Why CBN rate cuts don’t mean more SME lending

T2Covered by 1 source · first reported by Africa: TechCabal / Techpoint Africa / TechCentral / WeeTracker / Ventureburn at 28 Sept, 08:57 UTC

For a small business in Nigeria, securing a bank loan has long felt like trying to step through a moving doorway. Commercial banks mobilise deposits, and the Central Bank of Nigeria (CBN) urges them to extend credit, yet formal lending to small businesses remains low.