Creative Africa Nexus Weekend 2024: Uniting Global Africa's Creative and Cultural Industries in Algiers

CANEX WKND 2023 (L-R): Tade Ipadeola (Poet and Writer, Event Anchor), Anwuli Ojogwu (Managing Director, Narrative Landscape Press), Dr Eghosa Imasuen (Co-Founder, Narrative Landscape Press), Professor Benedict Oramah (Afreximbank President), Mrs Kanayo Awani (Executive Vice-President, Intra-African Trade & Export Development at Afreximbank), Chimamanda Ngozi Adichie (Novelist and Creative Director of the James and Grace Adichie Foundation), Mrs Chinelo Oramah, and Mr Stephen Kauma, (Group Managing Director, Human Resources at Afreximbank)

(Source: Afreximbank)

PRESS RELEASE

Creative Africa Nexus Weekend (CANEX WKND) 2024: Uniting Global Africa's Creative and Cultural Industries in Algiers

his groundbreaking event is scheduled to take place from October 16-19, 2024, at SAFEX in Algiers, Algeria

Access Multimedia Content

ALGIERS, Algeria, August 7, 2024/ -- African Export-Import Bank (Afreximbank) (www.Afreximbank.com), in partnership with the African Union Commission (AUC), the African Continental Free Trade Area (AfCFTA) Secretariat, and the Government of the People's Democratic Republic of Algeria, proudly announces the return of the Creative Africa Nexus Weekend (CANEX WKND) 2024. This groundbreaking event is scheduled to take place from October 16-19, 2024, at SAFEX in Algiers, Algeria.  CANEX WKND 2024 seeks to build on the success of previous events, most recently CANEX at IATF2023 that was held in Cairo. Last year’s edition brought together delegates from across the continent representing a wide range of creative sectors. The event featured over 21 live performances, 115 industry-leading speakers and experts, 13 masterclass sessions, and an awe-inspiring fashion show. Attendees also enjoyed a high-energy music concert, exciting gastronomical showcases and a vibrant marketplace and exhibition center.  CANEX WKND will further develop conversations and provide even more business to business/government opportunities through a 4-day gathering that will be held under the theme: One People, United in Culture, Creating for the World.  Mrs. Kanayo Awani, Executive Vice President Intra Africa Trade and Export Development stated, "CANEX WKND 2024 represents a pivotal moment for creative and cultural industries in Global Africa to showcase their talent and thrive. By bringing together diverse talents from across the continent and diaspora, we're not just showcasing creativity; we're not just showcasing creativity; we’re building a robust ecosystem that will propel African culture onto the global stage."  Highlights of CANEX WKND 2024 include:  CANEX Music Factory: Hundreds of songwriters and beatmakers will converge at the live recording studios within the heart of the CANEX Exhibition. This year's event will include the launch of an album featuring songs recorded during last year's Music Factory.   CANEX Music Concert: Will take the audience on a rhythmic journey across the continent, featuring some of Africa's most dynamic and groundbreaking artists such as the unstoppable Scorpion Kings, Qing Madi and the soulful Sofia Nzau, just to name a few.  CANEX Fashion Show: This year, we are bringing together 10 of the most innovative and bold designers from across Africa and the Diaspora, all set to unveil their exciting collections at the magnificent Algiers Botanical Gardens.   EXHIBITION: A dynamic business-to-business exhibition area designed for creative brands and organizations, offering exceptional opportunities to sell to international buyers.  GASTRONOMY Showcase: This showcase will be turning up the heat with a special appearance by some of the most celebrated chefs from Africa and the Diaspora. Culinary maestros will bring their stories, expertise, and mouthwatering recipes to life weaving the rich tapestry of African culture into every dish they create. From the vibrant streets of Lagos to the soulful kitchens of the Caribbean and the soothing landscapes of Cape Town, each chef will showcase the diverse flavours that define African cuisine across the globe.  ART EXHIBITION: A stunning visual art installation featuring the works of iconic artists along with emerging talents at the National Museum of Fine Arts in Algiers.   CANEX Book Factory Prize for Publishing in Africa: Celebrating literary excellence   from the continent  CANEX Shorts Awards Ceremony: Recognizing outstanding achievements of young filmmakers in short-form content creation.  Attendance and Registration  While attendance is free throughout the 4 days, pre-registration is essential. For more information or to register for CANEX WKND 2024, visit www.CANEX.Africa and be part of shaping the future of Africa's creative industries.  Join us in Algiers as we celebrate the power of African creativity and its impact on the global stage.  Distributed by APO Group on behalf of Afreximbank.   Media Contact:  Vincent Musumba  Manager, Communications and Events (Media Relations)  Email: press@afreximbank.com  Follow us on: Twitter Facebook LinkedIn Instagram About Afreximbank: African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.  For more information, visit: www.Afreximbank.com SOURCE Afreximbank

One Village, One Cinema To Generate N29 Billion Annually To Boost Creative Economy of Nigeria

 

The One Village, One Cinema initiative of the International Digital Post Network Limited, an  affiliate partner of Cinewav of Singapore will generate an estimated annual revenue of N29 billion for both the Christian Cinema in Nigeria (CCN) programme and SMEs in the entertainment Industry in all the 774 local government areas in Nigeria, famous for the phenomenal Nollywood, the largest indie film industry in Africa. 

With only an investment of N10, 000, 000 (ten million naira) that is currently less than US$10, 000 (ten thousand dollars) you can have a low budget cinema that can be installed within an hour indoors or outdoors and it can generate an average monthly revenue of N200, 000 - N400, 000 from the sales of the tickets from one location in a village in Africa's most populous nation with an estimated population of more than 200 million people.

The Christian Cinema in Nigeria (CCN) alone has an estimated target audience of 21 million Christians.

The N10 million investment includes the cinema equipment and all expenses paid one week training course at Cinewav in Singapore for one person who will be the operator of the cinema and can train others to become operators in Nigeria.

The cinema equipment can be taken from one location to another location from village to village. Tickets will be sold from N500 per person which is about one quarter of the amount paid for a ticket at the standard cinemas located in the upscale shopping malls in towns and cities. The urban cinemas are not enough for the increasing population of moviegoers with regular disposable incomes. There are less than 400 screens in the country in few cities with most of them in Lagos, the commercial capital of Africa's largest economy. 

The increasing demands for more cinemas compelled the International Digital Post Network Limited to start the One Village One Cinema initiative for both entertainment and public enlightenment and to boost the entertainment industry and accelerate the creative economy of Nigeria.

The initiative will be launched in 2024.

The cinemas will show approved movies, documentary films, series, sports and adverts. 

Public announcements for government programmes and other events are allowed.

The charges for public announcements and adverts are negotiable from N10, 000 - N100, 000 per location.

Revenues from public announcements and adverts are estimated to be N500, 000 - N1, 000, 000 monthly.

During outdoor screenings, only those who paid for tickets can hear the audio with the Cinewav  audio app.

International Digital Post Network Limited plans for more than 12, 000 cinemas in Nigeria, including  solar powered Cinewav Cineplex.

Potential investors, partners and  sponsors are the local, state and federal governments; private sector of local and foreign companies and organizations; especially telecoms, banks, fintechs and other businesses in Nigeria.

"What is the future of big screen?

"Most of the world is without a cinema hall. That will all change! One village, one cinema. Why not?"
~Anthony Tate, Virgina, U.S.A.

We would be happier to use cinemas to break social class barriers and build bridges of unity among communities for the common benefit of all.

Cinema has never been an elitist medium of communication.
Cinema is a tool for public entertainment and enlightenment and has been very effective and imperative in mass literacy campaigns in developed and developing countries for decades. Cinemas made Hollywood the film capital of the world buoyed by over 38,605 indoor screens in 5,561 sites and 628 Drive-In screens in 381 sites in the US, the largest in the world".

Screen Naija One Village, One Cinema Project: The Revival of Outdoor Cinema in Nigeria | Screen Outdoor Open Air Cinema

https://screennaija.wordpress.com/2013/12/04/screen-naija-one-village-one-cinema-project-the-revival-of-outdoor-cinema-in-nigeria/

The Creative Economy is Driven by the Digital Economy

Image credit: 
https://city.cri.cn/20210507/633e86e4-7cc0-92c5-a18c-439c6dec1d4b.html

The development of the Creative Economy is hinged on the development of the Digital Economy in the 21st century.

The creative industry in the 21st century is driven by digital technology from the street to the internet. 

Monetization of every format of intellectual property (IP) is mostly generated by digital applications of production, acquisition, distribution, collection and exhibition of which the transactions for the revenues are through fintech applications and services.

We cannot have a robust creative

economy without the support of the digital economy. Both economies have become interlocked as can be seen in Apple, Amazon, Alphabet, Meta, X and the new developments by the MultiChoice Group in Africa. 

The largest revenues of the entertainment industry are online.

Where else can we have billions of downloads and views of content?

Recommended:

THE ROLE OF DIGITAL ECONOMY IN ADVANCING CREATIVE INDUSTRIES-CREATIVITY 2030 SEMINAR

https://city.cri.cn/20210507/633e86e4-7cc0-92c5-a18c-439c6dec1d4b.html

- By Ekenyerengozi Michael Chima,

The Founder/CEO,

International Digital Post Network Limited,

Lagos, Nigeria.

The Nigerian Creative Economy: Beyond Nollywood and the Entertainment Industry

The Nigerian Creative Economy: Beyond Nollywood and the Entertainment Industry

Overview

Nigeria - Media and Entertainment

According to PwC Global Entertainment and Media Outlook for 2022-2026, Nigeria’s media and entertainment industry is one of the fastest growing creative industries in the world. It has the potential to become one of the country’s exports, with projected annual consumer growth rate of 8.8% (CAGR). PwC indicates that in 2021, Nigeria’s film industry contributed 2.3% ($660 million (239 billion naira)) to GDP. They project that the industry will increase its export revenue earnings to over $1 billion. The motion picture and music combined contributed about $1.8 billion (730 billion naira) to the country’s GDP in 2020.

The country’s television and video market grew 7.49% to $806 million in 2020, up from $732 million in 2018. The industry is projected to earn about $900 million in 2023. The market is driven by subscription revenue, which accounted for 72.26% of total TV/video sector revenue in 2018. TV advertising accounts for 21.31% of total revenue, while physical home videos account for 5.33%. Subscription-based movie streaming are very popular in Nigeria, attracting players like Netflix, Iroko TV, and Startimes. Although Netflix subscription has long been available in Nigeria, they made their official debut in Nigeria in February 2020, joining several major distributors of filmed content in Nigeria. In August 2022, Amazon Prime Video announced the launch of the localized version of its streaming service in Nigeria. According to an IMF report, the industry is projected to generate an estimated revenue of $10.8 billion by 2023 and account for 1.4% of GDP. The report indicates that in 2020, Nigeria overtook South Africa in pay TV subscription as the country currently has over 6.9 million pay TV households as of 2021.  It is projected to grow to upwards of 7.4 million by 2023. A new study by Research and Markets, shows that Nigeria will contribute about 10 million, or 21.2%, of Africa’s pay television subscribers by 2025.

The music sector of Nigeria’s entertainment industry also recorded significant growth over the years. Stakeholders include artists, musicians, producers, promoters, managers, distributors, and marketers. As of 2021, the music industry employed about a million people and generated over $8 billion for the economy. In the past six years, the growing numbers of new production studios and artists enabled a more vibrant and self-sustaining industry, producing globally recognized music. In this environment, Nigerian musicians have developed a vast spectrum of music genres. The industry has won prestigious awards with artists like Wizkid and Burnaboy claiming Grammy awards, attracting more and more investments..

https://www.trade.gov/country-commercial-guides/nigeria-media-and-entertainment

Which creative industries drive the creative economy of every country?

The industries are the following:

 Advertising, architecture, arts and crafts, design, fashion, film, video, photography, music, performing arts, publishing, research and development, software, computer games, electronic publishing and TV/radio.

As Dr. Reuben Abati said on The Morming Show of Arise TV on Thursday, November 23, 2023;

We cannot talk about growing the creative industry without a Cultural Policy.

Do we have a Cultural Policy?

Do we even have a Film Policy for Ñollywood and the Nigerian film industry?

Ñollywood is actually a dysfunctional film industry without a film market.

Without an insurance policy.

Without a single film commission.

Let me just go straight to my critical basics of the economics of the creative industry in Nigeria with an important query. And that's all. There is no need for a thesis on the economic crisis of Ñollywood and the Nigerian film industry.

Currently, the Nigerian film industry is a big canoe with holes and different sorts of characters with different agendas; including the real creative professionals, jobbers and of course the opportunists. 

They will make a big 

Kafkaesque and Soyinkasque drama.

Only the creatives with bankable assets and products can grow the creative economy. And not those who are expendable liabilities in the creative industry; that collected loans from the Bank of Industry of Nigeria and other banks and cannot account for the loans due to misappropriations and diversions of the millions of naira they collected. 

What happened to the N3 Billion Grant of the Project ACT Nollywood launched by the administration of former, President Goodluck Ebele Jonathan, GCFR?

Who were the benefitiaries?

Where are the assets and products of the beneficiaries?

Where are the 75 movies produced?

Where are the students trained in filmmaking?

Until there is a forensic report on the Project ACT Nollywood Grant, any establishment for an investment in the creative industry to grow the creative economy by the federal government lacks accountability.

Read the article on 

How The Project ACT Nollywood Grant Was Embezzled - by 

*Eyengho, is President, Association of Nollywood Producers, ANCOP, and Vice President, International Federation of Film Producers Associations, FIAPF.

http://www.metroparrot.net/2015/08/how-n3-billion-project-act-nollywood.html

The federal government should have a forensic report on the previous government investments in the creative industry before the establishment of a new initiative for the acceleration of creative economy.

- Ekenyerengozi MichaeI Chima,

Publisher/Editor,

NOLLYWOOD MIRROR® Series.

Founder/President,

ZENITH International Film Festival,

https://nigeriansreportng.blogspot.com/2023/11/zenith-international-film-festivals.html