Afreximbank, DBN seal $75m financing deal for SMEs

Caption: Dr Tony Okpanachi, Managing Director and CEO of DBN (left), and Mrs Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank (right), display the signed agreements at the official opening of CANEX WKND 2026 in Lagos, Nigeria.

The African Export-Import Bank has committed $75m in financing to the Development Bank of Nigeria to expand access to credit for Nigerian small and medium-sized enterprises, particularly businesses operating in the creative and export-oriented sectors.

The facility will be disbursed through DBN’s participating financial institutions to support working capital, asset acquisition, export financing and supply chain activities, with businesses in fashion, film, music and design among the intended beneficiaries.

According to a statement issued by Afreximbank on Wednesday, the agreement was signed during the Creative Africa Nexus Weekend 2026 in Lagos by the bank’s Executive Vice President, Intra-African Trade and Export Development, Kanayo Awani, and DBN’s Managing Director and Chief Executive Officer, Tony Okpanachi.

Commenting on the agreement, Awani said, “Nigerian SMEs need finance to invest in productive capacity and compete in new markets. Through DBN’s network of participating financial institutions, this $`75m facility will help more businesses, including those in the creative economy, access the capital they need to grow and participate in export value chains.”

She explained that the partnership was designed to address financing constraints while helping Nigerian businesses develop the capacity to compete in regional and international markets.

“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,” she said.

“Our objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to sustainable exporters.”

Under the arrangement, eligible businesses will be able to access financing for equipment purchases, production expansion, pre-export and post-export activities, and supply chain operations.

The institutions will also jointly develop a capacity-building programme to strengthen the ability of participating financial institutions to assess and finance export-oriented businesses.

Afreximbank will provide beneficiaries with access to its trade platforms, including the Pan-African Payment and Settlement System, MANSA, TRADAR and the African Trade Exchange.

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Additional market access support will be provided through the Africa Buyer Programme, the African Trade and Distribution Company and the Intra-African Trade Fair.

Awani explained that combining financial assistance with export-readiness training would enable businesses to identify new customers and participate more effectively in cross-border trade.

She added that the initiative would support the CANEX programme’s objective of transforming African creative talent into commercially sustainable enterprises.

Also speaking, Okpanachi described the agreement as an important step towards addressing financing difficulties facing Nigerian micro, small and medium-sized enterprises.

“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,” he said.

“The `$75m 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.”

He explained that the partnership would also strengthen the capacity of financial institutions to support businesses seeking opportunities beyond Nigeria.

“Beyond financing, the capacity-building and market-access components of this partnership are particularly important to us,” Okpanachi added.

The agreement forms part of Afreximbank’s Export SME Development programme, which combines financing, technical assistance and market access initiatives to support African businesses.

The CANEX Weekend 2026, held from November 5 to 8 at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos, brought together creative entrepreneurs, investors, buyers and policymakers to explore financing and commercial opportunities.