The Sterling One Foundation has announced a major partnership with the Development Bank of Nigeria (DBN) for the eagerly anticipated third edition of the Africa Social Impact Summit. This significant event is scheduled for July 25-26, 2024, at the Eko Convention Centre in Lagos.
Joining forces with prominent private-sector companies, international development organizations, public-sector entities, and diplomatic missions, DBN’s inclusion as a key partner strengthens the Summit’s mission to foster substantial investments in sustainable development across Africa.
Established in 2014, DBN is a crucial wholesale finance institution that supports the financial needs of Micro, Small, and Medium-Sized Enterprises (MSMEs) throughout Nigeria. By providing qualifying financial intermediaries with essential funding and partial credit guarantees, DBN plays a pivotal role in promoting the growth and stability of MSMEs.
Entering its sixth year, DBN boasts an impressive track record of lending to millions of MSMEs. To further support these businesses, DBN has initiated several programs, including the DBN Capacity Building Initiative, the Eco Innovation Challenge, and the Entrepreneurship World Cup. By the end of 2023, DBN had provided N787.47 billion to over 494,819 MSMEs, with 356,451 of these businesses owned by women, according to banking and finance news.
Dr. Tony Okpanachi, Managing Director and CEO of DBN, highlighted the bank’s enduring involvement with the Africa Social Impact Summit, noting its participation since the event’s inception. He emphasized the Summit’s critical role in scaling sustainable solutions through increased impact investments. “We are constantly looking to reach more enterprises, building impactful solutions that address Nigeria’s challenges, and this Summit presents a great opportunity to engage them and offer ways to scale and grow,” he stated.
Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation, expressed her excitement about the partnership, emphasizing the valuable insights DBN brings from its extensive experience in Nigeria’s MSME sector. She highlighted the potential benefits for Summit attendees seeking credit for their impact-driven projects, noting that this collaboration offers a unique chance to learn from DBN’s successful strategies.
The Africa Social Impact Summit, now in its third year, continues to be a vital forum for those dedicated to advancing social and economic progress in Africa. With a shared commitment to sustainable development, a diverse range of participants is expected at the upcoming Summit.
Registration for in-person attendance at the Summit is currently open, and interested parties can sign up at theimpactsummit.org. The event promises an enriching experience, offering valuable networking opportunities, insightful discussions, and actionable strategies for driving social impact across the continent.
COMMENTS