Nigeria: FG approves $20m tech fund for young innovators, N90b soft loan facility to be provided for small scale agric enterprises

In furtherance of the Buhari administration’s drive to support Micro, Small and Medium Enterprises (MSMEs), the Bank of Industry has approved a $20M technology fund for young innovators, while the Central Bank of Nigeria (CBN) is offering a N90 Billion soft loan facility for small scale agriculture enterprises.

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FirstBank takes its SMES Business Clinic to Port-Harcourt and Abuja

In recognition of the significant role SMEs playinachieving sustainable growth and development in the economy of the country, Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited would host SMEs in its 2020 second edition of the SME Business Clinic. The event themed “Building a sustainable Business” would be held on 25th and 27th February 2020 in Port-Harcourt and Abuja respectively.

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Nigerian start-up is one sip closer to share of $1m Chivas Venture Fund

Social enterprise, Soupah, is preparing to go head-to-head in a series of spirited pitches with 25 of the hottest start-ups from around the world. Ifeoluwa Olatayo and her business Soupah has won the Nigerian final of the Chivas Venture; a global competition from leading blended Scotch whisky Chivas that gives away $1 million in no-strings funding every year to social businesses that blend profit and purpose to have a positive impact on the world.

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IFC supports NSIA Banque Côte d’Ivoire’s 1st securitization to boost finance for SMEs

IFC, a member of the World Bank Group, today announced an investment of up to XOF17.5 billion (approximately $30 million) in a securitization by NSIA Banque Côte d’Ivoire. The landmark transaction is the first securitization of loans originated by a commercial bank in the West African Monetary Union and the first with a scheduled maturity of 5-years.

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