Access Bank Secures DFIs’ USD 100 Million Facility led by German DEG for MSMEs and Gender Equality in Nigeria

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank Plc has successfully closed a USD 100 million senior loan facility with a consortium of Development Finance Institutions (DFIs), led by the German DFI DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, and supported by FinDev Canada, Amsterdam-based asset manager ILX, as well as Austrian DFI OeEB, Oesterreichische Entwicklungsbank AG.

This significant financing will support privately-owned MSMEs, small corporates, and family-owned businesses across Nigeria, with a particular focus on promoting female entrepreneurship and economic empowerment.

At least 30 per cent of the facility will be dedicated to gender lens investing in the spirit of the 2X Challenge, ensuring that women-owned and women-managed businesses are prioritised. This initiative is crucial in Nigeria, Africa’s most populous country, where supporting women entrepreneurs and MSMEs can drive job creation and contribute to reducing inequality.

Roosevelt Ogbonna, Group Managing Director of Access Bank Plc, commented on the partnership, saying:

“At Access Bank, we remain steadfast in our commitment to driving economic transformation and fostering inclusive growth across all the countries we operate. This partnership not only strengthens our ongoing efforts to empower women in business but also reinforces our support for Nigeria’s MSME sector, which plays a pivotal role in the country’s economic development. Through strategic collaborations like this, we continue to enhance opportunities for underserved communities, and we look forward to building on this success to impact even more lives across Africa.”

This facility marks the fourth collaboration between DEG and Access Bank Group, but it is also the first time in their eight-year partnership that DEG’s has acted as the lead arranger. DEG’s investment in the deal amounts to USD 25 million, strengthening the long-term relationship between the two institutions.

Also, Roland Siller, CEO of DEG shared his thoughts on the partnership, stating that:

“This financing marks a major step in our ongoing commitment to supporting inclusive growth in Africa. By partnering with Access Bank, we are not just empowering women entrepreneurs and strengthening MSMEs but also investing in the future of Nigeria’s economy. This collaboration, which has blossomed over the last eight years, goes beyond just providing funding and speaks to our shared commitment in creating sustainable, long-term opportunities that foster job creation and innovation. At DEG, we are focused on helping businesses in developing and emerging markets thrive, offering not just financial support but also advisory services that help them scale and succeed. Our work with Access Bank is a clear example of how we can build stronger economies through impactful, sustainable investments.”

In 2024, Access Bank made significant social and environmental impact across the continent, touching millions of lives and earning multiple industry accolades. Through various corporate social investment initiatives in education, entrepreneurship, health, and the environment, the Group reached over 21 million individuals across Africa. Through its W-Initiative, the Bank disbursed loans to over a million women-led SMEs, advancing financial inclusion and gender empowerment.

DL4ALL: NITDA, CISCO EMPOWER YOUTH WITH DIGITAL SKILLS

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Fifty selected young unemployed Nigerians have completed a four-week intensive digital skills bootcamp under the Digital Literacy for All (DL4ALL) initiative, gaining practical training in Data Science, Artificial Intelligence (AI), and IT Essentials.

The programme, a collaborative effort between the National Information Technology Development Agency (NITDA) and Cisco, was hosted at NITDA’s South West Zonal Office in Victoria Island, Lagos.

Speaking on behalf of the Director General of NITDA, Kashifu Inuwa , the Head of the South West Zonal Office, Mrs. Chioma Okee-Agugwo, described the initiative as a vital component of Nigeria’s digital future.

“This is not just a closing ceremony. It is the launchpad for new journeys—anchored in digital knowledge and powered by innovation,” she remarked.

According to the Director General, the initiative is rooted in NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0) and reflects key focus areas including Digital Literacy, Emerging Technologies, and Youth Empowerment. It also aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to accelerate economic diversification through digitisation, innovation, and skills development.

Inuwa noted that the DL4ALL initiative forms part of Nigeria’s broader commitment to digital inclusion—ensuring that no one is left behind in the evolving digital economy.

It also supports the ambitious goal of achieving 70% digital literacy by 2027, championed by the Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani.

This national vision aims to equip millions of Nigerians with the skills required to thrive in a tech-driven world.

He further emphasized the importance of empowering youth with globally relevant skills. “They are no longer just consumers of technology. They are creators, innovators, and future employers,” he said.

The NITDA boss explained that throughout the bootcamp, participants engaged in hands-on learning experiences designed to build both technical proficiency and digital leadership capabilities.

“This is only the beginning,” he stated. “Through our zonal strategy, we are bringing innovation closer to local communities. This is how we democratise access and unlock Nigeria’s full digital potential.”

Inuwa expressed appreciation to Cisco for delivering high-impact training and called on stakeholders to continue investing in partnerships, people, and platforms that drive digital inclusion.

He asserted that the newly certified participants are now equipped to contribute meaningfully to Nigeria’s digital economy—armed with the skills to build solutions, secure infrastructure, and launch tech ventures that solve real-world problems.

At the end of the bootcamp, participants demonstrated their knowledge through impressive presentations that showcased the integration of skills acquired across Data Science, AI, and IT Essentials. Many spoke passionately about how the programme had expanded their technical competence and sparked a drive to create job opportunities—not only for themselves but also for others—as entrepreneurs and digital solution providers in their communities.

Adjudication Kicks Off for The Nigeria Prize for Science

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Momentum is building and adjudication is set to commence for the 2025 edition of The Nigeria Prize for Science, with 112 entries handed over today to the Prize’s Advisory Board for onward transmission to the judges.

Caption: (L-R): Anne-Marie Palmer-Ikuku, Manager, Corporate Communications and Public Affairs (NLNG); Dr. Sophia Horsfall, General Manager, External Relations and Sustainable Development (NLNG); and members of The Nigeria Prize for Science Advisory Board – Prof. Barth Nnaji (Chairman), Chief Dr. (Mrs.) Nike Akande (Member), and Prof. Yusuf Abubakar (Member) during the handover of entries for the 2025 edition of NLNG-sponsored prize held in Lagos…on Tuesday.
The Nigeria Prize for Science, arguably Africa’s richest and most prestigious science award, is worth $100,000.

The 2025 edition features the theme “Innovations in ICT, Artificial Intelligence (AI) and Digital Technologies for Development,” seeking solutions to bolster Nigeria’s digital economy.

Sponsored by NLNG, the Prize attracts entries from scientists worldwide (Nigerians and Non-Nigerians) and aims to identify and reward groundbreaking innovations that advance industry and promote sustainable development in Nigeria.

At a press conference in Lagos, NLNG’s General Manager for External Relations and Sustainable Development, Sophia Horsfall, formally handed over the 112 entries to the Advisory Board, chaired by renowned scientist Professor Barth Nnaji.

The handover marks the start of a rigorous evaluation process, during which a panel of distinguished judges will assess entries based on merit, originality, and potential impact on national development.

The competition is expected to be intense, reflecting rising global interest and innovation in AI and digital technology.

In her remarks, Horsfall highlighted that this year’s theme reflects the global shift toward technological transformation.

She stated: “This year’s Prize seeks to spotlight pioneering research and bold solutions that harness technologies to empower industries, uplift societies, and transform Nigeria’s development trajectory.”

She further added: “These technologies hold immense transformative potential for Nigeria.

As Africa’s largest economy and a nation blessed with a vibrant pool of young talent, we have a unique opportunity to harness digital innovation to develop scalable, globally relevant solutions that will drive sustainable socio-economic development.”

Professor Barth Nnaji, while receiving the entries, expressed his appreciation for the number of submissions. “The Board is greatly encouraged by the volume of entries.

The 2025 competition is shaping up to be intensely competitive, and we are confident it will showcase outstanding innovation,” he said.

He emphasised the transformative power of AI and digital technologies across sectors: “AI is rapidly reshaping nearly every aspect of modern life, driving innovation, improving efficiency, and unlocking new possibilities across industries.”

He added; “ In healthcare, AI enhances diagnostic accuracy and speed through advanced imaging and predictive tools. In education, it personalises learning experiences, helping teachers address challenges early using intelligent tutors and automated assessments.

In agriculture, AI enables precision farming by analysing sensor and satellite data to improve crop management and forecast yields.

These sector-wide transformations underscore AI’s growing role as a catalyst for innovation and sustainable progress.”
Other members of the Board are Chief Dr. Nike Akande, a two-time former Minister of Industry, and Professor Baba Yusuf Abubakar, a professor of quantitative genetics and animal breeding.

The Prize continues to champion innovation, creativity, and scientific excellence as key drivers of Nigeria’s development, while fostering a culture of research that positions the country at the forefront of global innovation.

The winning entry for the 2025 Prize will be unveiled at a world press conference scheduled for September.

Caption: (L-R): Anne-Marie Palmer-Ikuku, Manager, Corporate Communications and Public Affairs (NLNG); Dr. Sophia Horsfall, General Manager, External Relations and Sustainable Development (NLNG); and members of The Nigeria Prize for Science Advisory Board – Prof. Barth Nnaji (Chairman), Chief Dr. (Mrs.) Nike Akande (Member), and Prof. Yusuf Abubakar (Member) during the handover of entries for the 2025 edition of NLNG-sponsored prize held in Lagos…on Tuesday.