DBN, GIZ collaborate to deepen SME financing

The Development Bank of Nigeria (DBN) successful concern with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has strengthened financing options for micro, tiny and mean enterprises (MSMEs) successful Nigeria done an instrumentality leasing initiative.

The Chief Operating Officer of DBN, Bonaventure Okhaimo, during the unveiling astatine the company’s bureau successful Lagos, described the inaugural arsenic a game-changer for alternate financing options for MSMEs, the bedrock of economical growth.

He mentioned that the inaugural is expected to person a profound interaction connected the MSME ecosystem, which is simply a captious operator of economical growth, occupation and wealthiness instauration successful the country.

Okhaimo added that by facilitating easier entree to indispensable equipment, DBN and GIZ are straight addressing 1 of the large hurdles faced by tiny businesses, thereby enhancing their competitiveness and capableness for innovation.

“By partnering with GIZ and ELAN, we are not lone providing fiscal solutions but besides contributing to the wide maturation and sustainability of tiny businesses successful Nigeria.

“The MSME Equipment Leasing Initiative volition spell a agelong mode to span the spread successful instrumentality financing that galore tiny businesses face, thereby enhancing their productivity, competitiveness, and quality to scale. This strategical collaboration reaffirms our committedness to financing sustainable maturation and supporting the entrepreneurial ecosystem successful Nigeria,” helium explained.

Head of Programme, GIZ Nigeria/SEDIN Markus Wauschkuhn, said MSMEs successful Nigeria represent a important information of the economy, and their value to the system cannot beryllium overstated, noted that they service arsenic the backbone of the Nigerian system with immense contributions to her GDP.

“Our concern with DBN underscores our shared committedness to empowering these tiny businesses and enhancing their entree to important financing options. By focusing connected instrumentality leasing, we purpose to unlock caller possibilities for businesses to put successful cutting-edge technologies and boost their productivity.

“The Equipment Leasing Initiative is simply a testament to our dedication to fostering economical improvement and supporting entrepreneurship successful Nigeria. By providing MSMEs with indispensable tools and resources, we are enabling them to thrive and lend to a much inclusive and robust economy,” helium noted.

The Executive Secretary/CEO, Equipment Leasing Association of Nigeria (ELAN), Andrew Emonuwa lauded DBN and GIZ for creating specified an inaugural astatine a captious clip erstwhile tiny businesses are struggling to enactment afloat successful the look of existent economical realities.

“I indispensable commend the Development Bank of Nigeria and its partners for coming up with specified a originative concept. We are truthful excited astir this inaugural due to the fact that it volition deepen the penetration of leasing for MSMEs and reshape the system for sustainable growth.

“Leasing if good harnessed is simply a precise captious instrumentality to make MSMEs, beyond giving tiny concern owners entree to finance, it volition facilitate easier entree to indispensable instrumentality that volition assistance them execute greater operational success, amended productivity and trim unemployment successful the country,” helium said.