AfDB Approves $61m Facility To Scale Credit Access For Nigerian Women Entrepreneurs

The African Development Bank Group (AfDB) has approved a $61 million financing package aimed at expanding access to affordable credit for women-owned and women-led businesses in Nigeria, in a move designed to close gender financing gaps and strengthen inclusive economic growth.
The approval, confirmed in a statement issued by the bank on Friday in Abuja, was granted by the AfDB Board of Directors. The facility will be implemented through the Development Bank of Nigeria (DBN) to support women entrepreneurs, with a strong emphasis on agriculture and other key growth sectors.
According to the Bank, the package comprises a $50 million gender-focused line of credit, an $8 million concessional facility under the Agri-Food SME Catalytic Financing Mechanism, and a $3 million grant under the Affirmative Finance Action for Women in Africa (AFAWA) initiative.
“It also consists of a three-million dollar grant under the Affirmative Finance Action for Women in Africa initiative,” the statement said.
The AfDB said the financing structure is designed to strengthen lending to Micro, Small and Medium Enterprises (MSMEs) through DBN’s network of participating financial institutions, with more than 95 per cent of the funds specifically earmarked for women-owned and women-led enterprises.
Abdul Kamara, Director-General of the AfDB Nigeria Country Department, described women entrepreneurs as central to Nigeria’s economic transformation.
“Women entrepreneurs are one of Nigeria’s greatest economic assets and one of its most underleveraged sectors.
“This operation reflects the AfDB’s commitment to unlocking economic opportunities for women. By working through DBN to reach women-owned businesses in agriculture, clean energy, healthcare and beyond, the bank is investing in the engine of Nigeria’s inclusive economic transformation,” he added.
The AfDB said the intervention will combine long-term financing, concessional resources, partial credit guarantees, and capacity-building support to improve women’s access to finance.
It further noted that the initiative aligns with its broader strategy to narrow Africa’s gender financing gap and accelerate private sector-led growth.
According to the bank, performance-based incentives under the AFAWA programme are expected to expand the number of eligible women-owned enterprises and deepen women-focused lending within DBN’s MSME portfolio.
The AfDB also reaffirmed its longstanding partnership with the Development Bank of Nigeria, noting that the collaboration dates back to its support for the institution’s establishment through equity investment, financing, and governance support.
It added that the operation is consistent with the AfDB’s Ten-Year Strategy (2024–2033) and Nigeria’s Country Strategy Paper (2025–2030), both of which prioritise inclusive growth, gender equality, and youth-driven green development.
The African Development Bank Group is an international financial institution focused on development financing across Africa.
African Development Bank Group