By Oluwakemi Kindness
Nigerian businesses in fashion, film, music and design will benefit from a $75 million financing facility committed by the African Export-Import Bank (Afreximbank) to expand access to credit for small and medium-sized enterprises (SMEs).
Afreximbank said it committed the facility to the Development Bank of Nigeria (DBN), which will channel the funds through its partner financial institutions to eligible businesses.
The facility will support working capital, asset acquisition, pre-export, post-export and supply chain activities.
The bank announced the commitment pm Wedmesday during CANEX WKND 2026 in Lagos.
Its Executive Vice President, Intra-African Trade and Export Development, Kanayo Awani, said the facility would help Nigerian SMEs strengthen their productive capacity and compete in international markets.
Awani said combining financing with practical business support would help local businesses prepare for export markets and connect with buyers across Africa and beyond.
She said the partnership would help transform African creative talent and ideas into sustainable businesses capable of competing internationally.
The partnership will also combine DBN’s wholesale lending network with Afreximbank’s trade finance expertise, capacity-building programmes and market access support.
