Destination 2030: Nigeria’s creative economy gets $200m Afreximbank boost
05 October 2024 |
3:02 am
The Nigerian creative economy has received a boost with a $200 million financing facility from the African Export-Import Bank (Afrexim Bank) to support the growth of the creative industries.
The Nigerian creative economy has received a boost with a $200 million financing facility from the African Export-Import Bank (Afrexim Bank) to support the growth of the creative industries.
Minister of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, who secured the financing facility said the partnership with the Afrexim Bank is a crucial component of the Destination 2030 vision and one of the ministry’s ambitious goals for the creative economy.
She emphasized the critical role of global partnerships in driving the country’s vision forward, stating that Destination 2030: ‘Nigeria Everywhere’, is the Ministry’s roadmap to transforming Nigeria into a global cultural powerhouse and called on more stakeholders to invest in the vision.
“To fully realise this vision, I urge investors, development partners, and global collaborators to join us in creating 2 million jobs and contributing $100 billion to the national GDP,” the Minister said.
Earlier, the President and Chairman of Afreximbank, Professor Benedict Oramah who announced the partnership in New York stated that the $200m facility is to support the Ministry’s new initiatives for sustainable economic growth. He emphasized the importance of investing in the creative industries and positioning Africa as a global cultural leader.
His words: “The Bank has deployed the Creative Africa Nexus (CANEX) Programme to enhance Africa’s share of global trade in creatives and cultural products by offering tailored financial solutions, facilitating technical capacity building, and opening avenues for market access for creative entrepreneurs.”
“It is for this reason that we are pleased to be working with the Federal Ministry of Arts, Culture and the Creative Economy, to put in place a financing facility of an amount of 200 million US dollars to support new laudable initiatives in support of the creative and cultural industries.
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