The African Export-Import Bank (Afreximbank) has committed a $75 million finance facility to the Development Bank of Nigeria (DBN) to expand access to funding for Nigerian small and medium-sized enterprises (SMEs), including businesses in the creative economy.
The facility will be channelled through DBN’s network of participating financial institutions (PFIs) to finance eligible small businesses. It will support working capital, asset acquisition, pre-export and post-export activities, as well as supply chain operations.
Businesses operating in fashion, film, music, design and other creative industries are among the intended beneficiaries.
Announced at the CANEX WKND 2026 in Lagos, the facility underscores Afreximbank’s efforts to connect African creative enterprises with finance, investment opportunities and international markets.
Kanayo Awani, executive vice president, Intra-African Trade and Export Development at Afreximbank, and Tony Okpanachi, managing director and chief executive officer of DBN, led the ceremonial signing on behalf of their respective institutions.
In line with Afreximbank’s Export SME Development Programme, the facility will combine financing with capacity-building and export-readiness support to help beneficiary businesses strengthen their operations, improve competitiveness and access regional and international markets.
Afreximbank and DBN will also jointly develop a capacity-building programme to strengthen the ability of participating financial institutions to finance and support export-oriented SMEs.
Additionally, Afreximbank will provide access to its trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the African Trade Exchange (ATEX). The partnership will also facilitate market access through the Africa Buyer Programme, African Trade Distribution Company (ATDC) and the Intra-African Trade Fair (IATF).
‘Nigerian SMEs need finance to invest in productive capacity and compete in new markets. Through DBN’s network of participating financial institutions, this $75 million facility will help more businesses, including those in the creative economy, access the capital they need to grow and participate in export value chains,’ Awani said.
She said the partnership goes beyond providing capital by combining financing 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. At the same time, we will work with participating financial institutions to strengthen their capacity to better understand, finance and support SMEs throughout their growth journey,’ she added.
Awani said combining financing with practical business support would help enterprises prepare for export markets and connect with buyers across Africa and beyond.
‘For creative enterprises, that advances CANEX’s ambition to turn African talent and ideas into sustainable businesses that can compete internationally,’ she said.
Okpanachi described the partnership as an important step in DBN’s efforts to expand access to finance for Nigerian micro, small and medium-sized enterprises (MSMEs) and help them build resilient, competitive and sustainable businesses.
‘The $75 million facility will provide much-needed financing through our participating financial institutions, while creating greater opportunities for businesses, particularly in the creative and export-oriented sectors, to strengthen their productive capacity and access new markets,’ he said.
He said the capacity-building and market-access components of the partnership were equally important, as they would strengthen financial institutions’ ability to support export-ready businesses and connect Nigerian enterprises to wider African and international markets.
‘By strengthening the ability of financial institutions to support export-ready businesses and connecting Nigerian enterprises to wider African and international markets, we are helping MSMEs move from local businesses to competitive participants in regional and global value chains.
‘This aligns strongly with DBN’s mandate to address financing constraints and support inclusive and sustainable economic growth in Nigeria,’ Okpanachi added.
The Creative Africa Nexus (CANEX) is Afreximbank’s flagship programme for Africa’s creative and cultural industries. It seeks to develop commercially sustainable and export-ready creative businesses through access to finance, skills, markets, commercial partnerships and policy support.
CANEX WKND 2026 was held from November 5 to 8 at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos.
Organised by Afreximbank and hosted by the Federal Government of Nigeria in partnership with the African Union Commission and the AfCFTA Secretariat, the event brought together creatives, investors, buyers and policymakers from Africa, the Caribbean and the diaspora.
Its programme featured a Deal Room, sessions on financing and intellectual property, export-readiness training and business-to-business opportunities.