The African Export-Import Bank (Afreximbank) has committed a US$75 million finance facility to the Development Bank of Nigeria (DBN) to expand lending to small and medium-sized enterprises, including businesses in the creative economy. The agreement was announced in Lagos on 11 November 2026, during CANEX WKND 2026.

DBN will route the money through its partner financial institutions, which will lend to eligible small businesses. The facility will support working capital, asset acquisition, pre-export and post-export financing, and supply chain activities, with businesses in fashion, film, music and design among the intended beneficiaries.

Finance plus training for small firms

The facility will combine lending with capacity-building and export-readiness support under Afreximbank's Export SME Development programme. According to Afreximbank, the support is intended to equip beneficiary businesses with the skills, tools and market knowledge needed to strengthen their operations, become export-ready and reach regional and international markets.

The Creative Africa Nexus (CANEX) is Afreximbank's flagship programme for Africa's creative and cultural industries. CANEX WKND 2026 was held from 5 to 8 November at the Wole Soyinka Centre for Cultural and Creative Arts in Lagos, and the facility was announced during the event.

Who signed the deal

The ceremonial signing was led by Mrs Kanayo Awani, Afreximbank's Executive Vice President for Intra-African Trade and Export Development, and Dr Tony Okpanachi, Managing Director and Chief Executive Officer of DBN. The two displayed the signed agreements at the official opening of CANEX WKND 2026 in Lagos.

DBN is a wholesale development finance institution established to address the financing constraints faced by micro, small and medium-sized enterprises in Nigeria. It does not lend directly to businesses; instead it channels funds through partner banks and other financial institutions.

Part of a wider package

The US$75 million facility is one part of a wider US$118 million package that also includes a US$30 million financing arrangement and a US$13 million grant involving Afreximbank and the Nigerian Export-Import Bank (NEXIM), according to Dealroom. Afreximbank has also committed up to US$2 billion for Africa's creative industries through 2027.

Some details of the facility have not been disclosed. The bank's statement does not give the interest rate, the repayment period, an application deadline or how much of the money has been disbursed, so small businesses will need to watch for further announcements from DBN and its partner lenders on how to apply.

What it means for Nigerian small businesses

Access to finance is one of the biggest constraints facing Nigerian small firms, and the facility is aimed at businesses that struggle to borrow from commercial banks, including creative businesses whose income can be irregular. By routing the money through DBN's partner institutions and pairing it with export-readiness training, Afreximbank and DBN aim to help more small firms grow, hire and sell beyond Nigeria's borders.