NEXIM partners Fidelity Bank, and Sapphital to grow Nigeria’s export sector

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 NEXIM partners Fidelity Bank, and Sapphital to grow Nigeria’s export sector

In a move aimed at enhancing Nigeria's foreign exchange earnings, the Nigerian Export-Import Bank (NEXIM) has unveiled a strategic partnership with Fidelity Bank Plc and Sapphital Learning Ltd, leading financial institutions. This collaboration seeks to elevate the skills and performance of export businesses in Nigeria by leveraging the NEXIM Export Academy (NEXA), an online platform that provides exporters with capacity-building training and access to finance for business expansion.


Launched in 2022 with the support of Sapphital, a digital learning institute, the NEXA platform is designed to empower businesses with the necessary resources to conduct successful export operations, ensuring higher levels of quality control and increased competitiveness in the global market. The platform aims to foster the growth of non-oil exports and foreign exchange by connecting all stakeholders along the value chain, promoting learning, improving quality, and facilitating intra-African and global trade.


During the recent Memorandum of Understanding (MOU) signing ceremony in Abuja, Mr. Abba Bello, Managing Director of NEXIM, emphasized the bank's goal to raise awareness about the accessibility of export opportunities for small manufacturers and traders. The partnership is expected to drive knowledge about export processes, documentation, and compliance requirements, supporting entrepreneurs in their pursuit of export and import businesses.


Mrs. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank Plc, expressed the bank's consistent commitment to promoting non-oil exports and capacity building within the nation's export and import sector. She sees the partnership as an opportunity to deepen conversations in the export space and, more importantly, create value for sector players.


Mr. Amu Ogbeide, Founder/CEO of Sapphital Learning Ltd, outlined the ultimate goal of the institute: to grow the export market by encouraging more people to participate and thrive.


NEXIM, established as an Export Credit Agency (ECA) in 1991, provides short and medium-term loans to Nigerian exporters, offers guarantees for loans granted by Nigerian banks to exporters, and provides credit insurance against political and commercial risks. Fidelity Bank, a full-fledged commercial bank in Nigeria, serves over 7.5 million customers through 250 business offices and digital banking channels. Sapphital Learning Ltd serves as an education alternative for individuals, teachers, employees, organizations, and business owners.

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