What's Happening?
Sterling Bank Limited has reiterated its dedication to enhancing food security and sustainable agriculture in Africa, coinciding with World Food Day 2025. The bank emphasizes the importance of collaborative efforts among farmers, financiers, policymakers,
and communities to ensure access to safe, nutritious, and affordable food. Olushola Obikanye, Group Head of Agriculture at Sterling Bank, highlighted the need for partnership-driven solutions to transform Africa's food systems. Sterling Bank has been a significant financier in agricultural development, providing over N500 billion in loans to commercial farmers and more than $300 million to support agricultural value chain actors. The bank's initiatives include the SWAY AgFin digital platform, which has facilitated financing and market access for over 25,500 youth and women farmers.
Why It's Important?
Sterling Bank's commitment to food security and sustainable agriculture is crucial for addressing the paradox of Africa's vast uncultivated arable land and its substantial food imports. By fostering partnerships and providing financial support, the bank aims to transform agricultural practices, enhance productivity, and empower communities. This approach not only addresses immediate food security concerns but also promotes long-term economic stability and development in the region. The bank's focus on innovation and sustainability through climate-smart agriculture further underscores its role in building resilient food systems that can withstand environmental and economic challenges.
What's Next?
Sterling Bank plans to continue its efforts in empowering farmers through finance, innovation, and sustainability. The bank's strategy involves leveraging technology to improve agricultural practices and promote climate-smart agriculture. As the bank strengthens its partnerships with key stakeholders, it aims to expand its impact on food security and sustainable agriculture across Africa. The ongoing collaboration with financial institutions, technology providers, and development partners is expected to drive further investment and innovation in the agricultural sector, ultimately contributing to a more food-secure and prosperous Africa.
