{
  "id": 18465961,
  "title": "Afreximbank targets over $540m deals at Lagos CANEX",
  "url": "https://urgent.news/2026/11/06/afreximbank-targets-over-540m-deals-at-lagos-canex-18465961",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T08:10:52.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/afreximbank-targets-over-540m-deals-at-lagos-canex/"
  },
  "original_language": "en",
  "account": "The African Export-Import Bank (Afreximbank) aims to secure deals valued at over $540 million during the Creative Africa Nexus Weekend 2026 held in Lagos. Dr. George Elombi, the bank's president and chairman of the board, expressed confidence that the transactions in Lagos would surpass those of the previous gathering. The event, hosted by the Federal Government and organized by Afreximbank, runs from November 5 to 8 under the theme, \"One People, United in Culture, Creating for the World.\" The Creative Economy Finance Summit, organized in partnership with Co-Creation Hub, will focus on how creative industry transactions could be structured, financed, and de-risked. Dr. Elombi highlighted the imbalance in the distribution of profits from African creators' global successes and the obstacles they face, such as foreign control of distribution networks and intellectual property rights. He emphasized the need for African businesses to control distribution, marketing, and other value-chain activities. Afreximbank has increased its creative industry financing commitment from $500 million to $2 billion, with the bank investing in various sectors, including film, music, fashion, and creative infrastructure. To support creators, the bank has established a Pan-African Film Fund and invested in intellectual property. Dr. Elombi urged African governments to protect cultural budgets and encouraged financial institutions to consider lending against royalties. Looking ahead to the Intra-African Trade Fair in 2027, Afreximbank will evaluate the progress made during the current gathering.",
  "summary": "The African Export-Import Bank has set its sights on securing creative industry deals exceeding $540m at the Creative Africa Nexus Weekend 2026 in Lagos, as it seeks to expand financing for African music, film, fashion and other cultural businesses. Read More: https://punchng.com/afreximbank-targets-over-540m-deals-at-lagos-canex/",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Nairametrics",
        "title": "Lagos to add five CNG stations in November, targets 29 by Q1 2028",
        "url": "https://urgent.news/2026/11/06/lagos-to-add-five-cng-stations-in-november-targets-29-by-q1-2028",
        "published": "2026-11-06T11:40:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}