Sterling bank to drive agric growth

Sterling Bank, a leading commercial bank in Nigeria, has launched a number of initiatives aimed at driving agricultural growth in the country. Here are some of the ways the bank is supporting agriculture:

  1. Agricultural Finance: Sterling Bank has a dedicated agricultural finance unit that provides financing to farmers, agricultural cooperatives, and agro-processing companies. The bank offers a range of financial products and services, including loans, overdrafts, and guarantees, to support agricultural production and processing.
  2. Farm-to-Table Initiative: The bank's Farm-to-Table initiative is designed to promote sustainable agriculture and reduce post-harvest losses. The initiative provides financing and technical assistance to farmers to improve their production and processing capabilities, as well as to connect them with buyers and markets.
  3. Agricultural Value Chain Development: Sterling Bank is working with various stakeholders to develop the agricultural value chain in Nigeria. This includes providing financing and technical assistance to farmers, processors, and traders to improve the efficiency and competitiveness of the value chain.
  4. Youth in Agriculture: The bank has launched a program to support young people in agriculture, with a focus on providing financing and technical assistance to young farmers and agri-preneurs. The program aims to promote youth employment and entrepreneurship in agriculture.
  5. Digital Agriculture: Sterling Bank is exploring the use of digital technologies to support agricultural development in Nigeria. This includes the use of mobile phones, drones, and other digital tools to improve agricultural productivity, efficiency, and market access.
  6. Partnerships and Collaborations: The bank is partnering with various organizations, including government agencies, non-governmental organizations, and private sector companies, to support agricultural development in Nigeria. This includes collaborations with organizations such as the Nigerian Agricultural Insurance Corporation (NAIC), the Nigerian Export Promotion Council (NEPC), and the International Fund for Agricultural Development (IFAD).

Some of the specific initiatives that Sterling Bank has launched to support agricultural growth in Nigeria include:

  1. Sterling Agro-Processing: This is a program designed to support the development of agro-processing industries in Nigeria. The program provides financing and technical assistance to agro-processing companies to improve their production and processing capabilities.
  2. Sterling Farm: This is a program designed to support smallholder farmers in Nigeria. The program provides financing and technical assistance to smallholder farmers to improve their production and productivity.
  3. Sterling Agri-Business: This is a program designed to support the development of agricultural businesses in Nigeria. The program provides financing and technical assistance to agricultural businesses to improve their competitiveness and sustainability.

Overall, Sterling Bank's initiatives are designed to support the growth and development of the agricultural sector in Nigeria, with a focus on improving agricultural productivity, efficiency, and market access.