Calls to nurture Africa’s creative and cultural industries as a frontier for economic growth

Algiers, 06 September 2025 - The creative and cultural industries in Africa and the Diaspora have been singled out for their potential to deliver immense economic benefits to the continent by driving industrialisation, trade, investment and inclusive development.

Speakers at the official opening ceremony of the Creative Africa Nexus (CANEX) Summit called for support to the industries, in the form of infrastructure, financing and policies to unlock this potential. The Summit is being held as part of the ongoing Intra-African Trade Fair 2025 (IATF2025)

The Secretary General of the AfCFTA Secretariat, H.E. Wamkele Mene said that the creative industry, which is valued at over $50 billion and employs millions across the continent, could be one of the drivers of Africa's industrial revolution.

"We see the role of the creative industries as absolutely essential to achieving our industrial development objectives through the innovation, creativity, and also, the competitiveness and the spirit of our creative industry," H.E. Wamene added.

The Commissioner for Health and Humanitarian Affairs and Social Development at the African Union Commission, H.E. Amma Twum-Amoah called for strong national policies to support African creators, and open markets for cultural and creative industries to contribute fully to economic growth.

"The creative industries are no longer peripheral. They are central to Africa's development, resilience and global influence. From fashion to film, music to digital art, our creators are rewriting narratives, reclaiming identity and redefining what it means to be an African in the 21st century. Africa's creative economy is not a dream. It is a reality unfolding before our eyes. And with the right support, it will become one of the most powerful tools we have to advance public health, social justice and sustainable development," H.E. Twum-Amoah added.

The Minister of Grand Bahama, Hon. Ginger Moxey noted that creative industries have potential to more significantly contribute to our GDP, transform economies, create jobs, shape global markets, and inspire future generations.

"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. The creative and cultural industries, music, film, fashion, visual arts, literature, photography, gastronomy, sports and more, shape how the world engages with Africa and its diaspora. These industries drive our narratives, fuel economic growth and global influence," Hon Moxey added.

The Executive Vice President, Intra-African Trade and Export Development at the African Export-Import Bank (Afreximbank), Mrs. Kanayo Awani noted that the creative economy is one of Africa's most promising drivers of trade, jobs, and investment; and is the new mainstream of global commerce, increasingly powered by digital tools and artificial intelligence.

"One of our key milestones is the launch of CANEX Creations Incorporated, an institution created to monetise African intellectual property through equity and venture capital. We know that creative businesses don't always fit traditional debt models. Their revenue cycles are non-linear, and their assets are often intangible. That's why equity is an effective tool. It gives flexibility, patience, and attracts private capital. 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," Mrs Kanayo added.

The CANEX Summit is billed as the largest gathering of creatives from Africa and the Diaspora. The weeklong summit has convened continental and global players to showcase and exhibit their goods and services, and to explore business and investment opportunities within the rapidly expanding creative economy. It is being held as part of IATF2025, hosted by the People's Democratic Republic of Algeria and co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat. The weeklong event is projected to facilitate trade and investment deals worth over US$44 billion.

IATF is a platform for businesses to showcase their goods and services to visitors and buyers while exploring opportunities and exchanging information. IATF aims to tap into opportunities from AfCFTA's single market of over 1.4 billion people and GDP of over US$3.5 trillion. The ongoing IATF2025 is its fourth edition with the last three editions of IATF cumulatively generating over $118 billion in trade and investment deals and attracting more than 70,000 visitors and 4,500 exhibitors.

. For more information, please visithttps://www.intrafricantradefair.com.

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About the Intra-African Trade Fair

Organised by African Export-Import Bank (Afreximbank), African Union Commission (AUC) and African Continental Free Trade Area (AfCFTA) Secretariat, the Intra-African Trade Fair (IATF) is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Agreement (AfCFTA). IATF brings together continental and global players to showcase and exhibit their goods and services and to explore business and investment opportunities in the continent. It also provides a platform to share trade, investment and market information with stakeholders and allows participants to discuss and identify solutions to the challenges confronting intra-African trade and investment. In addition to African participants, the Trade Fair is also open to businesses and investors from non-African countries interested in doing business in Africa and in supporting the continent's transformation through industrialisation and export development.

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