Afreximbank has pledged $75 million to support the Development Bank of Nigeria (DBN) in its efforts to increase financial access for small and medium-sized enterprises (SMEs) in Nigeria, with a focus on creative industries.
Channeling Funds Through Partner Institutions
DBN will distribute the funds through its partner financial institutions, providing SMEs with necessary financing for various activities, including working capital, asset acquisition, and supply chain management, as well as pre-export and post-export financing.
Businesses in the creative sectors, such as fashion, film, and music, will be eligible for funding, along with SMEs looking to expand their regional and international trade presence.
The agreement was signed by Kanayo Awani, Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, and Tony Okpanachi, DBN’s Managing Director and CEO, during the CANEX WKND 2026 event in Lagos, which took place from November 5 to 8.
Full Support for Export Development
The $75 million facility is part of Afreximbank’s Export SME Development program, which offers a combination of financial support, capacity building, and market development initiatives to help SMEs become export-ready.
Beneficiaries will also have access to Afreximbank’s trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS), and the African Trade Exchange (ATEX), to facilitate their trade activities.
Additional support will be provided through initiatives like the Africa Buyer Programme, the Africa Trade and Distribution Company (ATDC), and the Intra-African Trade Fair (IATF), aiming to increase market access for Nigerian SMEs.
“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,” said Awani.
“Our objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to sustainable exporters.”
Awani also noted that the initiative will enhance the ability of local financial institutions to support SMEs throughout their development journey.
“This partnership with Afreximbank represents another important step in DBN’s commitment to expanding access to finance for Nigerian MSMEs and enabling them to build resilient, competitive and sustainable businesses,” said Okpanachi.
“The $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.”
The financing facility also aligns with Afreximbank’s Creative Africa Nexus (CANEX) program, which aims to develop commercially sustainable creative businesses by providing access to finance, skills, markets, and commercial partnerships.
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