Afreximbank Acquires Stake in D’banj’s CREAM Platform to Expand African Music Industry

The African Export-Import Bank (Afreximbank) has acquired an equity stake in CREAM, the digital entertainment platform founded by Nigerian musician Dapo Oyebanjo, popularly known as D’banj as the financial institution deepens its investment in Africa’s creative industry.

The investment, executed through CANEX Creations Incorporated, Afreximbank’s investment vehicle for African intellectual property, is expected to support CREAM’s expansion and create additional commercial opportunities for musicians and other content creators.

The agreement was formalised on November 6, 2026, during the Creative Africa Nexus Weekend in Lagos, following an initial term sheet signed in Abuja in June 2025.

Although the transaction represents a significant development for the Nigerian entertainment entrepreneur, the parties did not disclose the financial value of the investment or the percentage of equity acquired by Afreximbank.

The partnership comes as African musicians increasingly explore alternative revenue channels to reduce their dependence on conventional streaming platforms and strengthen their control over intellectual property.

As part of its expansion, CREAM introduced a digital service allowing fans to purchase music, videos and other entertainment content directly through its website and USSD platform.

The model is designed to provide participating artistes with additional opportunities to generate revenue from their creative works while maintaining direct commercial relationships with their audiences.

Beyond digital distribution, CREAM has secured a separate partnership with US-based Cinq Music Group to identify, sign and develop 10 emerging artistes through its talent discovery platform.

The agreement will also support the distribution of international music through CREAM, beginning with Live Your Life, the collaboration between American rapper T.I. and Rihanna.

D’banj said the partnership with Afreximbank would improve access to financing for African creatives while enabling them to retain ownership of their intellectual property.

Osahon Akpata, Chief Executive Officer of CANEX Creations, also identified audience expansion and improved commercial opportunities for emerging talent as major objectives of the investment.

The development reflects growing institutional interest in Africa’s entertainment economy, where music, film and digital content increasingly represent commercially valuable intellectual property.

However, the long-term impact of the investment will depend on CREAM’s ability to attract paying customers, expand its catalogue and convert audience engagement into sustainable earnings for participating artistes.

For emerging Nigerian musicians, the combination of financing, talent development and direct-to-consumer distribution could provide an alternative route to commercial success in an industry where international visibility does not always translate into proportionate earnings.

The transaction also highlights Afreximbank’s broader effort to position African creative businesses as investable enterprises capable of generating revenue from intellectual property beyond the continent.