Africa’s creative economy requires increased investment, stronger intellectual property (IP) protection and improved distribution networks to unlock its commercial potential and enable the continent to retain more value from its creative industries.
The call was made at the opening of the four-day Creative Africa Nexus (CANEX) WKND 2026 in Lagos, Nigeria, where policymakers, investors, financial institutions and industry stakeholders highlighted the need to transform Africa’s growing creative talent into commercially sustainable businesses.
Speaking on behalf of President Bola Ahmed Tinubu, Vice President Kashim Shettima said Africa must move beyond celebrating the international recognition of its cultural industries and focus on building competitive businesses capable of accessing global markets. He also emphasised the importance of strengthening intra-African trade to help creative businesses reach audiences and consumers across the continent.
Financing remains a central part of the agenda. Afreximbank has committed US$2 billion through 2027 to support Africa’s creative and cultural industries, building on previous investments in the sector.
In Nigeria, more than US$600 million in financing is also being unlocked for digital and creative enterprises through the Investment in Digital and Creative Enterprises (iDICE) programme.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed that proposed transactions worth more than US$500 million were already under discussion between Nigerian entrepreneurs, buyers and investors through deal rooms organised in partnership with Afreximbank.
She said the initiative aims to connect local creative businesses with international buyers and investors, facilitating commercial partnerships across sectors including film, music, sports, gaming, creative technology, infrastructure, arts and gastronomy.
Nigeria has also introduced policy measures to strengthen the investment environment, including its first National Intellectual Property Policy and Strategy, approved in 2025, and the Creative Sector Investment Playbook, launched in January 2026.
However, Afreximbank President and Chairman of the Board, Dr George Elombi, cautioned that increased production financing alone would not deliver the full economic benefits of the creative economy without addressing weaknesses across the wider industry value chain.
Citing estimates from the United Nations Economic Commission for Africa (UNECA), Elombi said the continent’s creative economy is valued at approximately US$60 billion, representing around two per cent of the global creative industry.
He identified distribution, branding, marketing platforms and intellectual property ownership as critical areas requiring greater investment, arguing that African businesses must retain more control over how creative products reach consumers and generate revenue.
The discussions also highlighted opportunities for stronger regional cooperation through the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade, with Nigeria working alongside Kenya and South Africa to advance the initiative and facilitate cross-border digital commerce.
CANEX WKND 2026 attracted more than 15,000 delegates from across Africa, the Caribbean and the wider diaspora. Its programme included the CANEX Deal Room, Creative Economy Finance Summit, African Producer Accelerator, CANEX Music Factory, CANEX Book Factory and CANEX CreaThon.
The event also featured dedicated programmes covering film and television, music, fashion, sports, publishing, gastronomy, visual arts and technology.
For Africa’s broadcasters, content producers, streaming platforms and media businesses, the discussions reinforce the importance of building sustainable commercial structures around locally produced intellectual property. Access to financing, effective rights protection and stronger distribution channels will be essential to ensuring that the continent’s growing creative output translates into long-term economic value.
The broader focus is therefore shifting beyond funding individual productions towards developing an integrated creative ecosystem capable of supporting ownership, commercialisation and international distribution of African content.
