Get Guardian on GoogleVice President, Kashim Shettima has urged African governments to remove barriers to trade within the continent to enable creative products, particularly films, to circulate freely across African markets and generate greater economic benefits.
Shettima, who spoke at the opening ceremony of the Creative Africa Nexus (CANEX) WKND 2026 in Lagos, said Africa’s creative industry had become an important economic infrastructure that required stronger policy support, intellectual property protection and investment to unlock its potential.
Declaring CANEX WKND 2026 open, he said Nigeria and other African countries must position their creative industries as important contributors to economic growth.
He described the creative economy as central to the Federal Government’s Renewed Hope agenda, stressing the need to strengthen intellectual property rights and position creativity as a viable trade sector.
He challenged creative professionals attending the event to turn the gathering into business opportunities rather than leave with only memories.
“To our creatives, do not leave Lagos with memories alone, but with a buyer’s handshake,” he said.
The Vice President noted that Africa’s growing population and youthful workforce presented opportunities for the continent to play a greater role in the global economy, particularly as other parts of the world faced ageing populations.
He expressed confidence in the ability of African creatives to fill emerging gaps in the global workforce and market, urging them to take pride in their culture, talents and heritage.
Shettima also acknowledged Afreximbank’s commitment of $2 billion to the creative industry, describing investment and policy support as important to the sector’s development.
Earlier, President and Chairman of the board of directors of the African Export-Import Bank (Afreximbank), George Elombi, said Africa generated about $60 billion from its creative industry but accounted for only two per cent of the global creative industry.
He expressed concern that despite the continent’s creative output, much of the economic value generated from its cultural products was retained outside Africa because ownership and proprietary rights were often held elsewhere.
Elombi said Afreximbank had invested $2 billion in the creative industry so far, adding that financing alone would not deliver the desired results without a functional ecosystem that allows creators to retain the value of their work.
He called for stronger intellectual property protection, harmonisation of copyright systems and improved mechanisms for registering, auditing and valuing creative assets.
According to him, African creators should be able to use their intellectual property and royalty earnings to access financing.
“A royalty no one can audit cannot be priced and financed,” he said.
Elombi said Afreximbank would not remain a spectator in the development of the sector but would serve as a banker to Africa’s creative industry and advocate cooperation among the different components of its ecosystem.
He added that the continent must focus on retaining more value from activities that generate the greatest returns, particularly branding and distribution.
Lagos State Governor, Babajide Sanwo-Olu, said his administration had recognised the creative sector as an important arm of government, providing opportunities for talents to develop and showcase their abilities.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, also stated that the creative industry had recorded growth over the past two decades, reflecting its increasing importance to Africa’s economic development.
