Business
THE African Export-Import Bank, Afreximbank says a total of 540 million Dollars worth of deals were facilitated and agreed upon at the just concluded Creative Africa Nexus Weekend (CANEX WKND) 2024 in Algiers, Algeria.
This is contained in a statement issued by Mr Vincent Musumba, Manager, Communications and Events, Afreximbank on Monday in Abuja.
Musumba said key among the deals was a 245 million Euro global facility agreement with New World Television (NWTV) to part-finance the network’s acquisition of media licensing rights for sports broadcasting across 24 African countries.
In addition, he said Afreximbank announced a three million dollars facility with Mediwood Studios, designed to support the company’s efforts to expand the Tunisian film industry, further positioning the country as a hub for creative production.
Musumba quoted Mr Nassim Amer, Director of International Cooperation, Algeria as saying:
“These deals reflect Afreximbank’s steadfast commitment to investing in Africa’s creative industries, key drivers of economic growth and employment on the continent, particularly for women and young people.”
Amer said CANEX presented a wonderful opportunity for African creators and innovators as it exposed them to the continent beyond their national borders and further accelerated the vision for the African Continental Free Trade Area (AfCFTA’s) intra-African trade agenda.
Musumba said the four-day event, which was held from Oct. 16 to Oct. 19, convened 108 exhibitors, 11 masterclasses and close to 4,000 attendees from across 81 countries in Africa, the Caribbean and the diaspora.
He said the event featured creatives, industry leaders, and policymakers.
Musumba said participants enjoyed a rich and varied programme of activities, which included live performances, masterclasses, panel discussions, and showcases across sectors such as fashion, music, sports, film, visual arts, and gastronomy.
“ As this year’s edition closes, focus now shifts to the 4th edition of the Intra-African Trade Fair (IATF) to be held from Sept. 4 to Sept. 10, 2025 in Algiers.
“It is expected to attract some 35,000 participants from around the world, offering a new backdrop for the continued expansion and celebration of Africa’s creative industries.”
Musumba quoted Mrs Kanayo Awani, Executive Vice-President for Intra-African Trade and Export Development, Afreximbank as saying:
“We commend the Government of the People’s Democratic Republic of Algeria for their commitment to making CANEX WKND 2024 a success.
“ Local participation has been exceptional, setting an exciting stage for IATF 2025 in Algiers.
“CANEX WKND’s mission has always been to highlight the vast market opportunities within Africa’s creative industry and to nurture their economic potential.
“We are grateful for the partnerships and deals formed here, and we look forward to continuing this work of exposing our different creative prowess across Africa and the world,” she said.
Musumba said for the first time, CANEX WKND featured a Ministerial Roundtable.
“Ministers from Africa and the Caribbean supported by the African Union Commission and AfCFTA Secretariat, addressed the opportunities and challenges facing Global Africa’s cultural and creative industries (CCIs).”
He said the event also showcased key initiatives, including the CANEX Prize for Publishing in Africa, awarded to Cassava Republic Press for “Female Fear Factory” by Pumla Dineo Gqola.
Musumba said a film competition for young African and Diaspora filmmakers honoured three winners: Francis Y. Brown from Ghana for ‘Room – 5’ and Brian Obra from Kenya for ‘We Shall Not Forget’.
“Also Thomas Mpoeleng from Botswana for ‘Silent Screams.’
He said angel investors committed 350,000 dollars to support three creative businesses.
“Leading investor Moji Hunponu-Wusu pledged 250,000 dollars to Cameroonian designer Kibonen Nfi, with an additional 100,000 dollars from a consortium investing in pitches from Zimbabwean Pam Samasuwo-Nyawiri and Thulani Ngazimbi, as well as Kibonen Nfi.”(NAN)
A.I
Oct. 29, 2024
Tags: Afreximbank Mr Vincent Musumba Pumla Dineo Gqola.
