The African Export-Import Bank (Afreximbank) is focusing on at least $1 billion in capital commitments from potential traders at the continuing Creative Africa Nexus (CANEX WKND 2026) in Lagos, because the financial institution seeks to deepen investment in Africa’s inventive economic system.
Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, disclosed this whereas chatting with journalists on Friday on the sidelines of the CANEX Summit at the Wole Soyinka Centre for Culture and Creative Arts, previously the National Theatre, Lagos.
Awani expressed confidence that the Lagos version would surpass the investment deals recorded at the earlier occasion in Algiers, Algeria, the place Afreximbank facilitated roughly $540 million in commerce and investment transactions in 2024.
Afreximbank indicators two cooperative agreements value $100 million
She famous that the financial institution had already signed two cooperative agreements value roughly $100 million on Thursday, with expectations of extra commitments earlier than the four-day occasion concludes on Sunday.
- “In Algiers in 2024, we got deals close to about $540 million. The expectations here are high. It’s expected that deals would be done, and that’s why we have deal rooms. On Thursday, we signed two cooperative agreements of about $100 million,” she stated.
Awani added that the dimensions of Nigeria’s market and the alternatives inside its inventive trade justified an excellent greater goal.
- “This is Lagos, and this is Nigeria. There is no reason why we shouldn’t expect more than $1 billion. The only thing that I can assure you is that Afreximbank is here to support. We are here to promote, we are here to facilitate and we are here to finance Nigeria and Africa’s creative economy,” she stated.
CANEX WKND 2026 Targets Africa’s Creative Economy
CANEX WKND 2026 is an Afreximbank initiative designed to advertise investment, commerce and industrial alternatives throughout Africa’s inventive and cultural industries.
- The four-day occasion, which commenced on Thursday, is being organised in partnership with the Federal Government of Nigeria, the African Union Commission (AUC) and the Secretariat of the African Continental Free Trade Area (AfCFTA).
- The platform offers African inventive companies and types with alternatives to discover worldwide markets, appeal to traders and set up industrial partnerships.
- It additionally creates alternatives for artists and content material creators to commercialise their mental property, showcase their work and join with potential patrons and distributors.
Participants are participating in exhibitions, inventive writing workshops, literary actions and culinary showcases, whereas exhibitors have the chance to advertise African services to a wider worldwide viewers.
The programme options actions throughout music, movie, vogue, literature, spoken-word poetry, exhibitions, sports activities and different inventive sectors.
Key sights embody the CANEX Summit, market, guide gala’s and varied business-to-business engagements designed to attach inventive entrepreneurs with traders and trade stakeholders.
Through the initiative, Afreximbank goals to strengthen the industrial infrastructure supporting Africa’s inventive industries and enhance entry to finance, worldwide markets and distribution networks.
Afreximbank’s Nine-Month Net Income Rises 24% to $813.5m
The investment drive comes as Afreximbank studies stronger monetary efficiency, with net income increasing by 24% to $813.5 million for the nine months ended September 30, 2026.
- This compares with $654.3 million recorded in the corresponding interval of 2025, reflecting progress in curiosity earnings and lending actions.
- Gross earnings elevated by 11% to $2.7 billion from $2.4 billion in the prior-year interval, whereas internet curiosity earnings rose by 17.45% to $1.49 billion from $1.27 billion.
- The enchancment in profitability was supported by elevated lending actions, greater curiosity earnings and improved price effectivity.
- Management additionally indicated that the financial institution’s monetary efficiency had exceeded its expectations for the present monetary 12 months.
The stronger earnings present extra context for Afreximbank’s push to mobilise investment and financing for Africa’s inventive economic system, which continues to draw consideration as a possible supply of employment, export earnings and financial diversification.
