AfCFTA Financing Initiatives

Types of Funding and Eligibility Clause

Institution:  
African Development Bank
 
Purpose:  
NSGLs are either loans made to public sector enterprises, without the requirement of a sovereign guarantee by the host government, or to private sector enterprises in selected countries known as the Regional Member Countries (RMCs) provided that they meet outlined eligibility criteria. They are disbursed in currencies that are in sufficient demand, such as USD, EUR, JPY and ZAR.
 
Loan Tenor:  
Up to 15 years
 
Eligibility/Selection Criteria:​
1. Public Sector Companies of ADB without a sovereign guarantee and Private Sector Companies in all Regional Member Countries. 

 

To Apply:  
Submit your enquiries and application to fist2@afdb.org  

 

Institution:
Central Bank of Nigeria

Purpose:
1. Working Capital
2. Acquisition of plant and Machinery

Loan Tenor:
Up to 10 years.

 

Eligibility/Selection Criteria:
1. Company should be viable, innovative, and have a positive financial performance evidenced by three years audited report. Company directors should also be creditworthy.

2. Source over 50% raw materials locally and ensure that over 80% of jobs created are allocated to Nigerians.

3. Demonstrate a commitment to job creation by providing a detailed plan for workforce training to enhance productivity and equip employees with the necessary skills.

4. Exhibit potential in operating sector by demonstrating alignment with focal business activities and a strong integration into the global export value chain.

5. Show a positive impact on key macroeconomic indicators, including potential contribution to GDP, foreign exchange earning potential, and export value potential.

 

To Apply:
Submit your enquiries and application to participating financial instruments (commercial banks)
Notify CBN of submitted applications via

Institution:
African Export–Import Bank (AFREXIMBank)

Purpose:
Provide capital to the public and the private sector to facilitate the implementation of the African Continental Free Trade Agreement.

Loan Tenor:
Not Stated

 

Eligibility/Selection Criteria:​

All Afreximbank member countries are eligible for FEDA investment, provided they meet country selection criteria.  The Fund Manager will work with set criteria to determine sectors that have the greatest potential for intra-African trade and export development in each member country. 
 
To Apply:  
Submit your enquiries and application to  https://customer-portal.afreximbank.com  
 
Institution:
African Export–Import Bank (AFREXIMBank)

Purpose:
To finance and facilitate intra and extra African Trade

Loan Tenor:
Depends on specific finance programme.
 
Eligibility/Selection Criteria: 
This also depends on specific trade finance programme 
 
To Apply:  
Submit your enquiries and application to gdfi@afreximbank.com. For further information, visit https://www.afreximbank.com/products-services/our-key-services/trade-project-financing/trade-finance-programs/

Institution:
African Export–Import Bank (AFREXIMBank)

Purpose:
Support African countries and the private sector to effectively participate in the new trading environment established under the AfCFTA.

Loan Tenor:
Not Stated

 

Eligibility/Selection Criteria: 
This was not stated. 
 
To Apply:  
Submit your enquiries and application to https://customer-portal.afreximbank.com/en 
Institution:​
​Bank of Industry (BOI) 
 
Products:  
Fashion and Beauty, Light Manufacturing, and Food and Agro Commodity Processing  
 
Loan Tenor:  
Depends on finance products  
 
Eligibility/Selection Criteria: 
This depends on the finance facility.
 
To Apply:  
Submit your enquiries and application to www.boi.ng/loan-application-checklist 

Available sources 

There are numerous available sources for financing initiatives in the context of trade facilitation. Here are 
some notable organizations and resources that offer such support for the African Continental Free Trade 
Area (AfCFTA):
 
Eligibility/Selection Criteria
1. AFREXIM: The African Export-Import Bank provides various financial instruments, including trade finance, guarantees, and loans, to support intra-African trade and export development.
 
2. NEXIM: The Nigerian Export-Import Bank offers financial assistance, such as loans, guarantees, and advisory services, to promote non-oil exports and stimulate export-oriented projects.
 
3. CBN: The Central Bank of Nigeria plays a significant role in trade facilitation by providing initiatives such as grants, loans, and incentives to boost non-oil exports and support exporters.
 
4. AFDB: The African Development Bank Group provides financial solutions, including trade finance and guarantees, to enhance trade competitiveness and facilitate cross-border transactions.
 
5. Commercial Banks: Various commercial banks offer trade finance services, including letters of credit, export financing, and working capital solutions, to facilitate international trade.
 
6. Deposit Money Banks (DMBs): DMBs in Nigeria also contribute to trade facilitation by providing financing options and trade-related services to businesses engaged in international trade.
 
7. BOI: The Bank of Industry offers financial support in the form of loans, guarantees, and equity financing to enhance the export capacity of businesses.
 
8. ITC: The International Trade Centre provides trade-related capacity-building programs, advisory services, and technical assistance to enhance the export capabilities of businesses.
 
These sources offer a range of financial tools, capacity-building programs, and support services to facilitate trade and help businesses thrive in the global marketplace.

Fully Funded Training

The following are fully funded training accessible as facilitations to best improve the trading experience. 

Central Bank of Nigeria (CBN) Entrepreneurship Development Centers (EDCs):
The Central Bank of Nigeria has established Entrepreneurship Development Centres (EDCs) in six regions aimed at building capacity for wealth creation, employment generation, and complementing government efforts. These centers target unemployed graduates from universities, polytechnics, colleges of education, and secondary schools. Below, you can find information about the top EDCs and their respective websites.

Capacity Building Programs

NEPC Export Support Programmes

Nigeria-Africa Trade and Investment Promotion Programme (NATIPP)

Learning Management System (Export Training Programs ETPs)