At the recent CANEX WKND 2024 in Algiers, the African Export-Import Bank (Afreximbank) committed a total of $350,000 to fund creative startups across Africa through its pitch session, “CANEX Presents the Angels.” The event brought together 12 entrepreneurs from 10 countries, all vying for capital to drive growth and expand their businesses.
Leading the investment was Moji Hunponu-Wusu, Founder of Woodhall Capital, with a $250,000 equity commitment to Cameroonian fashion designer Kibonen Nfi, founder of the Kibonen brand. Additionally, a consortium led by Ibrahim Sagna, Chairman of Silverbacks Holdings, alongside Hunponu-Wusu and Efe Ukala of ImpactHER, invested $100,000 in the competition’s top three startups.
The beneficiaries of these investments included:
- Pam Samasuwo-Nyawiri of Zimbabwe’s Vanhu Vamwe, who took first place
- Kibonen Nfi from Cameroon, who secured the second spot
- Thulani Ngazimbi of The Rad Black Kids from Zimbabwe, who placed third
Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, praised the initiative, noting, “These investments into creative enterprises will enable them to expand, trade across borders, create jobs, and contribute to Africa’s economic development.”
Under the theme “One People, United in Culture, Creating for the World,” CANEX WKND 2024 welcomed nearly 4,000 delegates from diverse creative sectors. Highlights included live performances, masterclasses, exhibitions, and a vibrant marketplace, reinforcing Africa’s rich cultural and creative potential on a global stage.
The event showcased Afreximbank’s commitment to Africa’s creative economy, driving new opportunities for cross-border trade and sustainable growth.
