Nigerian Bank of Industry raises $5B, expands services, and offers a N1B fund for small businesses.

The Bank of Industry (BOI) in Nigeria has seen significant growth, raising $5 billion from international markets and increasing its share capital by N500 billion over 16 years. It now operates in 33 states and has partnered with SMEDAN to offer a N1 billion fund for small businesses at low interest rates. BOI has also secured a €2 billion funding package to support infrastructure and industrial projects, aiming to expand its services nationwide by early 2025.

November 22, 2024
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