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AfDB Backs Nigeria's Women Entrepreneurs With $61M Credit Boost

A game-changer for Nigeria's economy: How $61M in targeted funding is breaking barriers for women-owned businesses. From farms to clinics, opportunity knocks louder.

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1 min read
The image shows three women sitting at a table with papers, books, a bell, a mobile phone, and...
The image shows three women sitting at a table with papers, books, a bell, a mobile phone, and other objects scattered across the surface. In the background, there is a wall with windows, suggesting that the women are in a classroom or other educational setting. The women appear to be engaged in a discussion, likely discussing the importance of gender equality in Nigeria.

AfDB Backs Nigeria's Women Entrepreneurs With $61M Credit Boost

The African Development Bank Group (AfDB) has approved a $61 million financing package for Nigeria’s Development Bank of Nigeria (DBN). The funding aims to boost access to credit for small businesses, with a strong focus on women-led enterprises. Over 95% of the package will directly support women entrepreneurs across key sectors like agriculture, clean energy, and healthcare. The $61 million facility combines long-term loans, concessional funding, partial credit guarantees, and technical assistance. It includes a $50 million gender-focused line of credit, an $8 million concessional facility under the Agri-Food SME Catalytic Financing Mechanism (ACFM), and a $3 million grant through the Affirmative Finance Action for Women in Africa (AFAWA) initiative.

The funds will be distributed via DBN’s network of financial institutions to expand lending capacity for micro, small, and medium enterprises (MSMEs). Performance-based incentives are designed to increase the number of eligible women-owned businesses. The programme also seeks to raise the share of women-focused lending within DBN’s existing MSME portfolio. By prioritising women entrepreneurs, the initiative supports private sector growth and broader economic transformation. The package targets sectors critical to Nigeria’s development, including agriculture, renewable energy, and healthcare.

The financing will improve access to affordable credit for thousands of women-led businesses in Nigeria. With most of the funds earmarked for women entrepreneurs, the programme aims to strengthen the MSME ecosystem and drive inclusive economic progress. The initiative aligns with broader efforts to reduce gender gaps in business financing.

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