Afreximbank Allocates $75M to Boost Nigerian SMEs

The African Export-Import Bank (Afreximbank) has committed $75 million in financing to the Development Bank of Nigeria (DBN) to improve access to credit for Nigerian small and medium-sized enterprises (SMEs), especially those in the creative and export-oriented sectors. This financing will be disbursed through DBN’s participating financial institutions to support working capital, asset acquisition, export financing, and supply chain activities, targeting businesses in fashion, film, music, and design.

The agreement was signed during the Creative Africa Nexus Weekend 2026 in Lagos by Kanayo Awani, Afreximbank's Executive Vice President for Intra-African Trade and Export Development, and Tony Okpanachi, DBN's Managing Director and Chief Executive Officer. Awani emphasized the need for Nigerian SMEs to access finance to enhance their productive capacity and compete in new markets.

The partnership aims to combine financial assistance with capacity building and export-readiness support, facilitating access to trade platforms and market opportunities for eligible businesses.