The African Export-Import Bank (Afreximbank) has committed a US$75 million finance facility to the Development Bank of Nigeria (DBN) to widen access to finance for Nigerian small and medium-sized enterprises (SMEs), including eligible businesses in the creative economy.
The facility was announced during CANEX WKND 2026, the Creative Africa Nexus (CANEX) event held in Lagos, Nigeria. It is designed to connect creative enterprises with finance, investment and markets.
How the facility will work#
DBN will channel the loan through its partner financial institutions to fund eligible small businesses. The facility will support:
- working capital
- asset acquisition
- pre-export activities
- post-export activities
- supply chain activities
Businesses in fashion, film, music, design and the wider creative industries are among the intended beneficiaries. The partnership combines DBN’s wholesale lending network with Afreximbank’s trade finance expertise, capacity building and market access support.
Capacity building and market access#
Under Afreximbank’s Export SME Development programme, the facility will pair financing with capacity-building and export-readiness support. The aim is to give beneficiary SMEs the skills, tools and market knowledge needed to become export-ready and reach regional and international markets.
Afreximbank and DBN will also jointly develop a capacity-building programme to strengthen the ability of Participating Financial Institutions (PFIs) to support export-oriented SMEs. Afreximbank will further provide access to its trade platforms, which include:
- MANSA, TRADAR, PAPSS and ATEX
- the Africa Buyer Programme, ATDC and the Intra-African Trade Fair (IATF), which support market access
Remarks from the signing#
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 institutions.
“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. 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,” said Mrs. Awani.
Mrs Awani said combining finance with this practical support would help businesses 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.”
“This partnership with Afreximbank represents another important step in DBN’s commitment to expanding access to finance for Nigerian MSMEs and enabling them to build resilient, competitive and sustainable businesses. 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,” said Dr. Tony Okpanachi, Managing Director/Chief Executive Officer, Development Bank of Nigeria.
“Beyond financing, the capacity-building and market-access components of this partnership are particularly important to us. 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,” he added.
About CANEX and CANEX WKND 2026#
The Creative Africa Nexus (CANEX) is Afreximbank’s flagship programme for Africa’s creative and cultural industries. It supports the development of commercially sustainable, export-ready creative businesses through access to finance, skills, markets, commercial partnerships and policy support.
CANEX WKND 2026 ran from 5 to 8 November at the Wole Soyinka Centre for Cultural & Creative Arts in Lagos, Nigeria. Organised by Afreximbank and hosted by the Government of Nigeria, it was delivered 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 included a Deal Room, finance and intellectual property sessions, export-readiness training and business-to-business opportunities.
