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Cascador And Sterling Bank Launch $2M Fund To Redefine SME Lending In Nigeria

Cascador, Nigeria’s premier accelerator for mid-stage entrepreneurs, has announced a landmark partnership with Sterling Bank to launch a bold new debt funding model to unlock growth for Africa’s most promising ventures.
Backed by a $2 million Catalytic Fund, the partnership introduces flexible, founder-friendly financing for Cascador alumni; pairing low-interest debt with business mentorship, tailored repayment terms, and dramatically reduced collateral requirements.
“This is a breakthrough moment for Cascador and for the entrepreneurs we serve,” said Dave DeLucia, Founder of Cascador. “Through our partnership with
Sterling Bank, we’re deploying capital in a way that’s truly catalytic -pairing mentorship and education with access to capital that’s structured around the real-life cash flows of growing
businesses.”
Sterling Bank will serve as fund custodian and structuring partner, offering entrepreneurs access to a diverse portfolio of instruments, from equipment loans to revenue-based financing, designed for mid-stage SMEs in sectors critical to Nigeria’s future: healthcare, logistics, education, manufacturing, agri-business, and financial inclusion.
“We’re proud to support purpose-driven entrepreneurs with capital that meets them where they are -flexible, affordable, and designed around the realities of building a business in Nigeria,” said Abubakar Suleiman, Managing Director and CEO of Sterling Bank. “This isn’t just about funding, it’s about creating a new kind of financial support system that prioritises impact over formality and progress over paperwork. We hope
the fund presents a new model for capital deployment -one that other institutions and private investors across the continent can adopt to unlock the potential of Africa’s entrepreneurs.
Unlike conventional lending, the Sterling-Cascador model emphasises trust, traction, and long-term viability.
Beneficiaries will enjoy custom repayment plans and reducedrisk lending, supported by a first-loss guarantee from Cascador and technical
assistance from leading business advisors.
Applications for the Catalytic Fund opened February 14th and will culminate in a highprofile, invitation-only Pitch Day on May 14, 2025 where finalists will present to an elite investment committee composed of business leaders, faculty advisors, and investment professionals. Cascador will allocate both debt and equity funding based on impact, business viability, and long-term growth potential.
Additional partners include the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN), who will sponsor innovation awards for top performing ventures at the Pitch Day event.
Since 2019, Cascador has supported over 60 entrepreneurs who have collectively raised more than $55M and created thousands of jobs across the continent. The launch of the
Catalytic Fund, and the collaboration with Sterling Bank, represents a powerful new chapter in Cascador’s mission to strengthen Africa’s entrepreneurial ecosystem.
Entrepreneurs are encouraged to apply for admission to Cascador’s 2025 accelerator program and, ultimately, eligibility for the Catalytic Fund.
About Cascador
Cascador is an annual, intensive program focused on developing mid-stage Nigerian entrepreneurs who are scaling mission-driven companies. Through a unique blend of
education, mentoring, and personalized support, Cascador empowers entrepreneurs to make a positive impact through job creation, innovation, and development of opportunities for
underprivileged and marginalized communities. Learn more at cascador.org.
About Sterling Bank
Sterling Bank is a leading Nigerian commercial bank and one of Africa’s most progressive financial institutions, widely recognized for its bold approach to customer advocacy and ethical
banking. From eliminating local transfer fees through its OneBank platform to championing inclusive access to capital, the bank has consistently led with impact. Renowned for its HEART
of Sterling strategy, which focuses major investments into the Healthcare, Education, Agriculture, Renewable Energy, and Transportation sectors of the Nigerian economy, Sterling
continues to build financial solutions that go beyond banking to enable dignity, mobility, and opportunity for millions of Nigerians. Explore Sterling Bank offerings at sterling.ng.
CSCS Launches Innovative *7270# USSD Code  Service

CSCS Launches *7270#, USSD Code Service – Nigerian CommunicationWeek
 Central Securities Clearing System PLC (CSCS), proudly announces the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, set to go live on May 8th, 2025. The USSD code service is an innovative solution designed to enhance the ease and accessibility of investment services for all users. This service leverages the network capabilities of MTN Nigeria to bring unparalleled convenience to investors.
Driven by a relentless commitment to innovation, CSCS aims to revolutionize information access within the Nigerian capital market through this USSD code service. As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and providing deeper market insights with unparalleled convenience.
The CSCS USSD code service offers seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialized trading platforms. Investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, account balances, and account status confirmations.
Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, said ” We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratize access to account and portfolio information. This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is key to driving economic growth.”
“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network. This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively.” he added.
The CSCS USSD code service will initially be available to MTN users only. However, CSCS plans to expand this service to other networks soon. This innovative service offers investors streamlined and secure access to critical market information at their fingertips.
Aisha Umar Mumuni, Chief Digital Officer of MTN Nigeria, commented “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users. By making critical investment information available at the touch of a button, we are helping to democratize access to the capital markets and, in the process, enhance investor engagement and market transparency.”
CSCS continues to lead the way in technological advancements, reinforcing its position as a pivotal player in the Nigerian capital market ecosystem. This initiative underscores our dedication to enhancing market efficiency and empowering investors with the tools they need for informed decision-making.
About CSCS
The Central Securities Clearing System (CSCS) is a Public Limited Company with a diversified shareholder base, including the Nigerian Exchange Group, some of the largest banks in Nigeria, private equity firms, investment banks and other corporate and individual shareholders.  With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and shortening of the settlement cycle in the capital market.
CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as the FGN Sukuk and the FGN Savings Bond), Equity-traded Funds, Real estate Investment Trusts, Mutual funds and Commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.
Leveraging digital technologies, CSCS serves its participants, institutional investors, and retail investors through varying channels, including its web portal, www.cscs.ng; online and mobile applications; web chatbot; Data Exchange platforms; and customer service call center, 070 CALL CSCS—070022552727 or 01 448 0500, amongst others.