Keypoints:
- $50bn creative sector tipped as growth driver
- Calls for stronger policy, finance and support
- CANEX Summit highlights trade and investment links
AFRICA’S creative and cultural industries have been spotlighted as powerful drivers of trade, investment and inclusive growth, with leaders urging stronger policies, financing and infrastructure to unlock their potential. The call came at the opening of the Creative Africa Nexus (CANEX) Summit, held alongside the Intra-African Trade Fair 2025 (IATF2025) in Algiers.
A $50bn sector with global impact
Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, told delegates that the creative economy—already worth more than $50bn and employing millions—could fuel Africa’s industrial revolution.
‘We see the role of the creative industries as absolutely essential to achieving our industrial development objectives through innovation, competitiveness and the spirit of our creative industry,’ Mene said.
AU champions cultural economy
African Union Commissioner for Health, Humanitarian Affairs and Social Development, Amma Twum-Amoah, urged governments to craft strong national policies to open markets and support creators.
‘The creative industries are no longer peripheral. They are central to Africa’s development, resilience and global influence,’ she said, noting that African music, film, fashion and digital art are reshaping identity and narratives.
Twum-Amoah argued that with the right backing, the sector could also advance social justice, public health and sustainable development.
Diaspora voices
Bahamas Minister for Grand Bahama, Ginger Moxey, stressed that culture remains one of the most powerful tools for economic and social transformation.
‘Our culture is not only a reflection of who we are. It is one of the most powerful tools our nations possess to transform economies, strengthen unity and inspire generations,’ she told participants.
Financing creativity differently
Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, unveiled CANEX Creations Incorporated, a new vehicle to monetise African intellectual property.
She explained that equity financing, rather than traditional debt, offers flexibility for creative businesses with intangible assets and uneven revenue cycles.
‘With this approach, we can invest across the entire value chain—building infrastructure, funding content, driving distribution—and position Africa’s creative industries for sustainable, long-term growth,’ Awani said.
Africa’s biggest creative gathering
The CANEX Summit, co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat, is billed as the largest gathering of creatives from Africa and the diaspora. The event convenes global and continental players to showcase talent, strike deals and explore investment in the fast-growing creative economy.
Hosted by Algeria, IATF2025 is expected to generate more than $44bn in trade and investment deals. Previous editions of the fair secured over $118bn in agreements and attracted more than 70,000 visitors and 4,500 exhibitors.
The fourth edition continues to serve as a platform for businesses to tap into AfCFTA’s single market of 1.4 billion people and a combined GDP of $3.5 trillion.
