DBN Adopts Germany’s KFW Model of SMEs Financing

1
Development Bank of Nigeria (DBN)

The Development Bank of Nigeria (DBN) has adopted the KFW Development Bank of Germany’s model of financing the Small and Medium enterprises sector, SMEs.

The Managing Director, DBN, Mr. Tony Okpanachi, disclosed this when he received a delegation of the KFW Development Bank of Germany, in Abuja.
Okpanachi said that his team undertook a study tour to Germany in order to take advantage of the long experience of KFW in order to run a sustainable development bank in Nigeria.

Managing Director, DBN, Mr. Tony Okpanachi
Managing Director, DBN, Mr. Tony Okpanachi

“In September, we undertook a study tour to KFW to understand, because we are more like sister firms, working together. So we undertook a study tour there to be able to understand how they have been able to sustain this model for all these years.

Also read:  Book-keeping Tips Every SME Should Know

“The culmination of that is the technical support that came from them and experience sharing with us, in addition to the funding they provided for us.”

“We want the assistance to continue. They have a long history of successful operations and DBN wants to learn a lot from them. We want a continuous assistance from them. We want their willingness to support us as we continue the journey.”

The leader of the delegation and Director of West Africa and Madagascar, Mr. Michael Wehinger, expressed satisfaction over the operational model adopted by the DBN, stressing that his organisation was ready to provide more funding for the bank.

Also read:  Online Shopping in Nigeria to Hit 122m in 3years

Enjoyed What You Read? Click HERE To Join Our Priority List So You Are First To Receive Top Notch Business Article/News

1 COMMENT

  1. I like the valuable info you provide in your articles.
    I’ll bookmark your weblog and check again here frequently.
    I am quite sure I’ll learn a lot of new stuff right here!
    Best of luck for the next!

LEAVE A REPLY

Please enter your comment!
Please enter your name here