In a significant move poised to reshape the landscape of female-led businesses and micro, small, and medium-sized enterprises (MSMEs) in Nigeria, Access Bank Plc has secured a $100 million loan facility from a consortium of global Development Finance Institutions (DFIs).
The consortium led by Germany’s DEG, and including FinDev Canada, ILX (Netherlands), and Austria’s OeEB has backed Access Bank with this funding to expand financial support for MSMEs, with a strategic focus on empowering women entrepreneurs.
At least 30% of the $100 million facility is earmarked for gender-lens investing, aligning with the global 2X Challenge, which promotes women’s economic empowerment. For female business owners and aspiring entrepreneurs, this opens a rare window of opportunity to access funding tailored to their needs and challenges.
Roosevelt Ogbonna, CEO of Access Bank, highlighted the importance of the deal, stating,
“This partnership not only strengthens our ongoing efforts to empower women in business but also reinforces our support for Nigeria’s MSME sector.”
This initiative reflects a growing recognition of the central role women and small businesses play in driving inclusive economic growth and job creation.
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A Proven Commitment to Impact
This is the fourth collaboration between Access Bank and DEG in the last eight years, and their first with DEG as lead arranger. DEG alone is contributing $25 million to the facility. The funding will be directed toward privately-owned MSMEs, small corporates, and family-run businesses—especially those led by women.
For many small business owners struggling with limited access to traditional finance, this development could be transformative.
Roland Siller, CEO of DEG, emphasized the broader vision:
“This financing marks a major step in our commitment to supporting inclusive growth in Africa. It’s about creating sustainable, long-term opportunities for innovation and job creation.”
Why This Matters for the Entrepreneurial Ecosystem
Access Bank is no stranger to promoting financial inclusion. In 2024 alone, it reportedly impacted over 21 million individuals through social investment programs spanning education, health, environment, and entrepreneurship. The bank’s W-Initiative, which supports women-led SMEs, has already empowered over one million female entrepreneurs.
This latest funding round reinforces Access Bank’s role as a cornerstone in Nigeria’s entrepreneurial ecosystem, with a bold focus on closing the gender gap in business funding.
If you’re a female entrepreneur or an MSME owner in Nigeria, now is the time to stay informed and explore new funding avenues. Initiatives like this offer not just capital but also confidence in the potential of your business to scale and thrive.
Smartpreneur will continue to follow the rollout of this facility and share practical steps on how you can tap into these opportunities.
