Afreximbank Doubles Funding Facility for Creative, Cultural Industries to $1bn

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President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), Prof. Benedict Oramah has announced a funding package of $1 billion dedicated towards supporting Africa’s creative industries under the auspices of the CANEX programme.

The Creative Africa Nexus Weekend (CANEX WKND) held recently brought together the largest gathering for the cultural and creative industries in Africa and the Diaspora in Abidjan, Côte d’Ivoire.

According to a statement yesterday, Oramah announced the funding at the opening of the three-day event.

In 2020, Afreximbank introduced a dedicated $500 million facility to support Africa’s creative and cultural industry as part of its wider CANEX programme.

The bank has been able to support the industry significantly through this facility which is now nearly fully utilised.

Oramah indicated that the doubling of the size of the facility to $1 billion, for implementation over the next three years to 2025, would…



Source: Thisday Newspaper