The African Export-Import Bank (Afreximbank) has committed a $75 million finance facility to the Development Bank of Nigeria (DBN) to expand access to finance for Nigerian small and medium-sized enterprises (SMEs), including eligible businesses in the creative economy.

The facility was announced during CANEX WKND 2026 in Lagos, reflecting the event’s focus on linking creative enterprises with finance, investment and markets, Afreximbank said in a joint statement with DBN on Wednesday.

Kanayo Awani, Executive Vice President, IntraAfrican Trade and Export Development, Afreximbank, and Tony Okpanachi, CEO of DBN, led the ceremonial signing on behalf of their institutions.

Ms Awani said the collaboration with DBN extends beyond providing capital, noting that Afreximbank is taking an integrated approach that combines finance with capacity building, export-readiness support and access to markets.

“Our objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to sustainable exporters,” she said.

Ms Awani said the bank will team up with participating financial institutions to strengthen their capacity to understand finance better and support SMEs throughout their growth journey.

According to her, combining finance with practical support will help businesses prepare for export markets and connect with buyers across Africa and beyond.

“For creative enterprises, that advances CANEX’s ambition to turn African talent and ideas into sustainable businesses that can compete internationally,” she said.

Mr Okpanachi said the partnership combines DBN’s wholesale lending network with Afreximbank’s trade finance expertise, capacity building and market access support, strengthening local financial institutions’ ability to serve export-oriented SMEs.

According to him, the partnership with Afreximbank shows another significant step in DBN’s commitment to expanding access to finance for Nigerian MSMEs and enabling them to build resilient, competitive and sustainable businesses.

“The $75 million facility will provide much-needed financing through our Participating Financial Institutions, while creating greater opportunities for businesses, particularly those in the creative and export-oriented sectors, to strengthen their productive capacity and access new markets,” Mr Okpanachi said.

Beyond financing, the DBN chief executive said the partnership’s capacity-building and market-access components are particularly important to stakeholders.

By strengthening financial institutions’ ability to support export-ready businesses and connecting Nigerian enterprises to wider African and international markets, the DBN CEO said the development bank is helping MSMEs advance from local businesses to competitive participants in regional and global value chains.

“This aligns strongly with DBN’s mandate to address financing constraints and support inclusive and sustainable economic growth in Nigeria”, Mr Okpanachi added.

DBN will route the loan through its partner financial institutions to fund eligible small businesses.

The facility will support working capital, asset acquisition, pre-export, post-export, and supply chain activities, with businesses in fashion, film, music, design, and the wider creative industries among the intended beneficiaries.

It will also equip beneficiaries with the skills, tools, and market knowledge needed to develop their businesses, become export-ready, and access regional and international markets.

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Alongside the financing, Afreximbank and DBN will jointly develop a capacity-building programme to strengthen PFIs’ ability to support export-oriented SMEs.

Afreximbank plans to also provide access to its trade platforms, including MANSA, TRADAR, PAPSS and ATEX, and support market access through the Africa Buyer Programme, ATDC and the Intra-African Trade Fair.

Afreximbank, a Pan-African multilateral financial institution, is mandated to finance and promote intra- and extra-African trade.

Working with the African Continental Free Trade Agreement (AfCFTA) Secretariat and the AU, the bank has set up a $10 billion Adjustment Fund to support countries that participate effectively in the AfCFTA.

At the end of December 2025, Afreximbank’s total assets and contingencies stood at over $48.5 billion, while its shareholder funds totalled $8.4 billion.

DBN is a wholesale development finance institution established to address the major financing constraints MSMEs face in Nigeria.

DBN provides long-term financing and risk-sharing support through eligible participating financial institutions, enabling them to extend appropriate, sustainable financing to MSMEs across key sectors of the Nigerian economy.

The AI industry is still reeling from Nvidia CEO Jensen Huang’s honeypot scandal, but some in the industry see it as an issue that’s much larger than one man. 

The Chinese government has been active in economic espionage for decades, and with semiconductors at the center of the AI boom, there’s intense pressure to infiltrate any company involved. At the same time, many of the executives getting rich off that boom have made themselves easy targets.

As CEO of investment intel firm Heron Intelligence, Nate Singer has a unique view into the problem. His firm works on corporate due diligence: Essentially, making sure companies know the relevant dirt before making a major acquisition or executive hire. And while the Nvidia case is particularly severe, Singer says there are lots of similar cases in the semiconductor industry that have stayed under the radar.

“We’ve got former employees talking about behavior at senior executive levels,” Singer told TechCrunch, saying executives are “really crossing lines that should not be crossed.”

In a widely circulated LinkedIn post, Singer detailed one case in which a CEO’s wife made an unexpected board room appearance, “screaming about her husband and another company exec flying around in the corporate jet with a couple young ladies (who also turned out to be state-sponsored actors).”

It’s an alarming story, but an unfortunately common one. Singer says he’s seen at least three reports of similar cases, and suspects many more have gone unreported.

“There’s a lot more than this one woman,” Singer said. “They are embedded in these companies.”

Semiconductor companies are already big targets for international trade secret theft. There have been dozens of prosecutions for similar cases in recent years, including a case involving the fabrication powerhouse TSMC in 2007. 

In 2017, four executives at an unnamed “Bay Area semiconductor equipment manufacturer” were charged with stealing trade secrets for use at a competing company in China. According to the indictment, the technology in question “related to the high-volume manufacturing of semiconductor wafers to be used in lighting and electronic devices, such as flat screen televisions and smart phones.“

Any sexual elements in such cases rarely become public, in part because of the severe consequences for executives and their companies. But according to Singer, the ongoing threat has become a kind of open secret in the industry. 

“There are a lot of senior people in the industry that know this is happening, and are effectively condoning it,” he told TechCrunch.