With high overheads and poor access to loans, SMEs are suffering. The central bank has launched several risk-sharing schemes to try to boost the sector.
Nigeria’s banking sector has turned a corner. Lenders are boasting about bumper profits, continuing a recovery since a 2009 crisis when a N400bn ($2.5bn) central bank bailout
saved nine lenders.
But banks remain cautious when it comes to lending, leading Nigeria’s small and medium-sized enterprises (SMEs) to have difficulties in mobilising funds.
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