The African Export-Import Bank (Afreximbank) has committed $75 million to the Development Bank of Nigeria (DBN) to improve access to financing for small and medium-sized enterprises (SMEs) across the country.
The funding is expected to support businesses seeking capital to expand their operations, acquire equipment, strengthen supply chains and participate in international trade. It will also cover businesses operating in Nigeria’s creative industry. The commitment was announced on Wednesday, November 11, 2026, following the signing of an agreement between both financial 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 Managing Director and Chief Executive Officer, Tony Okpanachi, signed the agreement on behalf of their respective organisations. Under the arrangement, DBN will distribute the funds through its participating financial institutions (PFIs), which will provide financing to eligible businesses.
The facility will cover working capital, equipment acquisition, pre-export and post-export financing, as well as supply chain activities. Businesses in fashion, film, music, design and other creative sectors are among those expected to benefit from the funding. However, the programme is open to other eligible businesses beyond the creative industry.
The financing falls under Afreximbank’s Export SME Development programme, which combines financial support with business training and export preparation to help companies improve their operations and access regional and international markets. As part of the partnership, both institutions will develop a capacity-building programme to strengthen the ability of participating financial institutions to provide support to export-oriented SMEs. Beneficiary businesses will also gain access to Afreximbank’s trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the Africa Trade Exchange (ATEX).
The partnership will further connect businesses to wider markets through the Africa Buyer Programme, the African Trade and Distribution Company (ATDC) and the Intra-African Trade Fair (IATF). Speaking on the agreement, Awani said the partnership was designed to address more than the funding needs of small businesses by providing additional support to help them compete beyond Nigeria.
“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,” she said.
Okpanachi described the $75 million commitment as an important step towards expanding financing opportunities for Nigerian micro, small and medium-sized enterprises (MSMEs).
“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,” he said.
He added that training and market access would help financial institutions support businesses preparing to enter export markets. The latest commitment comes as DBN continues to expand its support for Nigerian businesses.
In June 2026, the bank disclosed that it had disbursed more than N1 trillion to over one million MSMEs since beginning operations, contributing to the creation of more than 1.6 million jobs. DBN currently works through 84 participating financial institutions.
In May 2026, the African Development Bank Group also approved a $61 million financing package for DBN to increase access to affordable credit for women-owned and women-led MSMEs. More than 95 per cent of that funding was earmarked for businesses owned or managed by women.
