Business · Companies · 5 hrs ago
Afreximbank commits $118m to Nigeria’s creative economy
At the Creative Africa Nexus WKND 2026 in Lagos, Afreximbank announced $118 million to support Nigeria’s creative economy.
The package includes a $75 million facility involving the Development Bank of Nigeria, a $30 million financing arrangement and a $13 million grant involving NEXIM and SMEDAN.
The funding is intended to help local creative businesses expand production, protect intellectual property and compete internationally.
Many such businesses struggle to get loans because their valuable assets, such as music catalogues and film rights, do not fit conventional lending models.
Speakers said financing alone cannot make the sector competitive if businesses still face barriers to trading across borders, protecting their work and reaching customers.
The package’s wider impact will depend on whether the money reaches businesses and whether they can operate beyond Nigeria’s domestic market.
Afreximbank announced $118 million in financing to support Nigeria’s creative economy at the Creative Africa Nexus (CANEX) WKND 2026 in Lagos.
The package is intended to help local businesses expand production, protect intellectual property and compete in international markets.
It comprises a $75 million facility involving Afreximbank and the Development Bank of Nigeria, a $30 million financing arrangement and a $13 million grant involving three organisations.
Discussions at the event highlighted that financing alone may not make it easier for creative businesses to trade across Africa.
Participants also pointed to the need for stronger intellectual property protection, easier cross-border movement and better routes to market.
- Who
- Afreximbank announced the financing for Nigeria’s creative economy.
- What
- A $118 million package to support creative businesses.
- When
- At CANEX WKND 2026; the event date is not stated.
- Where
- Lagos, Nigeria.
- Why
- To help local creative businesses expand production, protect intellectual property and compete in international markets.
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- Total package
- $118 million
- Afreximbank and DBN facility
- $75 million
- Financing arrangement
- $30 million
- Grant
- $13 million
- Event
- CANEX WKND 2026, Lagos
What people are saying
You can’t move A to B without a thorough contribution, a dynamic relationship between vision and financing
Two and a half per cent of all loans in your country must go to the creative sector
You must take a political position and run for office