The Development Bank of Nigeria is a development finance institution focused on alleviating financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria through providing financing, partial credit guarantees and technical assistance.
The Bank was started by the Federal Government of Nigeria to provide loans to Micro, Small and Medium Scale Enterprises in Nigeria. The bank does not disburse the loan to the borrower in cash but through participating intermediary banks in Nigeria.
On Tuesday , 4th of July 2023, at Lagos Continental Hotel, kofo Abayomi street,Victoria Island, Lagos State , organised it’s second edition Techprenuer Summit 2.0 , with the theme : Promoting Innovation & Sustainable Partnerships
Since 2015 , Development Bank of Nigeria, disbursed about #512B Loans to 225000 MSME through its partners, equally known aas Participatory Financial Institutions
Mr Olu Akanmu the President, Co-CEO of Opay , delivered the Key note Address, mentioned how Opay deepen Financial Inclusion of few unbank, the 45million MSME with the financial Inclusion and fair deals in partnership with the startup always because they felt shorting
There was a presentation by Fredick Nzeh from Republic Of Congo, for KAMOA
Initiative , KAMOA is empowering small business across Africa to access financial products by equipping lenders with a new standard for digital credit scoring and underwriting, to be launch soon into Nigeria space
The next session of the summit was a panel discussion, moderated by Mr Abiodun Ijawora , Head of Information Technology, Development Bank of Nigeria ,
Development Bank of Nigeria, have about 57 Participatory Financial Institutios , that includes the following, Seevest MFB, LAPO,Microvis MFB,NPF MFB PLC,BAOBAB,Astra Polaris Trust MFB, Empire Trust MFB, FSDH and more
The 2023 Eco- Innovation Challenge is ecosystem innovation competition covers Agriculture , Environment and Sustainable Energy with about 79 submissions across the nation with the following as results
For the third position , Godwin Adoga with innovative solutions for Sustainable Agriculture and earned #750000 prized money
The second position , Monica Etim Monday with Agro tech and Recycle Management and earned #1,000,000 prized money
And the winner , Charles Atere Onisimi with farming Irrigation and earned #1,500,000 as prized money
And at the end of summit the members of the Enterprenership Club held networking with some of the participants and hoping new participants in Techprenuer Summit 3.0