The African Export-Import Bank (Afreximbank) at CANEX WKND 2026 committed a $75 million finance facility to the Development Bank of Nigeria (DBN) to avail funding to Nigerian small and medium-sized enterprises (SMEs).

A statement on Wednesday by Afreximbank noted that the funds wiould also target the creatives in fashion, film, music, design as well as businesses in assets acquisition, pre-export, post-export and supply chain activities.

The vice president, intra-African trade and export development, Afreximbank, Kanayo Awani, and the DBN CEO, Tony Okpanachi, signed the contract at the opening of CANEX WKND 2026 in Lagos.

Ms Awani said, “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.” 

Mr Okpanachi thanked Afreximbank, saying the access to funding would enable MSMEs to build competitive and sustainable businesses

He added, “The $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. This partnership with Afreximbank represents another important step in DBN’s commitment to expanding access to finance for Nigerian MSMEs.”

The CANEX WKND 2026, organised by Afreximbank, was held between November 5 and 8 at the Wole Soyinka Centre for Cultural & Creative Arts in Lagos. The African Union Commission and AfCFTA Secretariat were partners for the event.