Afreximbank eyes $1bn creative economy deals at CANEX WKND 2026 in Lagos

Afreximbank is targeting at least $1 billion in capital commitments from prospective investors at CANEX WKND 2026 in Lagos. The bank wants to deepen investment in Africa's creative economy through the four-day event holding at the Wole Soyinka Centre for Culture and Creative Arts, formerly the National Theatre, Lagos.

Kanayo Awani, Afreximbank's Executive Vice President for Intra-African Trade and Export Development, disclosed the target while speaking to journalists on Friday on the sidelines of the CANEX Summit.

Algiers benchmark and $100m start

Awani said the Lagos edition is expected to surpass the deals recorded at the previous event in Algiers, Algeria, where Afreximbank facilitated about $540 million in trade and investment transactions in 2024.

She said the bank had already signed two cooperative agreements worth about $100 million on Thursday. More commitments are expected before the event 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 said.

Awani added that the scale of Nigeria's market and the opportunities in its creative industry justified a higher target.

"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 said.

What CANEX WKND 2026 offers

CANEX WKND 2026 is an Afreximbank initiative designed to promote investment, trade and commercial opportunities across Africa's creative and cultural industries. The four-day event commenced on Thursday and is organised in partnership with the Federal Government of Nigeria, the African Union Commission and the Secretariat of the African Continental Free Trade Area.

The platform gives African creative businesses and brands opportunities to explore international markets, attract investors and establish commercial partnerships. It also allows artists and content creators to commercialise their intellectual property, showcase their work and connect with potential buyers and distributors.

Participants are engaging in exhibitions, creative writing workshops, literary activities and culinary showcases. The programme features music, film, fashion, literature, spoken-word poetry, sports and other creative sectors. Key attractions include the CANEX Summit, marketplace, book fairs and business-to-business engagements.

Through the initiative, Afreximbank aims to strengthen the commercial infrastructure supporting Africa's creative industries and improve access to finance, international markets and distribution networks.

Stronger earnings back the push

The investment drive comes as Afreximbank reports net income of $813.5 million for the nine months ended September 30, 2026, up 24% from $654.3 million in the corresponding period of 2025.

Gross income increased by 11% to $2.7 billion from $2.4 billion in the prior-year period. Net interest income rose by 17.45% to $1.49 billion from $1.27 billion.

The bank said the improvement was supported by increased lending activities, higher interest income and improved cost efficiency. Management also indicated that its financial performance had exceeded expectations for the current financial year.

For Nigerian creative businesses, the Lagos event is a chance to connect with investors and buyers. Afreximbank's stronger earnings also provide context for its push to mobilise financing for Africa's creative economy.