Bank of Industry signs $30m AFD facility for creative industries
Financing · announced$30mWednesday 28 October 2026
The Bank of Industry and France's Agence Française de Développement signed a $30 million credit facility. The facility is intended to support Nigeria's creative and cultural industries.
It is a new DFI credit line to a Nigerian development bank aimed at a specific priority sector.
The Bank of Industry has secured more than €2.22 billion and N250 billion in new funding from transactions concluded between 2024 and 2026. The development lender says the funds will help close Nigeria's industrial financing gap.
The Bank of Industry said it disbursed N644.9 billion to 12,501 businesses in 2025, up 26% from N510.9 billion in 2024. The bank also reported creating or supporting 1.68 million jobs and set a target of N1.35 trillion in annual lending by 2027.
Nigeria-focused fintech OPay sold 16 million American depositary shares at $19 each, raising $300 million and valuing the company at about $4 billion. It rang the NYSE opening bell, but ThisDay reports that trading was temporarily held over an outstanding regulatory clarification in a foreign jurisdiction.
Fidelity Bank repaid its 5-year $400 million senior unsecured notes at maturity, having issued them on October 28, 2021. The payment shows the bank meeting its international debt obligations.
OPay is seeking to raise up to $370 million through an initial public offering of American Depositary Shares in New York. The offer could value the digital payments firm at $4.4 billion.
