Afreximbank, DBN seal $75m financing deal for SMEs

Detailed summary

Afreximbank has committed $75m in financing to the Development Bank of Nigeria to expand credit access for Nigerian SMEs, focusing on creative and export s Read More:…

The African Export-Import Bank has committed $75m in financing to the Development Bank of Nigeria to expand access to credit for Nigerian small and medium-sized enterprises, particularly businesses operating in the creative and export-oriented sectors.

The facility will be disbursed through DBN’s participating financial institutions to support working capital, asset acquisition, export financing and supply chain activities, with businesses in fashion, film, music and design among the intended beneficiaries.

According to a statement issued by Afreximbank on Wednesday, the agreement was signed during the Creative Africa Nexus Weekend 2026 in Lagos by the bank’s Executive Vice President, Intra-African Trade and Export Development, Kanayo Awani, and DBN’s Managing Director and Chief Executive Officer, Tony Okpanachi.

Commenting on the agreement, Awani said, “Nigerian SMEs need finance to invest in productive capacity and compete in new markets. Through DBN’s network of participating financial institutions, this $`75m facility will help more businesses, including those in the creative economy, access the capital they need to grow and participate in export value chains.”

She explained that the partnership was designed to address financing constraints while helping Nigerian businesses develop the capacity to compete in regional and international markets.

“Our partnership with DBN goes beyond providing capital. We are taking an integrated approach that combines finance with capacity building, export-readiness support and access to markets,” she said.

“Our objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to sustainable exporters.”

Under the arrangement, eligible businesses will be able to access financing for equipment purchases, production expansion, pre-export and post-export activities, and supply chain operations.

The institutions will also jointly develop a capacity-building…

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