IFC invests $100m in Nigeria’s Zenith Bank to support SMEs during pandemic

The International Finance Corporation has made an investment of up to $100 million in Nigeria’s Zenith Bank to help it increase support to clients and companies whose cash flows have been disrupted by the COVID-19 pandemic. The loan is IFC's first investment in Africa through its COVID-19 fast-track financing support package. 

Zenith will support dozens of businesses in Nigeria’s health, pharmaceuticals, food, and trading sectors, allowing them to strengthen operations, maintain employment, and access critical imports of goods, commodities, and raw materials.