IFC and Africa Capitalization Fund agree USD70m SME financing deal

The International Finance Corporation (IFC) and the Africa Capitalization Fund, a private equity fund managed by IFC Asset Management Company, a wholly owned subsidiary of IFC, have agreed to provide USD70 million in convertible loans to Nigeria s Diamond Bank.

FHAN President: Funding for finance houses needs boost

The president of the Finance Houses Association of Nigeria (FHAN) has called for the need to broaden the funding of finance houses by authorising them to mobilise savings and idle funds from the public through fixed and savings deposit schemes.

Nigeria: Untapped Potential

Factorscan looks at the untapped potential of factoring in Nigeria, and finds out how factors can bridge the country s trade credit gap, to the benefit of the factor and Nigeria s small business sector alike.

UBA Growing Businesses scheme extended to SMEs

Nigerian bank United Bank for Africa (UBA) says at least 600 Small and Medium Scale Enterprises (SMEs) across Africa will benefit from a new financial scheme that is set to commence next week.