The Executive Vice President of African Export-Import Bank (AFREXIMBANK), an Egyptian private banking company, has announced a potential $5 billion investment in creative industries, potentially creating 20 million job opportunities across Africa. She emphasized the importance of the Creative Africa Nexus (CANEX) in exploring new opportunities for African brands and creative industries, acknowledging the profitability of creativity. She highlighted challenges such as financing difficulties, intellectual property issues, digital communication gaps, and infrastructure limitations, underscoring the need for collaboration between governments and the private sector. The CANEX program aims to establish a unified definition of the creative economy, showcase African talent globally, and prioritize skills development, entrepreneurship, and investment in creativity.
The Creative African Nexus program serves as a collaborative space for creators from diverse backgrounds, connecting local and international audiences while celebrating African creativity. In addition, a joint financing fund for African filmmakers, directors, and producers, both on the continent and in the diaspora, is set to launch in 2024. This initiative is designed to bolster the global presence of Africa's film industry. The bank's support for short filmmakers will be evident during the exhibition, with prizes awarded to showcased film winners, reflecting the bank's commitment to nurturing creativity and talent.