The African Export-Import Bank (Afreximbank) has committed a $75m financing facility to the Development Bank of Nigeria (DBN) to expand access to funding for small and medium-sized enterprises across the country.
The financing is expected to support businesses facing difficulties accessing affordable capital, particularly those operating in export-oriented sectors and the creative economy.
The commitment was announced during the 2026 Creative Africa Nexus Weekend (CANEX WKND), held in Lagos, where representatives of both financial institutions formalised the partnership.
The facility will be channelled through DBN’s participating financial institutions, allowing eligible businesses to access financing through the bank’s existing lending network.
According to details of the arrangement, the funding will support several business needs, including working capital, asset acquisition, pre-export and post-export activities, as well as supply chain financing.
The initiative is expected to benefit businesses operating in fashion, film, music, design and other creative industries.
Small and medium-sized enterprises play an important role in Nigeria’s economy because they contribute to employment, income generation, innovation and local production.
However, access to finance remains one of the major challenges confronting many small businesses.
Many entrepreneurs struggle to obtain loans because of high borrowing costs, inadequate collateral, limited credit histories and the risks associated with lending to smaller businesses.
These challenges often prevent businesses from expanding their operations, purchasing equipment, employing additional workers or entering international markets.
The Afreximbank and DBN partnership is designed to address some of these financing difficulties by providing additional resources through established financial institutions.
Beyond providing capital, the programme will also include capacity-building and export-readiness support.
This is important because access to funding alone may not be sufficient to help small businesses compete successfully in international markets.
Businesses seeking to export products need knowledge of international trade procedures, product standards, documentation requirements, logistics and foreign market regulations.
The partnership will therefore support activities aimed at improving the ability of businesses to operate competitively beyond Nigeria.
Afreximbank Executive Vice President for Intra-African Trade and Export Development, Kanayo Awani, and DBN Managing Director and Chief Executive Officer, Tony Okpanachi, represented their institutions during the signing ceremony.
Afreximbank is also expected to provide beneficiaries with access to some of its trade platforms.
These include MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the African Trade Exchange.
Additional market opportunities are expected through programmes such as the Africa Buyer Programme, African Trade Distribution Company and the Intra-African Trade Fair.
These platforms could help participating businesses connect with potential buyers, improve trade transactions and explore opportunities across African markets.
For Nigeria’s creative industry, the financing could provide important support for businesses involved in fashion production, entertainment, film distribution, music and design.
Many creative businesses have products and services with international market potential but lack the financial resources required to expand their operations.
Improved access to capital could help such businesses acquire equipment, strengthen production capacity and reach more customers.
The facility could also benefit businesses outside the creative sector, provided they meet the programme’s eligibility requirements.
However, the impact of the financing will depend on how effectively participating financial institutions distribute the funds and whether eligible businesses can access them on reasonable terms.
The partnership represents another effort to strengthen Nigeria’s small business sector and encourage more companies to participate in regional and international trade.
It also highlights the importance of development finance institutions in supporting entrepreneurs and creating opportunities for businesses to grow beyond their domestic markets.
