Afreximbank Commits $75 Million to Expand Financing for Nigerian SMEs

LAGOS, Nigeria — The African Export-Import Bank, Afreximbank, has committed a $75 million financing facility to the Development Bank of Nigeria, or DBN, to expand access to finance for Nigerian small and medium-sized enterprises.

The facility is expected to support eligible businesses requiring funding for working capital, asset acquisition, pre-export and post-export activities, as well as supply-chain operations.

Importantly, the $75 million will not be distributed directly to individual businesses by Afreximbank. Instead, the Development Bank of Nigeria will channel the financing through its network of participating financial institutions, which will provide funding to eligible businesses under the arrangement.

The agreement was announced in connection with CANEX WKND 2026 in Lagos, an event focused on connecting African creative businesses with finance, investment and markets.

Supporting Creative and Export-Oriented Businesses

Businesses operating in fashion, film, music, design and other creative industries are among the intended beneficiaries of the facility.

However, the programme is not limited to the creative economy. Export-oriented small and medium-sized businesses in other sectors may also be eligible for financing.

Access to credit remains one of the major challenges facing many Nigerian SMEs. Businesses often need capital to purchase equipment, increase production, fulfil large orders or expand into new markets.

The facility is designed to address some of those financing needs while supporting businesses that have the potential to participate more actively in regional and international trade.

More Than Just Financing

A major feature of the Afreximbank-DBN partnership is that it combines financing with other forms of business support.

Under Afreximbank's Export SME Development Programme, eligible businesses are expected to receive capacity-building and export-readiness support designed to help them strengthen their operations and prepare for regional and international markets.

Afreximbank and DBN also plan to work together to strengthen the ability of participating financial institutions to identify and support export-oriented SMEs.

This is important because access to money alone does not always solve the challenges businesses face when trying to enter international markets.

Companies may also need support with market knowledge, trade procedures, business planning and connections to potential buyers.

Access to African Trade Platforms

The partnership is also expected to give beneficiaries access to several Afreximbank-supported trade platforms.

These include MANSA, TRADAR, the Pan-African Payment and Settlement System, known as PAPSS, and the African Trade Exchange, or ATEX.

The businesses may also benefit from market-access initiatives including the Africa Buyer Programme, the African Trade Distribution Company and the Intra-African Trade Fair.

The objective is to help Nigerian SMEs move beyond their domestic markets and become more competitive participants in African and international value chains.

DBN's Role in the Arrangement

The Development Bank of Nigeria operates as a wholesale development finance institution.

Rather than typically lending directly to every small business, DBN works through eligible participating financial institutions, which assess and provide financing to businesses.

Under the new arrangement, the $75 million facility is expected to strengthen the funding available through this network.

DBN Managing Director and Chief Executive Officer Tony Okpanachi said the partnership was part of the bank's broader effort to expand access to finance for Nigerian micro, small and medium-sized enterprises.

He said the financing could create additional opportunities for businesses, particularly in creative and export-oriented sectors, to strengthen their productive capacity and access new markets.

What the Facility Could Mean for SMEs

For Nigerian small businesses, the announcement offers the prospect of additional financing opportunities, particularly for companies seeking to expand production, acquire assets or develop export operations.

However, it is important to distinguish between the announcement of the facility and the actual disbursement of loans.

Individual businesses will still need to meet the requirements established by participating financial institutions, and the announcement does not mean that every SME will automatically qualify for funding.

Details such as individual loan amounts, interest rates and specific repayment terms may depend on the participating financial institutions and the terms under which financing is eventually offered.

The $75 million commitment nevertheless represents a significant new financing arrangement aimed at strengthening Nigerian SMEs.

If successfully implemented, the partnership could help more businesses access capital while also providing the skills, market connections and export support needed to compete beyond Nigeria's borders.