DBN Urges Entrepreneurs To Focus On Capacity Building

Panelist at the second edition of the Development Bank of Nigeria (DBN), Techpreneurs Summit, has urged entrepreneurs in the country to focus on capacity building, because this will aid their access to finance. This was one of the key highlight of the well attendee event in Lagos on Tuesday,

The summit panel discussants which comprises industry experts, successful tech entrepreneurs and renowned investors share their insights on accessing debt finance, leveraging mentorship programmes and navigating the complexities of growth in the tech sector space.

This year edition of DBN Techpreneurs Summit with the theme, “Promoting Innovation and Sustainability Partnerships,” had Mr Olu Akamu, president and co-Chief Executive Officer of OPay, a SoftBank-backed fintech startup, delivered the keynote lecture on revolutionising Nigeria’s digital payment landscape, paving the way for financial inclusion and driving innovation.

Akanmu who was notable for leading Opay that helped some Nigerians to cope with the recent cash crunch as one of the fintech companies in Africa, with more than 30 million users, over 500,000 agents and 300,000 merchants. Emphasised, urgent need for collaboration among stakeholders to unlock the full potential of Nigeria’s tech industry and drive economic transformation.

The DBN Techpreneurs Summit is aimed at building high-level networks that can change the trajectory of startups. Which has afforded attendees the opportunity to connect with like-minded peers, influential investors, representatives from leading financial institutions and key government stakeholders.

The bank has provided long-term finance to over 60 Primary Financial Institutions (PFIs) since its inception. This is to address challenges confronting Micro, Small and Medium Enterprises (MSMEs) in the country.

Also the bank, as at December 2022, had provided N631 billion as financing support to the PFIs, while over 313,000 MSMEs had benefited from the support which led to the creation of more than 900,000 jobs.