LAGOS/Nigeria: The Sterling One Foundation, co-conveners of the Africa Social Impact Summit, is proud to announce the Development Bank of Nigeria (DBN) as a key partner for the event’s third edition. This year’s Summit will take place on July 25-26, 2024, at the Eko Convention Centre in Lagos.
The Development Bank of Nigeria joins an impressive roster of partners, including prominent private-sector organizations, international development agencies, public-sector entities, and diplomatic bodies. Established in 2014, DBN is a wholesale finance institution dedicated to addressing the financing challenges of Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria through financing solutions and partial credit guarantees to eligible financial intermediaries.
In its six years of operation, DBN has made significant strides in supporting MSMEs. By the end of 2023, the institution had disbursed ₦787.47 billion in loans to over 494,819 MSMEs, with 356,451 of these enterprises being women-owned. The bank also supports numerous initiatives such as the Entrepreneurship World Cup, Eco Innovation Challenge, and the DBN Capacity Building Initiative.
DBN’s Managing Director and CEO, Dr. Tony Okpanachi, emphasized the bank’s long-standing involvement with the Africa Social Impact Summit. “We have been part of the Summit since its inception, with our Chief Economist as one of its panelists. We see great value in the Summit’s mission to scale sustainable solutions through increased impact investments. This platform allows us to reach more enterprises creating impactful solutions to Nigeria’s challenges and offers them ways to scale and grow,” Dr. Okpanachi stated.
Mrs. Olapeju Ibekwe, CEO of the Sterling One Foundation, expressed her enthusiasm about the partnership. “Having the Development Bank of Nigeria on board is invaluable. Their work in the MSME sector and the insights they bring are critical for our attendees. This partnership offers a significant opportunity for those looking to access credit for their impact-focused solutions,” she said.
The Africa Social Impact Summit, now in its third year, is open for in-person registration at www.theimpactsummit.org.
