Bolden African News · Thursday 15 October 2026
Cascador and Sterling Bank launch a US$200 million SME credit backstop fund in Nigeria
Nigerian accelerator Cascador and Sterling Bank launched a US$200 million SME Credit Backstop Fund that absorbs part of lenders' credit risk. Eligible businesses can initially borrow up to US$250,000 in local currency, rising to US$1 million once the fund is fully capitalised. Backstop capital is expected from philanthropies, impact investors and development finance institutions.
Why it matters
Risk-sharing structures like this aim to unlock larger, longer-term bank loans for small businesses that usually struggle to obtain credit.
Source: Tech Africa News · 15 October 2026