CANEX WKND 2024 in Algiers Spurs $540M in Creative Industry Deals, Sets Stage for IATF 2025

As the weekend drew to a close, CANEX WKND 2024 celebrated Africa’s creative power and laid the groundwork for IATF 2025 in Algiers, promising to build upon this success.

The second Creative Africa Nexus Weekend (CANEX WKND 2024) concluded with resounding success in Algiers, Algeria, celebrating African creativity and sparking over $540 million in investments across Africa’s creative industries. This vibrant, four-day event gathered nearly 4,000 attendees, including creatives, industry leaders, and policymakers, from 81 countries across Africa, the Caribbean, and the diaspora. Participants enjoyed a rich lineup of activities, including live performances, masterclasses, panel discussions, and showcases spanning fashion, music, sports, film, visual arts, and gastronomy, solidifying CANEX as a cornerstone event for Africa’s cultural and creative economy.

In her closing address, Mrs Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, expressed gratitude to the Algerian government for its commitment to CANEX WKND 2024. “Local participation has been exceptional, setting an exciting stage for IATF 2025,” she remarked, underscoring CANEX WKND’s role in spotlighting Africa's diverse creative talents and unlocking economic potential across the continent.

Among the event’s most impactful outcomes was a EUR 245 million global facility deal with New World Television (NWTV), which will facilitate the acquisition of sports media licensing rights across 24 African nations. Additionally, Afreximbank announced a $3 million agreement with Mediwood Studios to expand the Tunisian film industry, further positioning the country as a center for creative production. These agreements highlight Afreximbank’s ongoing support for Africa’s creative industries, sectors crucial to job creation and economic growth across the continent, especially for young people and women.

Reflecting on the event’s achievements, Mr. Nassim Mohan Amer, Director of International Cooperation in Algeria, emphasized CANEX’s role in breaking down borders and enabling African creators to explore markets beyond their national confines. “This event advances the vision of the African Continental Free Trade Area (AfCFTA) for intra-African trade,” he said, noting that Algeria’s experience hosting CANEX WKND will enrich its preparations for the 4th edition of the Intra-African Trade Fair (IATF) in September 2025, expected to attract over 35,000 participants from around the globe.

Throughout the event, CANEX WKND highlighted pressing issues within Africa’s creative industries, hosting discussions on intellectual property rights, market access, and policy reform to drive sector growth. Key stakeholders engaged in technical programs designed to empower African creatives to expand their global reach and forge valuable partnerships, aligning with CANEX WKND’s broader mission to stimulate economic growth through the creative industries.

A milestone this year, CANEX WKND’s first Ministerial Roundtable gathered African and Caribbean ministers alongside leaders from the African Union Commission (AUC) and the AfCFTA Secretariat. Speeches by prominent figures, including Amb. Minata Samate Cessouma of the AUC and H.E. Wamkele Mene, Secretary General of the AfCFTA Secretariat, emphasized the value of cultural and creative industries (CCIs) in Africa and the Caribbean, particularly in job creation for youth. This roundtable sought to mobilize investment, advance CCI growth, and enhance collaboration between policymakers and industry stakeholders for effective implementation of the African Union’s Plan of Action on CCIs.

CANEX WKND 2024 celebrated African achievements across various creative fields, introducing the CANEX Prize for Publishing in Africa, awarded to Cassava Republic Press for Female Fear Factory by Pumla Dineo Gqola. This publication, recognized for its impactful cover design and insightful feminist perspectives, sheds light on patriarchal violence and offers a hopeful vision for feminist progress.

Young filmmakers also took centre stage in the CANEX Shorts competition, where three winners — Ghana’s Francis Y. Brown for Room – 5, Kenya’s Brian Obra for We Shall Not Forget, and Botswana’s Thomas Mpoeleng for Silent Screams — were honoured from 147 entries. Each winner received a cash prize, encouraging continued creativity and storytelling in Africa’s film sector.

In a boost for budding entrepreneurs, CANEX WKND’s “CANEX Presents the Angels” pitch session secured $350,000 from angel investors, led by Moji Hunponu-Wusu’s $250,000 commitment to Cameroonian designer Kibonen Nfi. A further $100,000 was allocated to promising pitches from Zimbabwean Pam Samasuwo-Nyawiri, Thulani Ngazimbi, and Kibonen Nfi, demonstrating CANEX’s tangible support for emerging creative ventures.

As the weekend drew to a close, CANEX WKND 2024 celebrated Africa’s creative power and laid the groundwork for IATF 2025 in Algiers, promising to build upon this success. “Our goal is to strengthen Africa’s creative industries, boost trade, and position Africa as a global cultural leader,” noted Mr Ismail Inezarene, Director of Cultural and Artistic Promotion, Algeria, looking ahead to IATF 2025 as a new milestone in fostering Algeria-Africa trade and creative collaboration.