November 18

Financial Inclusion: African Development Bank Group To Channel $150 Million To SMEs In Africa

The African Development Bank Group (AfDB) has said it will channel $150 million funding to Small and Medium Enterprises(SMEs) through Financial institutions (FIs) across Africa to enhance financial inclusion while also addressing barriers to SMEs funding.

This is even as the bank commended Access Bank Plc’s support in providing funding, risk sharing and non-financial services to Micro, Small and Medium Enterprises(MSMEs) through the proposed $1 billion SME Immersion Fund for Africa.

The president, AfDB, Dr Akinwumi Adesina, stated this, during the African SME Immersion Roundtable Discussion organised by Access Bank Plc in Lagos.

Photo courtesy of HP+.

Source: Leadership News (link opens in a new window)

Finance, Technology
financial inclusion, MSMEs