Economic Updates - Featured - Regional - Top Stories - November 29, 2021

Africa’s creative industry can create millions of jobs

By Staff Reporter

The potential of Africa’s creative industry has been acknowledged by the African Export Import Bank (Afreximbank) under the Creative Africa Nexus (CANEX).

The CANEX, is a programme put in place by Afreximbank to support Africa’s creative and cultural industries.

Designed specifically for African creatives including digital innovators and experts, fashion, film, and music actors looking for ways to monetise their content across the digital landscape, the forum is a space to share, discuss and create solutions that will encourage creatives to find innovative ways to use existing technology to increase their remuneration and thrive in their careers.

It brought together the leading lights of Africa’s creative sector through substantial exhibition space, business to business/government meeting opportunities and a comprehensive programme of conversations, panels discussions, live performances, installations and screenings.

Benedict Oramah, president and chairman of the Board of Directors of Afreximbank said that the young men and women in the creative sector have turned it into tradable services with a global reach, appeal and impact.

“At Afreximbank,” he said, “we fully understand the power of the creative industry to catalyse intra-African trade, create millions of jobs for the continent’s young population, and promote the emergence of national and regional value chains. We also know the power of creatives to catalyse industrial development because this is a bankable industry.”

About $128m of the $500m facility set aside as seed capital by Afreximbank towards CANEX has already been invested in the form of loans to artists and facilitation of initiatives aimed at activating the nexus

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