Sterling Bank plans N1bn for agro-innovators

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Sterling Bank plans N1bn for agro-innovators

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Sterling Bank says it is committing N1bn to agro-innovators at the upcoming 5th edition of its annual event, Agric Summit Africa, known for its contributions to the agriculture sector.

A statement said, this year’s event, themed, ‘Empowering innovations: A confluence of capital, vision, and agribusiness enterprise’, would take place in November 2023 in Lagos, Nigeria.

The Group Head of Agric and Solid Minerals, Dr Shola Obikanye, stated that, since its maiden edition in 2019, ASA had played a pivotal role in addressing critical issues within Nigeria’s agriculture sector.

It had consistently brought together influential figures from various sectors to discuss and explore innovative solutions for the industry’s challenges, it said.

He said, “This year, the organisers of the ASA will feature an incubator-style investors’ deal room, which, in addition to its insightful discussions, will offer the opportunity for agribusiness entrepreneurs to promote their innovative ideas and receive the necessary funding and business support they need to scale.

“This unique addition provides a platform for promising agro-innovators to present their transformative business solutions to a panel of industry experts, with a chance to secure grants of up to N50m and financing options totalling up to N1bn.”

The driving force behind ASA AgroPitch 2023 is rooted in ASA’s commitment to financing Nigeria’s agriculture sector and fostering the change needed for advancement by injecting substantial capital at the SME level.

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