Africa’s creative and cultural industries are being hailed as powerful engines for trade, investment and inclusive growth. At the opening of the Creative Africa Nexus (CANEX) Summit in Algiers—held alongside the Intra-African Trade Fair 2025—leaders and policymakers called for stronger financing, infrastructure and supportive policies to unlock the sector’s full potential.
AfCFTA Secretary General Wamkele Mene noted that the creative economy, already valued at more than $50 billion and employing millions, could play a central role in Africa’s industrial revolution. “The creative industries are absolutely essential to driving innovation, competitiveness and development,” he told delegates.
African Union Commissioner Amma Twum-Amoah echoed that sentiment, stressing that music, film, fashion and digital art are no longer on the margins of the economy. Instead, they are reshaping identity, advancing social justice, and amplifying Africa’s global influence. “The creative industries are central to our resilience and growth,” she said.
The diaspora was also represented. Bahamas Minister Ginger Moxey reminded participants that culture is both identity and power. “It is one of the most powerful tools our nations possess to transform economies, strengthen unity and inspire generations,” she told the gathering.
To address funding challenges, Afreximbank’s Kanayo Awani announced the creation of CANEX Creations Incorporated, a new vehicle to monetise African intellectual property. She explained that equity financing, rather than traditional debt, offers the flexibility creative businesses need to grow, while also opening doors for long-term investment across the entire value chain.
The CANEX Summit—co-hosted by Afreximbank, the African Union Commission and the AfCFTA Secretariat—is the largest gathering of creatives from Africa and the diaspora. With IATF2025 expected to generate over $44 billion in trade and investment deals, the event highlights the creative economy’s potential within AfCFTA’s single market of 1.4 billion people and a combined GDP of $3.5 trillion.
