Report: Black-owned Businesses Face $131bn Funding Gap in Nigeria

A new report by British International Investment (BII) and Swedfund estimates that Black-owned and led businesses in Nigeria face a funding gap of $131 billion, the largest among five African countries studied. The report, titled 'Understanding the Investment Gaps in Black-owned and -Led Businesses in sub-Saharan Africa,' places the combined financing shortfall across Nigeria, South Africa, Kenya, Senegal, and Côte d'Ivoire at $209 billion. South Africa has the second-largest gap at $45 billion, followed by Kenya with $23 billion, Senegal with $5.7 billion, and Côte d'Ivoire with $4.6 billion. The study combined quantitative market analysis with stakeholder consultations to examine the representation of Black-owned businesses.

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