Afreximbank Commits $75 Million to Development Bank of Nigeria for SME Lending, Including Creative Businesses

The African Export-Import Bank (Afreximbank) has committed a US$75 million finance facility to the Development Bank of Nigeria (DBN) to expand access to finance for small and medium-sized enterprises (SMEs), including creative-economy businesses. The agreement was signed at CANEX WKND 2026, the Creative Africa Nexus event held in Lagos from 5 to 8 November. Afreximbank published its announcement on 11 November, with quotes from DBN.

How the money reaches businesses

DBN is a wholesale lender, so it will not lend to firms directly. It will route the loan through its participating financial institutions (PFIs), which will lend to eligible small businesses. The facility can fund working capital, asset acquisition, pre-export and post-export activity, and supply-chain operations. Businesses in fashion, film, music, design and other creative industries are among the intended beneficiaries. Nairametrics reports that the facility is not limited to the creative sector.

Support beyond the loan

Afreximbank and DBN will jointly develop a capacity-building programme to strengthen PFIs’ ability to support export-oriented SMEs. Afreximbank also says it will provide access to its trade platforms, including MANSA, TRADAR, PAPSS and ATEX, and market-access routes through the Africa Buyer Programme, the African Trade and Distribution Company and the Intra-African Trade Fair.

Kanayo Awani, Afreximbank’s executive vice president for intra-African trade and export development, said: “Our partnership with DBN goes beyond providing capital.”

What has not been published

The announcement does not give the interest rate, repayment period or disbursement timetable. It also does not say how many businesses will benefit or which PFIs will lend the money. Afreximbank describes the facility as a commitment, and the statement does not say how much has been disbursed.

Other money in the same week

TechCabal reports that the CANEX announcements form a wider $118 million package. Alongside the $75 million facility, it lists a separate $30 million financing arrangement, whose recipient was not named in the coverage reviewed, and a $13 million grant involving the Nigerian Export-Import Bank, the Small and Medium Enterprises Development Agency of Nigeria and Afreximbank. These components are separate from the $75 million facility and are not included in it.

What it means for businesses

For creative businesses, the money arrives as a loan routed through banks. Eligibility will depend on PFI criteria and loan terms, which were not in the material reviewed. Until those are published, the amount available to any single business cannot be estimated from the announcement.