Development Bank of Nigeria Plc

Development Bank of Nigeria Plc is a key player in the finance, financial services, and banking industries in Nigeria. Established in 2017, the organization's objective is to alleviate financing constraints faced by MSMEs and small corporates in Nigeria. In collaboration with global development partners such as World Bank (WB), African Development Bank (AfDB), KfW Development Bank, French Agency for Development (AFD), and European Investment Bank (EIB), they provide financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis. Notably, $70.00M in venture round investment was secured on 19 April 2018, with the primary investors being the African Development Bank and the European Investment Bank. Overall, Development Bank of Nigeria Plc is dedicated to addressing the major financing challenges faced by MSMEs in Nigeria and has attracted significant support from prominent global financial institutions.