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 small and medium-sized enterprises (SMEs), particularly businesses in the creative and export-oriented sectors.
The facility, announced at the opening of the Creative Africa Nexus Weekend (CANEX WKND) 2026 in Lagos, is expected to support Nigerian businesses in accessing finance, strengthening their productive capacity and expanding into regional and international markets.
Under the agreement, DBN will channel the funds through its Participating Financial Institutions (PFIs) to eligible businesses for working capital, acquisition of assets, pre-export and post-export financing, as well as supply chain activities.
Beneficiaries are expected to include enterprises operating in fashion, film, music, design and other segments of Nigeria’s creative economy.
The agreement was signed by the Executive Vice President, Intra-African Trade and Export Development at Afreximbank, Mrs Kanayo Awani, and the Managing Director and Chief Executive Officer of DBN, Dr Tony Okpanachi, on behalf of their respective institutions.
Speaking on the partnership, Awani said the initiative went beyond providing capital, noting that it would combine financing with capacity building, export-readiness support and access to markets.
She said the partnership was designed to help Nigerian SMEs strengthen their competitiveness, improve productive capacity and transition from local businesses into sustainable exporters.
According to her, Afreximbank will also work with participating financial institutions to improve their capacity to understand, finance and support SMEs throughout their business growth.
Awani added that the bank would provide beneficiary businesses with access to its trade platforms, including MANSA, TRADAR, the Pan-African Payment and Settlement System (PAPSS) and the African Trade Exchange (ATEX).
She said the partnership would further facilitate market access through the Africa Buyer Programme, African Trade and Distribution Company (ATDC) and the Intra-African Trade Fair (IATF).
“For creative enterprises, that advances CANEX’s ambition to turn African talent and ideas into sustainable businesses that can compete internationally,” she said.
Also speaking, Okpanachi described the agreement as another step in DBN’s commitment to improving access to finance for Nigerian micro, small and medium-sized enterprises (MSMEs).
He said the $75 million facility would provide much-needed funding through the bank’s participating financial institutions while creating opportunities for businesses, particularly those in the creative and export-oriented sectors, to expand their operations.
Okpanachi said the capacity-building and market-access components of the agreement would also help strengthen the ability of financial institutions to support export-ready businesses and connect Nigerian enterprises to wider African and international markets.
He noted that the partnership aligned with DBN’s mandate to address financing constraints, promote financial inclusion and support sustainable economic growth.
CANEX is Afreximbank’s flagship programme aimed at developing Africa’s creative and cultural industries by providing access to finance, skills, markets, commercial partnerships and policy support.
The 2026 edition of CANEX WKND was held from November 5 to 8 at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos, bringing together creatives, investors, buyers and policymakers from Africa, the Caribbean and the diaspora.
The event featured activities including a Deal Room, finance and intellectual property sessions, export-readiness training and business-to-business engagements designed to connect African creative enterprises with investment and international markets.
