Afreximbank quadruples creative industries financing commitment to US$2 billion

The African Export-Import Bank (Afreximbank) has more than quadrupled its commitment to financing Africa's creative and cultural industries, now promising US$2 billion versus a previous pledge of US$500 million. This significant increase in support is aimed at boosting investment and enhancing the commercial potential of the continent's creative economy.

The announcement was made during the opening of the Creative Africa Nexus (CANEX) WKND 2026 event on November 5 in Lagos. The event, hosted by Nigeria's Federal Government and organized by Afreximbank, gathered investors, policymakers, creatives, and business leaders from Africa and the diaspora for a four-day gathering focused on culture and commerce.

CANEX WKND 2026 runs until November 8, with themes such as "One People, United in Culture, Creating for the World." The expanded financing commitment is part of Afreximbank's ongoing efforts to foster growth in its financial performance. In the nine months ending on September 30, 2026, the bank's net income reached US$813.5 million, a 24% rise compared to the same period in the previous year, driven by stronger net interest income.