BOI, GIZ Seals Strategic Partnership To to Unlock Funding, Skills for Nigerian Businesses
- BOI and GIZ signed a partnership agreement to boost MSMEs' renewable financing and capacity building
- The deal will also provide small businesses with market access and entrepreneurship development in Nigeria
- There will also be business support systems, enhance skills, and drive sustainable economic growth
Bank of Industry (BOI) and the German Agency for International Cooperation (GIZ), on Wednesday, April 15, 2026, signed a Partnership Framework Agreement to drive sustainable innovation and economic development for large enterprises, and Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria.
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The partnership is hinged on delivering coordinated interventions across key strategic pillars, including access to finance, entrepreneurship development, capacity building, and market access; integrating focused support for climate finance and renewable energy investments; and achieving robust alignment with global sustainability priorities that enable MSMEs to serve as engines of economic development.
Why is the deal important?
Vanguard reports that With this landmark agreement, BOI and GIZ are positioned to mutually ensure that capacity building efforts for businesses focuses on strengthening the technical and institutional capabilities of BOI’s Business Development Service Providers (BDSPs), equipping them to deliver higher-impact advisory services to the Bank’s customers; as well as enshrine a structured vocational training provided under the ICSS (Inspire, Create, Start and Scale) entrepreneurship programme to enhance productivity, workforce quality and overall business competitiveness to MSMEs.
The central pillars of this year’s partnership framework are women’s economic empowerment through targeted financing initiatives; agribusiness development and rural enterprise growth; and the climate-focused investment imperative to scale its renewable energy and energy efficiency financing portfolio.
BOI will strategically deepen its efforts to secure endorsement with the Green Climate Fund (GCF) with support from GIZ, a German-led development agency.
Speaking at the announcement ceremony, MD/CEO, Bank of Industry (BOI), Dr. Olasupo Olusi, said
“This partnership is about closing the gap between enterprise potential and enterprise reality.
Too many Nigerian businesses, particularly MSMEs, have the ideas, the drive, and the market opportunity, but lack the financing, technical capacity, or market access needed to scale."
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He noted that the partnership reflects our unwavering commitment to constantly form new partnerships to strengthen the entrepreneurial ecosystem in Nigeria, th Nation reports.
Olusi added:
"By combining our financing expertise with our partner’s international development experience, we are building a comprehensive framework that will directly translate into jobs, innovation, affordable, long-term financing and sustainable growth for MSMEs in Nigeria.”
In his remarks, Country Director, GIZ Nigeria and ECOWAS, Magnus Wagner, said:
“This partnership demonstrates our joint commitments to strengthening Nigeria's private sector and to advancing sustainable and inclusive economic growth.
"Through this partnership, we aim to support small and medium enterprises. We are trying more to look at SME, formalized business, which is the resilient backbone of Nigeria's economy. So, we would like to work, we have decided in areas such as climate and sustainable finance, renewable energy and energy efficiency, entrepreneurship and innovation, women's economic empowerment, agribusiness and rural transformation, and digital trade and market access.
"We look forward to a close and successful collaboration with the Bank of Industry, one that delivers tangible results for business, communities, and the country and the population as a whole”.
CBN grants new license to BOI for non-interest banking
Legit.ng earlier reported that the Bank of Industry, BOI, has secured regulatory approval from the Central Bank of Nigeria, CBN, to operate a Non-Interest Banking, NIB, window, marking a significant expansion of its mandate at a time when Nigeria’s banking sector is undergoing a sweeping recapitalisation exercise.
The approval positions BOI to deepen ethical and inclusive financing across the economy, while strengthening its role as Nigeria’s leading development finance institution.
Source: Legit.ng
