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From Fred Itua, Abuja
BAS Capital and BAS Finance, the investment banking and lending arms of BAS Group, have been named SME Investment Bank of the Year and SME Lender of the Year respectively at the 2026 BusinessDay Banking and Financial Institutions (BAFI) Awards.
The awards were presented on 9 October at The Civic Centre in Lagos, marking the second successive year in which companies within the Nigerian financial services group have been recognised at the annual ceremony.
According to the group, BAS Finance disbursed ₦55 billion to more than 120 businesses over nine months, while BAS Capital closed more than 25 transactions valued at over ₦50 billion in 2026. The recognition, the group said, underscored the importance of matching both the availability and the suitability of capital to the specific needs of small and medium-sized enterprises.
Nigeria’s SMEs make a substantial contribution to economic output and employment, yet many continue to struggle with access to formal credit. High interest rates, protracted approval processes and stringent collateral requirements remain significant barriers.
Estimates of the SME financing gap put the shortfall at around ₦13 trillion — approximately 17 per cent of gross domestic product — a figure cited at the 2025 Chartered Institute of Directors Annual Directors Conference.
Group Chief Executive Officer Abdulateef Hussein noted that many businesses require financing structured around their actual operations and growth plans rather than standard lending products.
“The question is not only whether capital exists. It is whether anyone has done the work of matching it to the business in front of them,” he said.
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A manufacturer with a confirmed order, for instance, may need short-term working capital, while a firm preparing for an acquisition may require structured growth finance rather than a conventional overdraft.
BAS Capital, which received the SME Investment Bank of the Year award, specialises in capital-raising and advisory services for companies that have outgrown traditional bank lending but remain below the size threshold typically served by larger investment banks. It structures transactions and mobilises funding from institutional and development finance sources rather than deploying capital primarily from its own balance sheet.
Managing Director Yinka Adetuberu observed that many growing businesses possess viable markets and clear expansion plans but lack institutions prepared to structure financing at their scale. “The companies we work with are not short of ambition or of a market. They are short of someone willing to do the structuring work at their size,” he said.
The firm completed more than 25 transactions worth over ₦50 billion in 2026.
BAS Finance, named SME Lender of the Year, focuses on businesses that may not meet conventional bank lending criteria. Its model emphasises financing linked to receivables and productive assets, thereby reducing reliance on traditional collateral that many owners cannot provide.
The company disbursed ₦55 billion to more than 120 businesses in nine months, with an average transaction size of ₦2 billion and a median disbursement period of seven days. Through Zuvy Technologies, acquired in 2025, it also offers invoice-backed financing to suppliers serving large corporate clients.
Managing Director Adnan Kayode stressed that effective SME lending is first an underwriting challenge. “Lending to a small business well is an underwriting problem before it is a capital problem,” he said, adding that the firm’s approach enables faster risk assessment and timely access to funds.
