How To Apply For NACCIMA’s $150m Nigerian Business Fund
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has opened applications for a $150 million offshore financing facility designed to help eligible Nigerian businesses expand operations through long-term funding.
The facility, launched in partnership with German banking group ODDO BHF SE, offers loans starting from $10 million at single-digit interest rates, with repayment periods of at least 7.5 years.
According to NACCIMA on its website on Sunday, seen by our correspondent on Tuesday applications are now being accepted through the dedicated online portal.
Who can apply?
To qualify, applicants must:
* Be a legally registered company in Nigeria.
* Have at least three years of audited financial statements.
* Be compliant with Environmental, Social and Governance (ESG) standards.
* Be a verified financial member of a recognised organised private sector association such as:
– NACCIMA
– Manufacturers Association of Nigeria (MAN)
– Nigerian Association of Small and Medium Enterprises (NASME)
– Nigerian Association of Small Scale Industrialists (NASSI)
– Or any recognised chamber of commerce affiliated with NACCIMA.
Eligible sectors
The financing targets businesses operating in strategic sectors, including:
* Manufacturing
* Agriculture and agro-processing
* Energy and power
* Oil and gas
* ICT and technology
* Logistics and transportation
* Infrastructure
* Mining and quarrying
* Healthcare
* Pharmaceuticals
* Real estate
* Telecommunications
* Tourism
* Consumer products
* Financial services
* Entertainment
* Retail and trade
NACCIMA also disclosed that 20 per cent of the facility has been reserved for digital economy projects.
How to apply
Applicants are required to create an account on the NACCIMA application portal and complete several stages of registration.
The application process includes:
- Company information
* CEO/Managing Director’s name
* Registered company name
* CAC registration number
* Date of incorporation
* Tax Identification Number (TIN)
* Registered and operational addresses
- Contact information
* Primary contact person
* Designation
* Official email address
* Phone number
- Chamber affiliation
Applicants must provide:
* Their chamber affiliation
* Membership registration ID
* Trustmark ID (where applicable)
- Business operations
Applicants will also be required to provide:
* Primary business sector
* Number of employees
* Annual turnover
* Gender composition of workforce
* Staff age distribution
- Financing request
Businesses must state:
* Project title
* Purpose of the financing
* Brief project description
* Total facility requested (minimum $10 million)
* Percentage allocated to European procurement
* Target market
* Description of European machinery or services to be acquired
* Proposed European country of origin
Under the programme, between 35 per cent and 50 per cent of the financing must be used to purchase approved machinery, equipment, technology or services from Europe.
Financial information required
Applicants must provide:
* Paid-up capital
* Turnover for the last three years
* Current debt exposure
* Classified debt
* EBITDA reports for three years
Documents to upload
Required documents include:
* Signed letter of intent
* Project summary
* CAC certificate of incorporation
* Audited financial statements for three years
* Proof of chamber membership
* Tax Clearance Certificates for three years
* Ownership and management profile
* Identification documents of directors and shareholders
* ESG sustainability policy (optional)
Final declaration
Before submission, applicants must confirm that:
* The facility will not be used for defence, military or speculative trading.
* At least 35 per cent of the financing will be spent on European procurement.
* The information supplied is accurate.
* The company complies with ESG standards.
* They consent to data processing under the Nigeria Data Protection Act.
According to NACCIMA, the financing initiative is aimed at improving access to long-term international capital, strengthening Nigeria’s industrial capacity and enhancing the competitiveness of local businesses in regional and global markets.
