Swedfund Invests $30 Million in Access Bank Nigeria to Empower MSMEs

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Swedfund has invested $30 million in Access Bank Nigeria Plc to significantly scale support for underserved micro, small, and medium enterprises (MSMEs). 

This investment aims to provide long-term capital and capacity building for unbanked and under-banked businesses in Nigeria, facilitating sustainable private sector development and inclusive growth.

Nigeria, home to 230 million people, faces an unemployment rate of 33%. With over half of its population under 30, there is an urgent need for job creation and workforce development. 

The resilience and growth of MSMEs are important in addressing these challenges, especially amid ongoing crises like insecurity, food shortages, and inflation.

By Joan Aimuengheuwa.

Full story at Technology NG.