By Khalifa Hemed
Published November 5, 2024
The second edition of the Creative Africa Nexus Weekend (CANEX WKND 2024) which brought together 108 exhibitors, 11 masterclasses and close to 4000 attendees from across 81 countries in Africa, the Caribbean and the Diaspora has drawn to a close in Algiers, Algeria, with 540 Million Dollars in deals committed.
The four-day event that featured artists, industry leaders and policymakers presented live performances, masterclasses, panel discussions and showcases across sectors such as fashion, music, sports, film, visual arts and gastronomy.
“We commend the Government of the People’s Democratic Republic of Algeria for their commitment to making CANEX WKND 2024 a success. Local participation has been exceptional, setting an exciting stage for IATF 2025 in Algiers. CANEX WKND’s mission has always been to highlight the vast market opportunities within Africa’s creative industry and to nurture their economic potential. We are grateful for the partnerships and deals formed here, and we look forward to continuing this work of exposing our different creative prowess across Africa and the world,” Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development with Afreximbank, said.
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Among CANEX WKND 2024’s most significant outcomes were deals totaling US$540 million that were facilitated and agreed. Key among these was a EUR245 million global facility agreement with New World Television (NWTV) to part-finance the network’s acquisition of media licensing rights for sports broadcasting across 24 African countries. In addition, Afreximbank announced US$3 million facility with Mediwood Studios, designed to support the company’s efforts to expand the Tunisian film industry, further positioning the country as a hub for creative production.
Nassim Mohan Amer, Algeria’s Director of International Cooperation, noted that CANEX presented a wonderful opportunity for African creators and innovators as it exposes them to the continent beyond their national borders and further accelerates the vision for intra African trade agenda.
Ismail Inezarene, Algeria’s Director of Cultural and Artistic Promotion, commended Afreximbank’s partnership with Algeria terming it as a collaboration ‘suited to the needs of the future of Africa – the youth’.
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Participants engaged in wide-ranging discussions and collaborations on pivotal topics — from intellectual property rights and market access to the need for policy and regulatory reforms that accelerate the growth of Africa’s creative sectors. The event also provided a platform for capacity building through technical programmes and networking opportunities, enabling African creatives to access new global markets and leverage new partnerships.
CANEX Weekend also featured a Ministerial Roundtable, where Ministers from Africa and the Caribbean supported by African Union Commission, African Continental Free Trade Area Secretariat addressed the opportunities and challenges facing Global Africa’s cultural and creative industries (CCIs). The leaders underscored the economic and cultural value of CCIs, particularly for African and Caribbean youth. The roundtable advanced CANEX strategies to mobilize financing, enhance CCI growth, and foster policy-stakeholder collaboration for implementing the AU Plan of Action on CCIs.
CANEX WKND 2024 also showcased key initiatives, including the CANEX Prize for Publishing in Africa, awarded to Cassava Republic Press for Female Fear Factory by Pumla Dineo Gqola. Praised for its impactful cover, elegant layout, and feminist insights, the book powerfully examines patriarchal violence and offers a hopeful feminist perspective.
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CANEX Shorts, a film competition for young African and Diaspora filmmakers, honoured three winners: Francis Y. Brown from Ghana for Room – 5, Brian Obra from Kenya for We Shall Not Forget, and Thomas Mpoeleng from Botswana for Silent Screams. Selected from 147 entries, each winner received a cash prize.
In a “CANEX Presents the Angels” pitch session, angel investors committed US$350000 to support three creative businesses. Leading investor Moji Hunponu-Wusu pledged US$250000 to Cameroonian designer Kibonen Nfi, with an additional US$100000 from a consortium investing in pitches from Zimbabwean Pam Samasuwo-Nyawiri and Thulani Ngazimbi as well as Kibonen Nfi.
