The African Export-Import Bank (Afreximbank) has committed a $75 million financing facility to the Development Bank of Nigeria (DBN) to strengthen access to affordable funding for Nigerian small and medium-sized enterprises (SMEs), with a focus on businesses in the creative and export-oriented sectors.
The facility will be channelled through DBN’s Participating Financial Institutions (PFIs) to support eligible businesses with working capital, asset acquisition, pre-export and post-export financing, as well as supply chain activities. Beneficiaries are expected to include enterprises across fashion, film, music, design and other segments of Nigeria’s growing creative economy.
The announcement was made at CANEX WKND 2026 in Lagos, underscoring the event’s commitment to connecting creative businesses with financing opportunities, investment and access to markets. The facility was formalised through a ceremonial signing led by Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, and Dr. Tony Okpanachi, Managing Director and Chief Executive Officer of DBN, representing their respective institutions.
“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. At the same time, we will work with participating financial institutions to strengthen their capacity to better understand, finance and support SMEs throughout their growth journey,” said Mrs. Awani.
“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. 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,” said Dr. Tony Okpanachi, Managing Director/Chief Executive Officer, Development Bank of Nigeria.
