CANEX WKND 2026: Africa’s creative economy is growing. Can its institutions keep up?

At CANEX WKND 2026, it’s clear as day that Africa’s creative economy is growing. It is now increasingly being treated as a viable economic sector, rather than a collection of hobbies pursued by talented individuals. The more difficult task is building the systems that allow that growth to endure.

On day 2 of the CANEX WKND 2026 gathering in Lagos, Nigerian politician and businessman Ben Murray-Bruce offered a striking observation about the influence of the creative industry: “The creative industry is powerful. If Davido could elect his uncle, that shows you the power of the creative industry.” 

The remark draws on the considerable political influence Afrobeats star Davido has exercised in the electoral fortunes of his uncle, Ademola Adeleke, Governor of Osun State in southwestern Nigeria. 

Davido was a prominent figure in Adeleke’s 2022 campaign and took an even more formal role in his 2026 re-election bid, chairing the youth mobilisation campaign council. The August 2026 election was fiercely contested, with Adeleke eventually defeating his closest challenger by just over 66,000 votes. 

Although an election outcome cannot be attributed to one individual, Davido’s involvement demonstrated how an entertainer’s popularity, public reach and ability to mobilise audiences can extend into the political sphere.

Murray-Bruce’s humorous observation points to a larger reality: African creatives increasingly shape public conversations, command audiences, move markets and influence outcomes well beyond entertainment.

CANEX sets the stage

The scale of CANEX WKND offers a visible demonstration of that influence. The gathering brought together an impressive mix of political leaders, financiers, cultural figures and industry professionals. 

Among the notable attendees were Vice President Kashim Shettima, Lagos State Governor Babajide Sanwo-Olu, Nobel Laureate Professor Wole Soyinka, Genevieve Nnaji, Uzo Aduba, Bankole Wellington, Richard Mofe-Damijo, Funke Akindele, Thuso Mbedu, Gugu Zuma-Ncube, Dare Art Alade, Dakore Egbuson-Akande, Daniel Oriahi, Asa Asika and Obi Asika.

Beyond the star power, however, the gathering points to a more consequential development: Africa’s creative economy is increasingly being treated as an economic sector requiring investment, infrastructure and institutional support, rather than a collection of hobbies pursued by talented individuals.

That shift was evident during the session, “Creating Global Stories Without Diluting Culture”. Although framed around storytelling, the conversation extended across literature, film and music. 

A recurring argument was that African stories must first speak to African audiences, while remaining conscious of the international markets and audiences they may eventually reach. Global ambition, in this framing, need not come at the expense of cultural identity.

But reaching those audiences requires more than compelling stories. It requires publishing houses capable of negotiating international rights, distribution networks that can move African films beyond their domestic markets, financing structures that allow musicians and filmmakers to retain ownership of their work, and platforms that connect creators with audiences willing to pay for what they produce. 

Cultural visibility is valuable, but visibility does not automatically translate into economic returns for the people creating the work.

Collaboration emerged as another important theme. The creative industries do not operate in isolation: fashion designers can build alongside musicians, musicians can work with filmmakers, and writers can find new audiences through partnerships across different creative disciplines. Such connections can expand commercial opportunities while creating richer cultural experiences. 

However, collaboration needs to extend beyond occasional cross-industry appearances. It requires sustained partnerships, shared resources and commercial arrangements that distribute value fairly among participants.

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Institution-building

The need for African-led institutions and platforms was particularly apparent in discussions about film festivals. Serge Noukoue, Co-founder and Executive Director of NollywoodWeek Paris, explained that the festival was established partly in response to the elitist atmosphere associated with some existing film festivals. 

Rather than simply criticising an arrangement that felt exclusionary, Noukoue chose to create an alternative. The initiative was not an argument against standards, but an attempt to build a platform with a different sense of accessibility and purpose.

The example reflects a broader challenge facing African creative industries: the need to build institutions that understand local realities, serve local talent and retain greater value within the continent. International partnerships remain important, but sustainable growth cannot depend entirely on external validation or intervention.

Afreximbank’s commitment to this ambition is reflected in its decision to endow CANEX with $2 bn to support Africa’s creative and cultural industries. The funding spans a broad range of sectors, including fashion, sport, film, music, literature, gastronomy, and arts, crafts and design. 

The scale and breadth of the endowment signal an institutional recognition that the creative economy cannot be developed by supporting only its most visible or commercially established segments. 

It also raises an important question about implementation: how will this capital reach the businesses, independent creators and cultural institutions that need it, and what mechanisms will ensure that the investment translates into sustainable growth across the continent?

The bank’s wider engagement with the African diaspora and the Caribbean forms another part of its international economic strategy. 

In an interview with Jérémie Suchard of Forbes Afrique, Temwa Gondwe, Afreximbank’s Director of Creative Industries and Diaspora, discussed the bank’s expanded financial commitment to the Caribbean Community, its Africa-Caribbean Trade and Investment Forum and the Global Africa Gateway initiative, developed with the Africa Center in New York. 

These initiatives seek to strengthen trade, investment and business connections between Africa, the Caribbean and the diaspora. While distinct from the $2 bn CANEX endowment, they illustrate the wider ambition to build economic relationships across regions with shared historical and cultural ties.

Hosting CANEX WKND provides Nigeria with an opportunity to demonstrate its creative capacity and strengthen its position as a meeting point for African commerce and culture. Read more >>>>>

The apparent contradictions

There is, however, a contradiction within Lagos’s own creative ecosystem. CANEX WKND is taking place alongside AFRIFF, Lagos Fringe, and Art X Lagos, with each event drawing audiences, industry professionals and cultural stakeholders. 

The concentration of creative activity is an encouraging sign of the city’s cultural vitality. But simultaneous programming also makes it difficult for audiences to participate fully across events. More importantly, it raises questions about why organisations advocating collaboration across the creative industries do not coordinate their calendars more deliberately.

The issue is not that every event must share a programme or audience. Rather, greater coordination could create opportunities for cross-promotion, shared audiences, stronger industry networks and a more unified cultural calendar. 

It could also make Lagos a more coherent destination for visiting filmmakers, artists, investors and cultural professionals. An ecosystem cannot fully realise the benefits of collaboration if its institutions continually compete for the same limited pool of attention and participation.

CANEX WKND has demonstrated the scale of Africa’s creative ambitions and the growing recognition of the sector’s economic potential.

But a crowded gathering, prominent attendees and ambitious declarations are only the visible parts of a much larger undertaking. The real measure of progress will be what happens beyond the conference rooms: whether creative businesses gain access to capital, whether African intellectual property generates sustainable returns for its owners, whether distribution networks improve, and whether institutions can work together to strengthen the markets they serve.

Africa’s creative economy is growing. The more difficult task is building the systems that allow that growth to endure.

CANEX WKND 2026 should be understood as more than a colourful gathering of artistes, performers and entrepreneurs. It presents an opportunity to rethink how Africa organises, finances and commercialises its creative industries. Read more