, intellectual property acquired and livelihoods created.
The bank will also look towards the Intra-African Trade Fair scheduled to hold in Lagos in 2027, where the development of the continent’s creative economy is expected to remain part of its wider trade and investment agenda.
BOTTOM LINE
Afreximbank’s $540m-plus target reflects its ambition to turn Africa’s creative success into greater economic returns for local businesses. Achieving that goal will require more than funding production; it will depend on stronger intellectual property protection, access to finance and greater African ownership of the platforms and infrastructure through which creative works generate revenue.
