July 12, (THEWILL) — In a significant boost to Nigeria’s burgeoning creative industry, Woodhall Finance House, in collaboration with the UK Government’s Department for Business and Trade, Polaris Bank, and the Lagos State Government, has launched a N1.5 billion Creative Sector Fund aimed at supporting export-ready enterprises across fashion, film, music, digital arts, and beauty.
The announcement was made at the launch of ‘The Creative Currency Podcast’, held at the official Lagos residence of the British Deputy High Commissioner, Mr Jonny Baxter. The event brought together government officials, private investors, development finance institutions, and leading African creatives to explore how innovative financial instruments can transform the continent’s cultural capital into economic power.
Speaking at the launch, Mrs Mojisola Hunponu-Wusu, President of Woodhall Capital, declared the fund a bold step toward repositioning the creative economy as a bankable sector.
“Creativity is no longer an abstract asset. It is a bankable commodity. If we want real change, we must finance our own narratives. This fund is about backing bold ideas and turning cultural capital into economic power”, she said.
The event was graced by Lagos State Governor, Babajide Sanwo-Olu, represented by Mrs Folashade Bada Ambrose, the Commissioner for Commerce, Cooperatives, Trade and Investment. She reaffirmed the state’s commitment to supporting the creative economy, noting that Lagos remains Africa’s creative capital and a destination of choice for global investors in the arts.
Also speaking, British Deputy High Commissioner Mr Jonny Baxter, highlighted the UK’s deepening commitment to creative partnerships through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) and the Creative Industries Technical Working Group.
“We’re not just here to observe; we’re here to build with Nigeria’s creative minds. This collaboration brings together innovation, investment, and storytelling to empower the next generation”, Baxter said.
A key highlight of the evening was the panel session titled “Financing Africa’s Creative Economy”, featuring Abimbola Ozomah, Executive Director of Polaris Bank; Sola Carrena, MD/CEO of Helios Investment Partners; and Hunponu-Wusu. The discussion centred on the role of blended finance, creative bonds, and factoring as scalable solutions for funding Africa’s creative sector.
The N1.5 billion fund will be accessible to growth-oriented SMEs and creative enterprises that demonstrate export readiness and commercial viability. It is expected to strengthen the value chain across the creative ecosystem while encouraging formalisation and access to global markets.
The evening closed with a fireside chat on “UK-Nigeria Cultural Synergies”, followed by a cultural fusion reception under the UK’s Jollof and Tea campaign, blending British and Nigerian culinary traditions.
As African creativity garners global attention, initiatives like this aim to ensure that visibility translates into sustainable viability, transforming culture into capital and passion into prosperity.
Janefrances Ebere Chibuzor is a Tourism Writer at THEWILL
