The Development Bank of Nigeria has entered into a partnership with the African Development Bank Group on a $61 million financing package to improve access to credit for women-owned and women-led micro, small, and medium enterprises across the country.
In a statement on Tuesday, the bank said the facility is structured around three components aimed at expanding MSME financing and boosting women’s participation in key sectors of the economy, including agriculture, clean energy, and healthcare.
The package includes 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 supported through the Affirmative Finance Action for Women in Africa initiative, backed by the Women Entrepreneurs Finance Initiative.
The AfDB said over 95 per cent of the total funding is targeted at women-owned and women-led businesses, describing the intervention as part of broader efforts to close persistent financing gaps that hinder women entrepreneurs’ access to credit in Nigeria.
The funds will be channelled through the Development Bank of Nigeria’s network of Participating Financial Institutions, which will on-lend to eligible MSMEs across the country.
The structure also blends long-term financing, concessional capital, partial credit guarantees, and technical assistance, all aimed at strengthening Nigeria’s MSME ecosystem.
“The intervention aims to increase the share of women-focused lending within DBN’s MSME portfolio,” the AfDB said, adding that the initiative supports private sector-led growth and inclusive economic transformation.
The Director-General of the AfDB Country Office, Dr. Abdul Kamara, said women entrepreneurs remain a vital but underserved segment of the economy.
“This operation reflects the African Development Bank’s commitment to unlocking economic opportunities for women,” he said. “By working through DBN, we are not just expanding access to credit; we are investing in the engine of Nigeria’s inclusive economic transformation.”
