𝐀𝐟𝐫𝐞𝐱𝐢𝐦𝐛𝐚𝐧𝐤 𝐁𝐚𝐜𝐤𝐬 𝐍𝐢𝐠𝐞𝐫𝐢𝐚𝐧 𝐒𝐦𝐚𝐥𝐥 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐰𝐢𝐭𝐡 $𝟐𝟓𝐌 𝐄𝐱𝐩𝐨𝐫𝐭 𝐁𝐨𝐨𝐬𝐭
Woodhall Capital has landed a $25 million loan deal with African Export-Import Bank (Afreximbank) to help Nigerian small businesses break into export markets. The deal was signed at Afreximbank's first SME workshop in Lagos, where Kanayo Awani, Executive VP of Intra-African Trade, pointed out that 60% of African SMEs struggle to get funding. This support is crucial for Nigeria's 39 million SMEs - a number that's bigger than the population of 39 African countries. Over the past year, Afreximbank has already helped about 3,000 SMEs across 34 countries with training and market access.
Nigeria's State Finance Minister, Dr. Doris Uzoka-Anite, stressed that just giving money isn't enough - SMEs need help building skills and finding markets too. The workshop, "Nurturing African SMEs: Bridging the Barriers to Export," brought this point home. Woodhall Capital's founder, Mojisola Elizabeth Hunponu-Wusu, shared her company's growth story as proof that African businesses can go global with the right backing. With SMEs making up 90% of African business activity and providing 60% of formal jobs, this partnership between Afreximbank and Woodhall aims to turn more small African businesses into successful exporters.
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