Loveworld Kingdom Secures $1M for African SME Fund
The organisation has secured $1 million for an investment fund aimed at businesses within its network across Africa.
Updated on Nov. 3, 2026 in Startups
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Loveworld Kingdom secured $1 million for an investment fund targeting businesses within its network, unveiled at the Loveworld Trade and Investment Forum in Accra, Ghana, in October. The statement disclosing the development was issued on Tuesday.
Why it matters
Fewer than five per cent of Nigeria's micro, small and medium-sized enterprises have access to bank credit, and the African Export-Import Bank estimates Africa's annual trade finance deficit at approximately $100bn. Many such enterprises lack the collateral and financial records needed to obtain commercial bank loans.
Loveworld Kingdom has committed $1m to its investment fund, against a backdrop in which fewer than 5% of Nigerian MSMEs access bank credit and Africa's trade finance deficit is estimated at about $100bn a year. How the $1m will be allocated across the network has not been disclosed.
The players
Loveworld Kingdom
A faith-based organisation with a network of ministries that has expanded into commerce and investment initiatives across Africa.
Stephanie Oforka
Executive Minister of Commerce at Loveworld Kingdom, who serves as convener of the Loveworld Trade and Investment Forum.
Bolaji Akinboro
Special Adviser on the Economy to Loveworld Kingdom and co-founder of the African fintech company Cellulant.
The details
The fund was unveiled at the Loveworld Trade and Investment Forum in Accra in October, and Loveworld Kingdom plans to connect business owners with potential investors, professionals and other resources through its Ministry of Commerce. Access to financing is not determined solely by membership or religious affiliation, according to the organisation.
Timeline
October: Investment fund unveiled at the Loveworld Trade and Investment Forum in Accra, Ghana.
Tuesday, preceding November 3, 2026: Loveworld Kingdom issued the statement disclosing the $1m funding.
Market Landscape
The African Export-Import Bank estimates Africa's annual trade finance deficit at approximately $100bn, a gap that private and faith-based investment vehicles such as Loveworld Kingdom's $1m fund seek to address at a small scale. The initiative sits alongside wider efforts to close the continent's credit shortfall for micro, small and medium-sized enterprises.
Entrepreneurs in the Loveworld network may gain access to investors, professionals and resources through the Ministry of Commerce. Business owners outside the network should expect no direct change, as the fund's eligibility and terms were not published.
The takeaway
Small and medium-sized enterprises seeking capital should map which lenders, investors or networks they can realistically access, since bank credit remains out of reach for most. Watch for published eligibility criteria before approaching any new fund.
Further reading
Explore more on Startups for context on how young and small African businesses are attracting funding.
Source note: This article includes information reported by Punch Newspapers.
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