Afreximbank commits $75m to boost Nigerian SME financing
The African Export-Import Bank (Afreximbank) has committed $75 million to the Development Bank of Nigeria (DBN) to expand credit access for small and medium-sized enterprises (SMEs), with businesses in Nigeria’s creative and export-oriented sectors among the major beneficiaries.
The financing facility, announced on Wednesday at the Creative Africa Nexus Weekend (CANEX WKND) 2026 in Lagos, will support eligible businesses through DBN’s network of participating financial institutions, providing funding for working capital, asset acquisition, pre-export and post-export activities, and supply chain operations.
The agreement was signed by Afreximbank’s Executive Vice-President for Intra-African Trade and Export Development, Kanayo Awani, and DBN Managing Director and Chief Executive Officer, Tony Okpanachi.
The intervention forms part of Afreximbank’s Export SME Development programme, which combines financing with capacity-building and export-readiness support to help businesses improve their operations and compete in regional and international markets.
Although the facility is not restricted to the creative economy, enterprises in fashion, film, music, design and other creative industries are among those expected to benefit.
Beyond the funding, both institutions will develop a joint capacity-building programme to strengthen the ability of participating financial institutions to identify and support export-oriented SMEs.
Beneficiary businesses will also gain 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 is further expected to improve market access through initiatives such as the Africa Buyer Programme, the African Trade and Distribution Company (ATDC) and the Intra-African Trade Fair (IATF).
Awani said the arrangement was designed to address more than the funding needs of Nigerian businesses, arguing that access to finance must be matched with the capacity and market connections required to compete beyond domestic borders.
“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.
Okpanachi described the facility as a significant addition to DBN’s efforts to address financing constraints facing Nigerian micro, small and medium-sized enterprises (MSMEs).
He said the $75 million would be channelled through participating financial institutions, giving businesses, particularly those in creative and export-oriented industries, greater opportunities to expand production and reach new markets.
He added that the capacity-building and market-access components would help financial institutions better serve export-ready enterprises and connect Nigerian businesses to wider African and international value chains.
The latest commitment comes amid growing development-finance interventions aimed at closing Nigeria’s MSME funding gap, particularly for businesses seeking to scale beyond the domestic market.
In June 2026, DBN disclosed that it 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 operates through a network of 84 participating financial institutions.
Similarly, the African Development Bank Group approved a $61 million financing package for DBN in May 2026 to expand access to affordable credit for women-owned and women-led MSMEs, with more than 95 per cent of the package specifically targeted at such businesses.
The new Afreximbank facility adds another source of funding to the development bank’s lending capacity, while placing greater emphasis on the productive capacity, export readiness and market access needed to turn small Nigerian businesses into competitive regional enterprises.
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