Okpanachi: MSMEs Have Huge Financing Needs


Tony Okpanachi

The Managing Director, Development Bank of Nigeria, Mr. Tony Okpanachi, in this interview says with a strong on-boarding exercise it carried out within the year, the Bank currently has a total of 29 participating financial institutions. He speaks about the determination of the institution to ensure that micro, small and medium scale enterprises continue to get the required financial support. Obinna Chima presents the excerpts:

Can you give us an overview of what the DBN does?

The Development Bank of Nigeria (DBN) is a wholesale development finance institution. We were set up to provide and elevate the funding need of micro small and medium enterprises (MSMEs). So, essentially we focus on providing long-term finance to micro small and medium enterprises. Our mandate is in three fold – we do lending activities and that is wholesale lending funds to financial institutions to on-lend to MSMEs. That is one of our investment angle and which…

Source: Thisday Newspaper