NACCIMA Launches $150M Business Fund for Nigerian Firms

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has opened applications for a $150 million offshore financing facility aimed at supporting eligible Nigerian businesses in expanding their operations through long-term funding. This facility, developed in partnership with the German banking group ODDO BHF SE, offers loans starting from $10 million at single-digit interest rates, with repayment periods of at least 7.5 years.

To qualify, businesses must be legally registered in Nigeria, have at least three years of audited financial statements, and comply with Environmental, Social and Governance (ESG) standards. Eligible sectors include manufacturing, agriculture, energy, ICT, and more, with 20% of the fund reserved for digital economy projects.

Applicants must register on the NACCIMA portal and provide various details, including company information, project descriptions, and financial data. A significant portion of the financing must be allocated to purchasing approved European machinery or services.