Dev’t Bank of Nigeria joins SME finance forum

The Development Bank of Nigeria (DBN) has become a member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies and development finance institutions to share knowledge, spur innovation and promote SMEs growth, a statement from DBN said.

Established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012, the SME Finance Forum was set up as a knowledge centre for data, research and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.

Accepting DBN into the forum, the Chief Executive Officer, SME Finance Forum, Matthew Gamser, said, “We are proud to have the Development Bank of Nigeria join our network of 140 members who work to expand access to finance for small and medium businesses.

“It has been discovered that 200 million businesses worldwide need financing to invest, grow and create new jobs.”

Expressing delight on the announcement of DBN’s reception into the forum, the Managing Director/ CEO of the bank, Mr. Tony Okpanachi, said, “We are excited to expand our knowledge of SME financing and believe participation in the SME Finance Forum member working groups will afford us with a plethora of networking and developmental opportunities.”