The Development Bank of Nigeria (DBN), in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), has launched an innovative MSME Equipment Leasing Initiative to enhance financing options for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.
In his opening remarks, DBN’s Chief Operating Officer, Bonaventure Okhaimo, described the program as a transformative alternative financing option for MSMEs, who are the backbone of Nigeria’s economic growth. “This initiative is expected to have a profound impact on the MSME ecosystem, which is a critical driver of economic growth, job, and wealth creation in our country,” Okhaimo said.
Markus Wauschkuhn, Head of Programme at GIZ Nigeria/SEDIN, emphasized the crucial role of MSMEs in Nigeria’s economy. “MSMEs play a pivotal role in propelling economic growth, contributing to job creation, innovation, and sustainable development. They serve as the backbone of the Nigerian economy with huge contributions to her GDP,” Wauschkuhn stated.
Andrew Emonuwa, Executive Secretary/CEO of the Equipment Leasing Association of Nigeria, praised DBN and GIZ for launching this initiative at a time when small businesses are struggling to stay afloat amidst current economic challenges.
The initiative aims to provide MSMEs with the necessary equipment to enhance their operations, thereby promoting economic growth and sustainability in Nigeria.
