The African Export-Import Bank (Afreximbank) is targeting at least $1 billion in investment commitments at the ongoing Creative Africa Nexus (CANEX WKND 2026) in Lagos as it intensifies efforts to attract funding and expand commercial opportunities in Africa’s creative economy.
Kanayo Awani, the bank’s Executive Vice President for Intra-African Trade and Export Development, disclosed the target while speaking with journalists on Friday on the sidelines of the CANEX Summit at the Wole Soyinka Centre for Culture and Creative Arts, formerly known as the National Theatre, Lagos.
Awani expressed confidence that the Lagos edition would record investment transactions significantly higher than those achieved at the previous event held in Algiers, Algeria, in 2024.
At the Algiers edition, Afreximbank facilitated approximately $540 million in trade and investment deals.
She said the bank had already signed two cooperative agreements valued at about $100 million on Thursday, with further commitments expected before the four-day programme ends on Sunday.
According to Awani, the investment target reflects the scale of Nigeria’s economy and the opportunities available across its creative industries.
She said there was no reason the Lagos edition should not attract more than $1 billion, adding that Afreximbank was committed to supporting, promoting, facilitating and financing creative businesses across Nigeria and the wider African continent.
The executive vice president explained that dedicated deal rooms had been established at the event to enable investors, businesses and other stakeholders to negotiate and conclude investment transactions.
CANEX WKND 2026 Focuses on Africa’s Creative Industries
CANEX WKND is an Afreximbank initiative aimed at expanding investment, trade and commercial opportunities in Africa’s cultural and creative industries.
The 2026 edition, which commenced on Thursday, is being organised in partnership with the Federal Government of Nigeria, the African Union Commission and the Secretariat of the African Continental Free Trade Area (AfCFTA).
The event provides African creative businesses, entrepreneurs and brands with opportunities to access international markets, attract investors and establish commercial partnerships.
It also seeks to help artists and content creators generate revenue from their intellectual property by connecting them with potential buyers, distributors and other industry stakeholders.
Participants are taking part in exhibitions, creative writing workshops, literary programmes and culinary showcases, while exhibitors are presenting African products and services to a wider international audience.
The programme covers several creative sectors, including music, film, fashion, literature, spoken-word poetry, sports and visual arts.
Major attractions include the CANEX Summit, marketplace, book fairs and business-to-business engagements designed to connect creative entrepreneurs with investors and potential commercial partners.
Through the initiative, Afreximbank aims to strengthen the financial and commercial infrastructure of Africa’s creative economy by improving access to funding, international markets and distribution networks.
Afreximbank Records 24% Growth in Nine-Month Net Income
The bank’s investment drive comes amid an improvement in its financial performance, with net income rising by 24% to $813.5 million for the nine months ended September 30, 2026.
This represents an increase from the $654.3 million recorded during the corresponding period of 2025.
Afreximbank’s gross income also increased by 11% to $2.7 billion, compared with $2.4 billion in the previous year.
Net interest income climbed by 17.45% to $1.49 billion from $1.27 billion recorded in the corresponding period of 2025.
The growth was attributed to increased lending activities, stronger interest earnings and improved cost efficiency.
The bank’s management also indicated that its financial performance had exceeded expectations for the current financial year.
The improved earnings position provides additional support for Afreximbank’s efforts to mobilise capital for Africa’s creative industries, which are increasingly being recognised as important contributors to employment generation, export revenue and economic diversification.
The $1 billion investment target at CANEX WKND 2026 therefore represents an ambitious push to attract financing, strengthen partnerships and expand the global commercial reach of African creative businesses.