Member News: Development Bank of Nigeria Share Results of Commitment to MSMEs
Proshare shared results of the Development Bank of Nigeria, that hosted a year-to-date business presentation on its activities since inception. Those results include N31.364bn Spent in 2018 on MSMEs and 35,000 MSMEs End-Borrowers Benefitted in 2018, among other accomplishments.
Established in 2017 the Development Bank of Nigeria is regulated by the Securities and Exchange Commission, and is licensed by the Central Bank of Nigeria.
The DBN which is designed to provide access to funding for Micro, Small and Medium Enterprises, MSMEs has the following as it core mandate;
- Provision of loans for MSMEs
- Capacity Building for MSMEs
- Providing Guarantees for MSMEs
Mr Anthony Okpanachi the Managing Director/Chief Executive of the DBN engaged the business and financial media on the activities, of the development bank and the strategies ahead.