NEXIM bank identifies alternative funding for MSMEs

Nigerian Export-Import Bank (NEXIM Bank) says it is making deliberate efforts to develop an alternative source of funding for the Micro, Small and Medium Enterprises (MSMEs) operators through factoring services.
The Managing Director, NEXIM Bank, Abba Bello, disclosed this on Wednesday at the ongoing Nigeria @ 60 Exhibition of Made in Nigeria Products and Cultural Display, in Abuja.
The exhibition is organised by the Inter-Ministerial Committee on the Nigeria @ 60, in collaboration with Business Visa and Trainings Co. Ltd.
Bello, in a presentation entitled “The Fundamentals of Branding and Financing Made in Nigeria Products for Export” stated that it was developing the funding in collaboration with Afreximbank and the Factor Chain International.
“We are also working to bridge the maritime infrastructure gap, thereby improving trade connectivity for coastal and hinterland trade by facilitating the Sealink Project, expected to take off before the end of 2021,’’ he said.
He urged exporters and entrepreneurs to seize the opportunity of the products and services offered by NEXIM bank to enhance their businesses and grow Nigeria’s non-oil export basket.
In furtherance of its mandate and towards preparing Nigerian exporters for the African Continental Free Trade Area (AfCFTA), he highlighted some products and services being offered by NEXIM…


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