Afreximbank commits $75m to the Development Bank of Nigeria for small firms, including fashion, film and music
The facility, signed at CANEX WKND 2026 in Lagos, comes with export training and access to Afreximbank's trade platforms.
Lagos — The African Export-Import Bank (Afreximbank) has committed a $75 million facility to the Development Bank of Nigeria (DBN) to widen access to finance for Nigerian small and medium-sized businesses, including those in the creative economy, BusinessDay reported.
The money will be lent through DBN's network of participating banks and other financial institutions. It can pay for working capital, equipment and other assets, pre-export and post-export activity and supply-chain operations. Businesses in fashion, film, music and design are among the intended beneficiaries.
The facility was signed at CANEX WKND 2026, Afreximbank's creative-industries gathering held from 5 to 8 November at the Wole Soyinka Centre for Culture and the Arts in Lagos. Kanayo Awani, Afreximbank's executive vice president for intra-African trade and export development, and Tony Okpanachi, managing director of DBN, signed for their institutions.
More than money
Under Afreximbank's Export SME Development Programme, the loans come with capacity-building and export-readiness support. The two banks will also design a training programme for the lenders themselves, so that they are better able to finance export-oriented small firms.
Beneficiaries will get access to Afreximbank's trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the African Trade Exchange, and to market-access programmes such as the Intra-African Trade Fair.
"Nigerian SMEs need finance to invest in productive capacity and compete in new markets," Awani said. She said the aim was to help promising local businesses become sustainable exporters.
Okpanachi said the facility would give businesses in the creative and export sectors greater opportunities to build capacity and reach new markets in Africa and beyond.
Source: BusinessDay, 12 November 2026.
