Funding: EFInA CEO Tasks SMEs to Look beyond Conventional Loans.
Akinjayeju made this call during a panel discussion titled “Access to Capital Beyond Loans: What SMEs Need to Know in 2026” at the ninth edition of the Caladium Lagos SME (CLSME) Bootcamp, held in Lagos.
Drawing on EFInA’s A2F 2026 insights, Akinjayeju noted that only about10 per cent of Nigerians had accessed formal credit, highlighting the need to improve access to appropriate financing while helping entrepreneurs make informed borrowing decisions.
She cautioned that debt could accelerate business failure if repayment obligations exceed a business’s capacity to generate cash flow.
Rather than treating borrowing as the default response to a funding need, she encouraged entrepreneurs to assess their productive capacity, identify operational bottlenecks, and determine what type of financing would address their specific challenges. “Before seeking capital, business owners need to understand their productive capacity, identify the constraints holding their businesses back and determine what financing is appropriate for their needs. The question is not simply how to get money, but how to get the right kind of capital for the right purpose,” she said. Akinjayeju outlined three considerations for SMEs seeking capital: purpose, proof and partners.
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