His Excellency Abdelmadjid Tebboune, President of the People’s Democratic Republic of Algeria, receives Professor Benedict Oramah, President of African Export-Import Bank (Afreximbank) during a courtesy call ahead of CANEX WKND 2024 Algiers, 16 October 2024 – The Creative Africa Nexus Weekend (CANEX WKND) 2024, a flagship initiative by African Export-Import Bank (Afreximbank) kicked off today, Wednesday 16 October 2024, marking a pivotal and significant moment for the cultural and creative industries in Global Africa. Ahead of the official opening, the President and Chairman of Board of Directors at Afreximbank, Professor Benedict Oramah, met with the President of the People’s Democratic Republic of Algeria, His Excellency Abdelmadjid Tebboune to brief him of the event, its objectives and its significance in Algiers, Algeria. Afreximbank’s CANEX WKND 2024, happening between 16th to 19th October, promises to rank among Africa’s most significant cultural and economic gatherings of 2024, with the potential to further advance and expand Africa’s unrivalled creative and cultural industries, with the aim of implementing pan-African measures that support the continent’s cultural sectors. Leading figures from the worlds of visual art, music, cinema, film, fashion, and gastronomy are gathering in Algeria for the four-day event, organised around the theme “One People, United in Culture, creating for the world”. Commenting on the event, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank Mrs. Kanayo Awani stated: “It is with great honour and privilege that I join our host the Algerian government to welcome you to the CANEX WKND 2024, a global platform for celebrating African creativity, its young and dynamic talents, innovation and drive.” She continued, “At Afreximbank, we see enormous opportunities for the creative industries growth because, globally, the creative industry is fast becoming a potent economic force across most economies and it is our firm belief that the CANEX initiative represents a powerful medium to realise Aspiration Five of Africa’s Agenda 2063.” While highlighting Afreximbank’s role in supporting and strengthening Africa’s creative industries, Mrs. Kanayo Awani announced that the Bank has increased the funding allocated to the creative industry to USD $1 billion from the USD $500 million US dollars announced in 2022. This decision, she said, reflects the growing demand for financing in the industry. Currently, the Bank has a robust pipeline of creative deals of over 600 million US dollars in investments spanning film, music, visual arts, fashion, and sports. “Afreximbank has been busy supporting various activities in the creative industry. In 2023, Afreximbank financed its first feature film, which premiered at the prestigious Toronto Film Festival. In sports, Afreximbank financed the construction of the Houphouet Biogny Sports Stadium in Abidjan, Côte d’Ivoire, which hosted some of the most memorable moments of the African Cup of Nations earlier this year. And in music, Afreximbank launched the CANEX Music Factory, which has facilitated the production of 32 original songs, with a 12-track album set to be released on major platforms such as iTunes and Spotify this November.” For more information on CANEX WKND 2024: Media Contact: Mr Vincent Musumba Manager, Communications and Events (Media Relations) Email: press@afreximbank.com About Afreximbank African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

Prof. Benedict Oramah, President and Chairman of Board of Directors, Afreximbank engages the media in Algeria on the sidelines of CANEX WKND 2024. He is accompanied by Hon. Soraya Mouloudji, Minister of Culture and Arts, Algeria Algiers, 18 October 2024 – President and Chairman of the Board of Directors of Afreximbank, Professor Benedict Oramah, has announced that Afreximbank will increase its funding to the Creative Africa Nexus (CANEX) programme from $1 billion to $2 billion for the next three years. The announcement was made during the CANEX WKND 2024 opening ceremony in Algiers, Algeria, and underscores the Bank’s dedication to Africa’s growing creative economy.   The decision to double CANEX funding arises from a marked surge in demand across Africa’s creative sectors. Since 2022, Afreximbank has seen a significant increase in opportunities within industries from film production and music to fashion manufacturing and sports. With the newly increased $2 billion fund, Afreximbank aims to fulfil these verticals’ growing needs by providing infrastructure, financing, and other resources that will help Africa’s creative industries flourish on a global scale.  Professor Oramah observed that this expansion marks a historic progression in Afreximbank’s strategy to support the creative economy – from the Bank’s initial commitment of $500 million to the sector when CANEX launched in 2020. That figure, the President noted, increased to $1 billion in 2022 to satisfy demand. This upward trend reflects Afreximbank’s profound belief in the power of African creativity to drive economic growth and generate employment.  Commenting on the funding decision, Prof. Oramah said:  “As with many things in Africa, opportunities in the African creative industries abound but remain untapped. This is why Afreximbank has adopted a proactive approach to catalysing the industry. Today, I am pleased to announce a further doubling of our creative industry finance window to 2 billion US dollars for the next three years. This will enable us to support significant infrastructure investments for film production, stadia, arenas, manufacturing facilities for fashion, and training centres.” The new funding will primarily focus on infrastructure development, which remains a key challenge in the creative sectors. Afreximbank plans to invest in film production facilities, music arenas, sports stadiums, and fashion manufacturing hubs across the continent. These projects aim to equip African creatives with the necessary tools and spaces to produce content and goods that can compete internationally.  Moreover, the fund will also support talent development. Afreximbank’s goal is to help nurture and train African creative professionals to international best-standards, ensuring they have the skills and resources to thrive.  Afreximbank also recognizes the need for innovative financing solutions tailored to the unique challenges of the creative economy. In response, the Bank is developing a $500 million private equity film fund through its impact equity arm, Fund for Export Development in Africa (FEDA). This initiative will finance film production and distribution, giving African filmmakers access to critical resources for creating content that can attract global audiences.  Another focus area for the Fund will be the fostering of collaborations between Africa and the Diaspora. The viability of this model has been demonstrated by partnerships such as that between African musicians and global artists like the Afro-Brazilian band OLODUM, which led to the production of the acclaimed “ONE Drum” EP. The expanded fund will enable more collaborations of this kind, amplifying African cultural expression and visibility on the global stage.   For more information on the fund:   Media Contact:  Mr Vincent Musumba  Manager, Communications and Events (Media Relations)  Email: press@afreximbank.com  About Afreximbank  African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt. 

Algiers, 24 October 2024 – Afreximbank’s CANEX Prize for Publishing in Africa, a partnership between the CANEX Book Factory and the Narrative Landscape Press Limited announced Cassava Republic Press, Nigeria as its inaugural winner for the 2024 CANEX Prize for Publishing in Africa. The award, which celebrates excellence in African publishing, recognised Cassava Republic Press for their book Female Fear Factory: Unveiling Patriarchy’s Culture of Violence by Pumla Dineo Gqola. The book was recognised for its striking cover design, elegant layout, and reader-friendly text. It was also lauded for its imaginative approach to gender issues, offering a compelling contribution to feminist literature. Female Fear Factory explores how patriarchal society fosters violence against women, providing both a sobering account of this violence and a hopeful vision for the work of feminists worldwide. The award, which included a $20,000 prize, was presented at CANEX WKND 2024 in Algiers, Algeria, during a dinner hosted by the Honourable Soraya Mouloudji, Algeria’s Minister of Culture and Arts. The CANEX Prize for Publishing in Africa, launched in Cairo in November 2023 on the sidelines of the Intra African Trade Fair (IATF2023), aims to promote a vibrant literary culture across Global Africa and foster a sustainable business ecosystem in the literary sector. CANEX, initiated by Afreximbank in 2020, serves as a key driver for development and job creation in Africa, recognising the opportunities within the creative and cultural industries. The award evaluates entries based on the quality of writing, editing, and production, with particular emphasis on books printed and produced in Africa, as well as those published in indigenous African languages. This year, 85 entries were received from 49 publishers across Africa, representing a diverse range of languages, including English, French, Portuguese, and Swahili. From these submissions, the prize administrators selected five finalists for their exceptional work. The finalists included: The awards were presented to the finalists by Honourable Mouloudji and Mrs. Kanayo Awani, Executive Vice President of the Intra-African Trade Bank at Afreximbank. Speaking at the award ceremony, the Chair of The Judges, Dr Wale Okediran said; “In line with our mandate to ‘judge the book as a physical object while also paying attention to its editorial work, including topical relevance and editorial risk’, the judges recognised the selected books as having met the required standard of ‘exceptional work and professionalism.” The CANEX Prize for Publishing in Africa rewards the best trade book publishers in Africa. A prize of $20,000 is awarded to the publisher – selected from a shortlist of five (5) finalists – of the best trade book (defined as books published for a general audience, including fiction, non-fiction, and poetry; and excluding textbooks and academic books) published in the year in question. Additionally, the remaining four (4) finalists in the shortlist are awarded the amount of $2,000 each. Media Contact Vincent Musumba Communications and Events Manager (Media Relations) Email: press@afreximbank.com ENDS About Afreximbank African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt. For more information, visit: www.afreximbank.com Follow us on Twitter |Facebook | LinkedIn |   About Narrative Landscape Narrative Landscape Press, founded in 2016 by Anwuli Ojogwu and Eghosa Imasuen, is dedicated to distilling the essence of the publishing process and providing comprehensive services to other publishing houses and self-publishing authors within Nigeria. Their mission is to own the means of production, encompassing not just the printing of physical books, but also editorial and book design expertise. They strive to develop a cadre of excellent writers and have successfully ventured into traditional publishing, with notable acquisitions such as the works of Chimamanda Ngozi Adichie. Their vision is to continue expanding their reach and impact within the literary community on the African continent.