The African Export-Import Bank (Afreximbank) and several Nigerian development finance institutions have announced agreements worth a combined $118 million to support Nigeria’s creative industries at CANEX WKND 2026, held in Lagos from 5 to 8 November. The package was presented as the gathering opened with a focus on cultural business financing and access to markets.
The agreements include a $75 million facility involving Afreximbank and the Development Bank of Nigeria (DBN), along with a separate $30 million financing arrangement and a $13 million grant involving Afreximbank, the Nigerian Export-Import Bank (NEXIM) and the Small and Medium Enterprises Development Agency (SMEDAN), according to reports by The Guardian Nigeria and Western Post. These are distinct financial instruments intended to help cultural enterprises expand their operations.
Film, music, fashion and other creative businesses stand to benefit from the initiatives. Access to finance is important for producers and entrepreneurs seeking to fund production, retain ownership of intellectual property and distribute their work in larger markets. The announced facilities aim to support businesses that can earn lasting revenue from the creations and catalogues they develop.
Connecting creative businesses with investors
Organised by Afreximbank and hosted by the Nigerian government, CANEX WKND brings entrepreneurs, investors and cultural industry representatives together in Lagos. Its CANEX Deal Room is designed to connect businesses seeking capital with potential financiers. Nigeria’s Investment in Digital and Creative Enterprises programme, known as iDICE, is also participating.
At the opening, Afreximbank President George Elombi reiterated the bank’s $2 billion financing commitment to Africa’s creative industries for 2024–2027. That multi-year programme provides wider context for the agreements announced in Lagos, which have their own $118 million total.
Through the CANEX Deal Room, iDICE plans to engage between 15 and 20 businesses and facilitate 40 to 50 meetings between investors and entrepreneurs during the event.