The African Export-Import Bank (Afreximbank) has committed a $75 million financing facility to the Development Bank of Nigeria (DBN) to broaden access to finance for Nigerian small and medium-sized enterprises (SMEs), including businesses operating in the creative economy.
The commitment was announced on Wednesday, November 11, 2026, following the ceremonial signing of an agreement between the two institutions at the Creative Africa Nexus Weekend (CANEX WKND) 2026 in Lagos. Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, Kanayo Awani, and DBN’s Managing Director and Chief Executive Officer, Tony Okpanachi, signed on behalf of their respective institutions.
How the Facility Will Be Deployed
DBN will channel the facility through its participating financial institutions (PFIs) to support eligible businesses with working capital, asset acquisition, pre-export and post-export financing, and supply chain activities. Enterprises in fashion, film, music, design and other creative industries are among the intended beneficiaries, although the facility is not limited to the creative sector.
The financing forms part of Afreximbank’s Export SME Development programme, which pairs funding with capacity-building and export-readiness support to help businesses strengthen their operations and reach regional and international markets. The partnership will also facilitate market access through the Africa Buyer Programme, the African Trade and Distribution Company (ATDC) and the Intra-African Trade Fair (IATF).
Leadership Comments
Awani said the arrangement goes beyond the provision of capital, combining financing with capacity building, export-readiness support and access to markets. Okpanachi described the partnership as an important step in DBN’s efforts to expand access to finance for Nigerian micro, small and medium-sized enterprises (MSMEs).
He noted that the capacity-building and market-access components were particularly significant, as they would help financial institutions support export-ready businesses and connect Nigerian enterprises to wider African and international markets. According to Okpanachi, the arrangement would help MSMEs evolve from local businesses into competitive participants in regional and global value chains, in line with DBN’s mandate to address financing constraints and promote inclusive economic growth.
DBN’s Broader MSME Interventions
The latest commitment comes amid DBN’s expanding interventions in Nigeria’s MSME sector. In June 2026, the bank was reported to have disbursed more than N1 trillion to over one million MSMEs since commencing operations, supporting the creation of more than 1.6 million jobs. It also operates through a network of 84 participating financial institutions.
Earlier, in May 2026, the African Development Bank Group approved a $61 million financing package for DBN to expand access to affordable credit for women-owned and women-led MSMEs, with more than 95 percent of the package specifically targeted at businesses owned or led by women.
