Get Guardian on GoogleThe African Export-Import Bank (Afreximbank) has committed a $75 million financing facility to the Development Bank of Nigeria (DBN) to expand access to funding for small and medium-sized enterprises (SMEs), particularly businesses in export-oriented sectors and the creative economy.
The facility, which will be channelled through DBN’s participating financial institutions (PFIs), is designed to provide eligible businesses with funding for working capital, asset acquisition, pre-export and post-export activities, as well as supply chain operations.
Businesses operating in fashion, film, music, design and other creative industries are among the intended beneficiaries.
The commitment was announced during the 2026 Creative Africa Nexus Weekend (CANEX WKND), held in Lagos, where 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, led the ceremonial signing on behalf of their institutions.
The facility, in line with Afreximbank’s Export SME Development Programme, will combine financing with capacity-building and export-readiness support to equip beneficiary businesses with the skills, tools and market knowledge needed to strengthen their operations, improve competitiveness and access regional and international markets.
Beyond providing capital, Afreximbank and DBN will jointly develop a capacity-building programme to improve the ability of participating financial institutions to identify, finance and support export-oriented SMEs.
Afreximbank will also provide beneficiaries access to its trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the African Trade Exchange (ATEX). Additional market access opportunities will be facilitated through the Africa Buyer Programme, African Trade Distribution Company (ATDC) and the Intra-African Trade Fair (IATF).
Awani said the partnership was designed to address financing and capacity constraints confronting Nigerian SMEs, while helping them transition from local businesses into sustainable exporters.
“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,” she said.
She added that combining funding with practical business support would prepare enterprises for export markets and connect them with buyers across Africa and beyond.
For creative enterprises, she said, the initiative would advance CANEX’s ambition of turning African talent and ideas into commercially sustainable businesses capable of competing internationally.
The partnership brings together DBN’s wholesale lending network and Afreximbank’s expertise in trade finance, capacity development and market access, with the aim of strengthening local financial institutions’ ability to serve export-oriented businesses.
Okpanachi described the agreement as another step in DBN’s efforts to widen access to finance for Nigerian micro, small and medium-sized enterprises (MSMEs) and support the development of resilient, competitive and sustainable businesses.
He said the $75 million would provide much-needed funding through the bank’s participating financial institutions while creating opportunities for businesses, particularly those in the creative and export-oriented sectors, to expand their productive capacity and enter new markets.
“Beyond financing, the capacity-building and market-access components of this partnership are particularly important to us. By strengthening the ability of financial institutions to support export-ready businesses and connecting Nigerian enterprises to wider African and international markets, we are helping MSMEs move from local businesses to competitive participants in regional and global value chains. This aligns strongly with DBN’s mandate to address financing constraints and support inclusive and sustainable economic growth in Nigeria,” he added.
