MSME financing challenges persist in India and Nigeria

Micro, Small and Medium Enterprises (MSMEs) face distinct financing challenges across different markets. In India, a comparison of major lenders including State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Tata Capital, Bajaj Finance, and Indifi reveals varying interest rates, collateral requirements, and loan capacities. Public-sector banks like State Bank of India offer rates ranging from approximately 8.00% to 14.50%, while private institutions like HDFC Bank show higher indicative rates.

In Nigeria, industry stakeholders at the Alitheia Capital 2026 Women conference highlighted a significant capital access gap for women-led MSMEs in the manufacturing and agribusiness sectors. Experts noted that women-led businesses often struggle to scale due to gaps in financial documentation and investment readiness. Ifeyinwa Ighodalo, Co-Founder of WIMBIZ, emphasized that improving financial legibility and governance is essential for these businesses to gain the credibility required to access capital.