Afreximbank and government host the African creative industries fair from 25 to 27 November

(Ecofin Agency) – According to the OECD, creative industries generate 2.25 trillion dollars and 3% of world GDP per year. The sector employs 30 million people. However, 93% of these revenues are generated in Asia, Europe and North America. Africa and the Middle East generate only $ 58 billion according to UNESCO.

In Côte d’Ivoire, Afreximbank (African Export-Import Bank) and the government are organizing the Canex Wknd, a 3-day exhibition dedicated to the creative and cultural industries, from 25 to 27 November at the Sofitel. The information was communicated to the Ecofin Agency by the organizers on 2 August. The event will allow participants, composed of actors, African and diaspora, from the music, cinema, fashion, video games and virtual reality sectors, to present their work to potential partners and buyers from all over the world. .

Canex Wknd announces, in addition to its content market, numerous panels and workshops with the aim of broadening the participants’ point of view on their respective sectors and on the means to make them thrive on the continent. The event has an important place in the continuation of Afreximbank’s Creative Africa Nexus (CANEX) program. This is an initiative that aims to connect African creative industries and promote culture to generate more revenue on the continent.

The economic impact of culture is of particular concern to Afreximbank, which made it the main topic of the 2022 edition of its annual African trade study, the African Trade Report. The study shows in particular the economic potential of creative industries and the impact they can have on the development of African countries. This interest of a banking institution in the creative industries should delight the players in these sectors who felt that banks were wrong not to care more.

“The African banking sector does not know what it is that the audiovisual sector and the banks refuse to finance audiovisual projects. They don’t view production in the same way as other companies. Loans are not obtained for filming, not even guaranteed by a state contract or a contract from a large company “complained Alain Modot, head of the African audiovisual content distributor DIFFA in an interview with the Ecofin Agency.

Canex Wknd confirms that a change is underway in banking institutions’ view of creative industries. In addition, the initiative makes it possible to add an event to the circuit of African creative content markets, such as Discop Africa and Imageson, which are very affected by the pandemic.

Servant Ahougnon

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