The African Export-Import Bank (Afreximbank) has committed a $75 million finance facility to the Development Bank of Nigeria (DBN) to support Nigerian small and medium-sized enterprises (SMEs). This facility was announced during the Creative Africa Nexus (CANEX) WKND 2026 in Lagos, with the aim of widening access to finance for SMEs, including those in the creative economy. The finance facility will be routed through DBN's Participating Financial Institutions (PFIs) to fund eligible small businesses.
The $75 million facility will support various business activities, including working capital, asset acquisition, pre-export and post-export financing, and supply chain activities. Eligible businesses in the creative industries, such as fashion, film, music, and design, will benefit from this facility. Afreximbank's Executive Vice President, Intra-African Trade and Export Development, Kanayo Awani, and DBN's Managing Director and Chief Executive Officer, Dr Tony Okpanachi, led the ceremonial signing for their institutions.
The financing facility comes with capacity-building and export-readiness support to help beneficiary firms become export-ready and reach regional and international markets. Under Afreximbank's Export SME Development programme, SMEs will receive support to enhance their export capabilities. Additionally, Afreximbank and DBN will jointly develop a capacity-building programme to strengthen the PFIs' ability to support export-oriented SMEs.
The partnership between Afreximbank and DBN goes beyond providing capital, as it combines finance with capacity building, export-readiness support, and access to markets. According to Awani, the aim is to help Nigerian SMEs transition from local businesses to sustainable exporters. The partnership also advances CANEX's ambition to turn African talent and ideas into sustainable businesses that can compete internationally.
Okpanachi emphasized that the partnership is another important step in DBN's commitment to expanding access to finance for Nigerian micro, small, and medium enterprises (MSMEs). The $75 million facility will provide much-needed financing through DBN's PFIs and create opportunities for businesses, particularly those in creative and export-oriented sectors.
The capacity-building and market-access components of the deal are crucial to DBN, as they will strengthen financial institutions' ability to support export-ready businesses and connect Nigerian enterprises to wider markets. This will enable MSMEs to move from local businesses to competitive participants in regional and global value chains.
The partnership combines DBN's wholesale lending network with Afreximbank's trade finance expertise, capacity building, and market access support. Through this partnership, Afreximbank will also provide businesses with access to its trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS), and ATEX, as well as support market access through the Africa Buyer Programme and the Afreximbank Trade and Development Centre (ATDC).
Key points
- The $75 million finance facility will support working capital, asset acquisition, and export financing for Nigerian SMEs.
- The partnership combines finance with capacity building, export-readiness support, and access to markets.
- The facility will benefit businesses in the creative industries, such as fashion, film, music, and design.
