Afreximbank Commits $75m To Development Bank Of Nigeria For SME Financing

The African Export-Import Bank (Afreximbank) has committed a US$75 million finance facility to the Development Bank of Nigeria (DBN) to expand access to finance for Nigerian small and medium-sized enterprises (SMEs), including eligible businesses in the creative economy.

Afreximbank announced this during CANEX WKND 2026 in Lagos, Nigeria, according to a statement on Wednesday, saying the DBN would route the loan through its partner financial institutions to fund eligible small businesses.

Executive Vice President, Intra-African Trade and Export Development, Afreximbank, Mrs. Kanayo Awani, and Managing Director and Chief Executive Officer, Tony Okpanachi, led the ceremonial signing on behalf of their institutions.

The regional bank explained that the facility would support working capital, asset acquisition, pre-export, post-export and supply chain activities, with businesses in fashion, film, music, design and the wider creative industries among the intended beneficiaries.

It said that the facility reflects the event’s focus on connecting creative enterprises with finance, investment and markets.

“In line with Afreximbank’s Export SME Development programme, the facility will combine financing with capacity-building and export-readiness support for beneficiary SMEs, equipping them with the skills, tools and market knowledge required to strengthen their businesses, become export-ready and access regional and international markets,” the statement partly read.

“Alongside the financing, Afreximbank and DBN will jointly develop a capacity-building programme to strengthen PFIs’ ability to support export-oriented SMEs. Afreximbank will also provide access to its trade platforms, including MANSA, TRADAR, PAPSS and ATEX, and support market access through the Africa Buyer Programme, ATDC and the Intra-African Trade Fair (IATF).

Awani noted that the objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to 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.

Mrs. Awani said combining finance with this practical support would help businesses prepare for export markets and connect with buyers across Africa and beyond.

“For creative enterprises, that advances CANEX’s ambition to turn African talent and ideas into sustainable businesses that can compete internationally,” she added.

The partnership combines DBN’s wholesale lending network with Afreximbank’s trade finance expertise, capacity building and market access support, strengthening local financial institutions’ ability to serve export-oriented SMEs.

The Managing Director/Chief Executive Officer, Development Bank of Nigeria, Tony Okpanachi, said the partnership with Afreximbank represented 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 US$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,” Okpanachi said.

“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.

The Creative Africa Nexus (CANEX) is Afreximbank’s flagship programme for Africa’s creative and cultural industries.

It supports the development of commercially sustainable, export-ready creative businesses through access to finance, skills, markets, commercial partnerships and policy support.

CANEX WKND 2026 was held from November 5 to 8 November, 2026, at the Wole Soyinka Centre for Cultural & Creative Arts in Lagos.

It was organised by Afreximbank, hosted by the Government of Nigeria, and delivered in partnership with the African Union Commission and the AfCFTA Secretariat.

It brought together creatives, investors, buyers and policymakers from Africa, the Caribbean and the diaspora.

Its programme included a Deal Room, finance and intellectual property sessions, export-readiness training and business-to-business opportunities.