By Abubakar Yunusa
The African Export-Import Bank (Afreximbank) announced it facilitated deals worth $540 million during the 2024 Creative Africa Nexus Weekend (CANEX WKND), an event aimed at fostering Africa’s creative economy.
Held in Algiers from October 16 to 19, the event attracted about 4,000 participants from 81 countries, including the African diaspora, and featured performances, masterclasses, and panel discussions.
Key agreements reached include a €245 million facility granted to New World Television (NWTV) to acquire sports broadcasting rights across 24 African nations, a move expected to bolster the media landscape across the continent.
Additionally, Afreximbank extended a $3 million facility to Mediwood Studios to strengthen Tunisia’s role as a production hub for Africa’s film industry.
“This initiative aligns with Afreximbank’s mission to drive economic growth within Africa’s creative sector, especially benefiting women and young people,” said Vincent Musumba, Afreximbank’s communications and events manager.
Nassim Amer, Afreximbank’s director of international cooperation, highlighted CANEX WKND as a platform that amplifies African creativity, fostering exposure for creators and advancing the African Continental Free Trade Area (AfCFTA) goal of enhancing intra-African trade.
“These deals reflect Afreximbank’s steadfast commitment to Africa’s creative industries, which are vital for economic growth and employment across the continent,” Afreximbank said in a statement.
The focus now shifts to the 4th edition of the Intra-African Trade Fair (IATF), set to take place from September 4 to September 10, 2025, in Algiers.
The IATF is expected to draw 35,000 participants worldwide, offering further support for Africa’s expanding creative industries.
Kanayo Awani, Afreximbank’s executive vice president for Intra-African Trade and Export Development, praised Algeria’s support for the event, noting, “Local participation has been exceptional, setting an exciting stage for IATF 2025 in Algiers.”
She commended CANEX WKND’s mission to showcase Africa’s market opportunities and thanked partners for their contributions to the event’s success.