Follow Us on Google Discover
The African Export-Import Bank (Afreximbank) has committed a $75 million financing facility to the Development Bank of Nigeria (DBN) to expand access to finance for Nigerian small and medium-sized enterprises (SMEs), including businesses in the creative economy.
The commitment was announced on Wednesday, November 11, 2026, following the ceremonial signing of an agreement between both institutions at the Creative Africa Nexus Weekend (CANEX WKND) 2026 in Lagos.
Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, Kanayo Awani, and DBN Managing Director and Chief Executive Officer, Tony Okpanachi, led the signing on behalf of their respective institutions.
Afreximbank targets SME financing, export growth
DBN will channel the facility through its participating financial institutions (PFIs) to support eligible businesses with working capital, asset acquisition, pre-export and post-export financing, and supply chain activities.
Also Read
Businesses operating in fashion, film, music, design and other creative industries are among the intended beneficiaries, although the facility is not limited to the creative sector.
The financing is part of Afreximbank’s Export SME Development programme, which combines funding with capacity-building and export-readiness support to help businesses strengthen their operations and access regional and international markets.
- Afreximbank and DBN will also jointly develop a capacity-building programme to improve the ability of participating financial institutions to support export-oriented SMEs.
- In addition, beneficiaries will have access to Afreximbank’s trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the Africa Trade Exchange (ATEX).
The partnership will also support market access through the Africa Buyer Programme, the African Trade and Distribution Company (ATDC) and the Intra-African Trade Fair (IATF).
Speaking on the partnership, Awani said the arrangement goes beyond providing capital, combining financing with capacity building, export-readiness support and access to 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. Our objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to sustainable exporters,” she said.
DBN highlights funding constraints facing MSMEs
Okpanachi described the partnership as an important step in DBN’s efforts to expand access to finance for Nigerian micro, small and medium-sized enterprises (MSMEs).
- “The US$75 million facility will provide much-needed financing through our Participating Financial Institutions, while creating greater opportunities for businesses, particularly those in the creative and export-oriented sectors, to strengthen their productive capacity and access new markets,” he said.
He said the capacity-building and market-access components were particularly important, as they would help financial institutions support export-ready businesses and connect Nigerian enterprises to wider African and international markets.
According to him, the arrangement would help MSMEs move from local businesses to competitive participants in regional and global value chains, in line with DBN’s mandate to address financing constraints and support inclusive economic growth.
More on SME financing in Nigeria
The latest financing commitment comes amid DBN’s expanding interventions in Nigeria’s MSME sector.
In June 2026, Nairametrics reported that the bank had disbursed more than N1 trillion to over one million MSMEs since commencing operations, supporting the creation of more than 1.6 million jobs. The bank also operates through a network of 84 participating financial institutions.
Earlier, in May 2026, the African Development Bank Group (AfDB) approved a $61 million financing package for DBN to expand access to affordable credit for women-owned and women-led MSMEs.
More than 95% of the package was specifically targeted at businesses owned or led by women.
