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Liquidity crunch hits SMEs as high interest rates curb lending

…Nigerian cost of borrowing highest in SSA

SMEs

Onyedika Ikegwuonu is a small-scale shoemaker in the sprawling city of Aba, Abia State’s industrial capital. He has been seeking N10 million loan from two of Nigeria’s tier-2 banks for the past 19 months. The banks have only been willing to give him half of this money on the condition that he must return it…

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