Thursday, July 24, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
Home BANKING

FirstBank Partners with CDC/BII to Support Women and Small Business Owners with a US$100 million Credit Facility

Newsroom Nigeria by Newsroom Nigeria
March 9, 2022
in BANKING
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its partnership with CDC Group, the UK Government’s development finance institution on a US$100 million finance facility to FirstBank. This new facility will direct funding to women-owned and led businesses as well as to local small and medium-sized enterprises (SMEs) in Nigeria.

The deal will support FirstBank to deliver financial solutions that help to address the challenge of limited access to capital faced by underbanked and underserved groups in the country. As part of the new facility, a minimum of US$30 million will be allocated in the form of credit lines to women entrepreneurs. The facility will also support FirstBank’s ‘FirstGem’ gender-focused services offering, which takes steps to promote gender inclusion by improving lending and support to female entrepreneurs.

Related posts

Polaris Bank Empowers, Impact over 3000 Youths in Ajegunle Community at 2025 Maracana Children’s Fest

Polaris Bank Empowers, Impact over 3000 Youths in Ajegunle Community at 2025 Maracana Children’s Fest

July 22, 2025
ZENITH BANK NAMED NIGERIA’S BEST BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2025

ZENITH BANK NAMED NIGERIA’S BEST BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2025

July 21, 2025

The new partnership between CDC, which will be renamed British International Investment in April, and FirstBank demonstrates a shared mission to spur sustainable, productive and inclusive growth in Nigeria.

CDC’s commitment will facilitate an expanded offer by FirstBank to its clientele, which will accelerate financial inclusion and increase opportunities for marginalised groups, including an estimated 59 million unbanked Nigerians, to participate in the country’s formal economy. As such, the partnership will capitalise on the FirstBank’s expansive network of over 700 branches and 150,000+ agents, leveraging its market leading expertise to scale financial solutions to underbanked entrepreneurs and populations.

In addition, CDC/BII will support FirstBank with a technical assistance programme which will build on the Bank’s knowledge base of the women-led and women-owned businesses in its portfolio, strengthening the Bank’s technical capabilities and ability to reinforce its commitment to gender-based initiatives. This will enable the Bank to further leverage the facility to provide vital funding to scale business growth across Nigeria’s market – increasing job creation and improving livelihoods throughout the country.

The facility’s target to increase financial inclusion and opportunities for women, qualifies this facility under the 2x Challenge – a commitment by the development finance institutions (DFIs) of the G7 to mobilise capital to support increased economic empowerment for women in emerging economies. Moreover, the US$100 million commitment aligns with the UN’s Sustainable Development Goal 5 Gender Equality and Goal 8 Decent Work and Economic Growth.

Nick O’Donohoe, Chief Executive of CDC Group, said: “Promoting financial inclusion is a key component for advancing sweeping productive and sustainable growth across both rural and urban areas in Nigeria. This facility will channel CDC’s flexible and long-term capital toward expanding the financial solutions made available to women entrepreneurs, who are often the drivers of small business ideas and services to their communities.

“Our commitment demonstrates a deepening of British partnership with Nigeria’s businesses, as we collaborate to unlock the potential for entrepreneurial success and economic growth across the country.”

 

 

 

Adesola Adeduntan, Managing Director / Chief Executive Officer, FirstBank said: “Beyond the mutual benefits this partnership offers to both organisations, this transaction offers yet, another occasion for FirstBank to contribute immensely, to the United Nation Sustainable Development Goals.

“Enabling financial inclusion for SMEs has been a strategic priority for FirstBank over the last 128 years.  Similarly, FirstBank has been at the forefront of financially empowering women-owned and women-led businesses on the continent.  This partnership with CDC/BII offers a fantastic opportunity to accelerate the momentum

“At FirstBank, we remain ever committed to fostering financial inclusion, creating wealth for the underserved, enhancing access to quality education and health care, improving lives and empowering women.”

ShareTweetSendShareShare
Previous Post

FirstBank Partners with CDC/BII to Support Women and Small Business Owners with a US$100 million Credit Facility

Next Post

MY DARING ESCAPE FROM THE HANDS OF KIDNAPPERS IN OGUN – OLADEHINDE, NEWS EXPRESS EDITOR

Related Posts

Polaris Bank Empowers, Impact over 3000 Youths in Ajegunle Community at 2025 Maracana Children’s Fest
BANKING

Polaris Bank Empowers, Impact over 3000 Youths in Ajegunle Community at 2025 Maracana Children’s Fest

July 22, 2025
ZENITH BANK NAMED NIGERIA’S BEST BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2025
BANKING

ZENITH BANK NAMED NIGERIA’S BEST BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2025

July 21, 2025
Polaris Bank Empowers Over 500 Journalists on Modern Trends in Journalism
BANKING

Polaris Bank Empowers Over 500 Journalists on Modern Trends in Journalism

July 21, 2025
FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS
BANKING

FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS

July 18, 2025
Wema Bank’s Digital Bank, ALAT, Emerges Nigeria’s Best Digital Bank at Euromoney Awards 2025
BANKING

Wema Bank’s Digital Bank, ALAT, Emerges Nigeria’s Best Digital Bank at Euromoney Awards 2025

July 18, 2025
Empowering Women at Work: How Union Bank’s Family-Friendly Revolution Is Setting New Standards
BANKING

Empowering Women at Work: How Union Bank’s Family-Friendly Revolution Is Setting New Standards

July 11, 2025
Next Post

MY DARING ESCAPE FROM THE HANDS OF KIDNAPPERS IN OGUN - OLADEHINDE, NEWS EXPRESS EDITOR

RECOMMENDED NEWS

MOHBAD: POLICE DECLARE PRIMEBOY WANTED, PROMISE N1MILLION REWARD

2 years ago

COURT EXTENDS PROTEST RESTRICTION ORDERS IN LAGOS

12 months ago

NORTHERN GROUPS HAILS CONDUCT OF PRESIDENTIAL ELECTION, REJECTS CALLS FOR SACK OF INEC CHAIRMAN

2 years ago

GLOBAL ECONOMY WILL NOT WAIT FOR WEST AFRICA TO GET ITS ACT TOGETHER – TINUBU TELLS ECOWAS

1 month ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • AT IJEBU ODE, TINUBU PAYS TRIBUTE TO AWUJALE, EXTOLLING HIS INTEGRITY

    AT IJEBU ODE, TINUBU PAYS TRIBUTE TO AWUJALE, EXTOLLING HIS INTEGRITY

    0 shares
    Share 0 Tweet 0
  • TINUBU APPOINTS BABANGIDA CHAIRMAN OF THE BANK OF AGRICULTURE

    0 shares
    Share 0 Tweet 0
  • Kwara Court Jails Nine for Fraud

    0 shares
    Share 0 Tweet 0
  • AGF Denies FG’s Involvement In First Holdco Share Acquisition

    0 shares
    Share 0 Tweet 0
  • TINUBU SETS FIRST QUARTER 2026 TARGET FOR THE TAKE-OFF OF NATIONAL SINGLE WINDOW PROJECT

    0 shares
    Share 0 Tweet 0
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.