The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, has opened applications for a $150 million offshore financing facility to support long-term capital expansion for Nigerian enterprises.
The fund, developed in partnership with German banking institution ODDO BHF SE, offers single-digit interest rate loans starting at $10 million with a minimum repayment period of 7.5 years.
Twenty percent of the overall facility has been dedicated to projects within the digital economy sector.
NACCIMA said 20 percent of the facility has been dedicated to projects within the digital economy sector.
To qualify, applicants must be registered Nigerian companies with at least three years of audited financial statements.
They must also comply with Environmental, Social and Governance, ESG, standards and maintain active membership in recognized private sector groups such as NACCIMA, the Manufacturers Association of Nigeria, MAN, or affiliated chambers.
The financing structure requires borrowers to allocate between 35 and 50 percent of requested funds to acquiring European machinery, equipment, technology, or services.
Covered sectors include manufacturing, agribusiness, energy, technology, logistics, healthcare, and mining.
According to NACCIMA, the application portal is now open online. The association said the facility is aimed at providing local businesses access to foreign capital, enhancing industrial capacity, and boosting international competitiveness.
