The African Export-Import Bank (Afreximbank) has committed $75 million to the Development Bank of Nigeria (DBN) to expand access to financing for small and medium-sized enterprises (SMEs), including businesses in Nigeria’s creative and export-oriented sectors.
The financing facility is expected to help eligible businesses secure working capital, acquire productive assets, finance export transactions and strengthen their participation in regional and international supply chains.
The commitment was announced on Wednesday, November 11, 2026, following the signing of an agreement between the two 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 institutions.
Under the arrangement, DBN will channel the $75 million facility through its participating financial institutions (PFIs), which will make the funds available to eligible businesses.
The targeted beneficiaries include enterprises in fashion, film, music, design and other creative industries, alongside businesses operating in other productive sectors.
The financing forms part of Afreximbank’s Export SME Development Programme, which combines access to capital with capacity-building initiatives and export-readiness support to help African businesses improve their competitiveness and access new markets.
Beyond the funding, Afreximbank and DBN will jointly develop a capacity-building programme to strengthen the ability of participating financial institutions to provide appropriate financing and support to export-oriented SMEs.
Beneficiary businesses will also gain access to Afreximbank’s trade facilitation platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the Africa Trade Exchange (ATEX).
The partnership will further provide opportunities for market access 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 deliver more than financial support by combining funding with business development and market access opportunities.
“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 agreement as a significant step towards addressing financing constraints confronting Nigeria’s micro, small and medium-sized enterprises (MSMEs).
He said the facility would provide much-needed funding through DBN’s network of participating financial institutions while creating opportunities for businesses, particularly those in the creative and export-oriented sectors, to expand their productive capacity and reach new markets.
“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.
According to him, the technical assistance and market-access components of the partnership are equally important because they will strengthen the capacity of financial institutions to support export-ready businesses.
He added that the initiative would help Nigerian MSMEs transition from operating primarily in domestic markets to becoming competitive participants in regional and global value chains.
The partnership aligns with DBN’s mandate to address financing gaps, improve access to affordable credit and promote inclusive economic growth through sustainable support for smaller businesses.
The latest commitment adds to a growing portfolio of development financing interventions targeting Nigeria’s MSME sector.
In June 2026, DBN disclosed that it had disbursed more than N1 trillion to over one million MSMEs since commencing operations, supporting the creation of more than 1.6 million jobs.
The bank currently works through a network of 84 participating financial institutions to extend financing to businesses across the country.
Similarly, 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.
More than 95 per cent of that facility was earmarked specifically for businesses owned or led by women.
The additional $75 million Afreximbank commitment is expected to strengthen DBN’s capacity to address persistent funding constraints among Nigerian businesses while supporting enterprise development, job creation and the expansion of non-oil exports.
