By Lukmon Akintola
The African Export-Import Bank (Afreximbank) has committed a $75 million financing facility to the Development Bank of Nigeria (DBN) to expand access to credit for Nigerian small and medium-sized enterprises (SMEs), particularly businesses seeking to enter regional and international markets.
The facility will provide financing for working capital, equipment acquisition, pre-export and post-export activities, as well as supply chain operations, with businesses in manufacturing, fashion, film, music, design and other creative industries among the intended beneficiaries.
Under the arrangement, DBN will channel the funds through its network of participating financial institutions (PFIs), including eligible commercial banks and other partner lenders. This means SMEs will access the facility through participating financial institutions rather than applying directly to Afreximbank.
Businesses interested in the funding will need to approach a DBN-partnered financial institution to establish whether it is participating in the facility and obtain details of its application process, eligibility criteria, documentation and lending conditions.
Applicants are expected to demonstrate that their businesses meet the relevant financing requirements. Depending on the purpose of the loan, this may include evidence of business operations, financial records, a viable business plan and details of the proposed investment or export activity. The participating lenders will assess applications and determine lending terms.
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The $75 million facility was announced during CANEX WKND 2026 in Lagos, with Kanayo Awani, Afreximbank’s Executive Vice-President, Intra-African Trade and Export Development, and Tony Okpanachi, DBN’s Managing Director and Chief Executive Officer, representing the institutions at the signing.
Beyond providing credit, the partnership will incorporate capacity-building and export-readiness programmes to help businesses improve their operations, meet international trade requirements and access new markets.
Afreximbank and DBN will also work together to strengthen the capacity of participating financial institutions to identify, assess and finance export-oriented SMEs.
Afreximbank said beneficiary businesses would also gain access to its trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the African Trade Exchange (ATEX).
The partnership will further support market access through the Africa Buyer Programme, African Trade Distribution Company (ATDC) and the Intra-African Trade Fair.
Awani said the arrangement was designed to combine financing with business development support and market access, helping Nigerian enterprises move beyond local operations and become competitive exporters.
She said the objective was to strengthen productive capacity, improve competitiveness and prepare businesses to participate in regional and international trade.
Okpanachi said the facility would expand DBN’s ability to provide financing to Nigerian micro, small and medium-sized enterprises through its participating financial institutions.
He added that the capacity-building and market-access components would help businesses improve their ability to compete in regional and global value chains.
The partnership brings together DBN’s wholesale lending network and Afreximbank’s trade finance expertise, with the aim of addressing financing and market-access constraints affecting Nigerian SMEs.