The Minister of Arts, Culture, and the Creative Economy Barrister Hannatu Musa Musawa, Wednesday announced securing a $200 million financing facility with the African Export-Import Bank (Afrexim Bank).
The facility is to support the growth of the country’s creative industries.
Musawa in a statement by her media aide, Dr. Nneka Ikem Anibeze said partnership with the African Export–Import 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.
President and Chairman of Afreximbank, Professor Benedict Oramah who announced the partnership in New York stated that the $200 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.
“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 in an amount of 200 million US dollars to support new laudable initiatives in support of the creative and cultural industries.
We are impressed by the commitment and passion of the Ministry and the alignment with Afreximbank creatives strategy. We hope that we can work together to entrench this fully and use it to support the industry in a way that boosts pan-African cross-country partnership,” he said.