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Stanbic IBTC moves support to agric value chain

The management of Stanbic IBTC has stressed the readiness of the bank to introduce and sustain products and initiatives that significantly impact on the whole agricultural value chain.

This was disclosed by the Chief Executive Officer of the bank, Mrs. Sola David-Borha in an interview in Lagos.

While urging stakeholders in the agriculture value chain, particularly governments and private sector players, to renew their focus on the sector through partnerships and initiatives that will maximise the sector’s potential, she explained that the bank plans to increase its allocation to the agricultural sector, given the importance of the sector to job creation and economic growth.

According to her, financing remains a critical component of a vibrant and sustainable agricultural sector.

David-Borha noted that the bank would continue to help unlock opportunities that exist in the sector through its support for businesses and initiatives across the entire agriculture value chain.

She said “We all know that agriculture is capable of creating millions of jobs across the entire value chain, drive export and the much-needed foreign exchange. We intend to continue to support that sector by increasing our allocation and providing a platform for engagement.

 “We have a defined risk appetite for agriculture and we have structured our portfolio to ensure that we manage this risk as we support farmers in primary production as well as agro-allied businesses.

According to her, the next growth sector, the focus on agriculture is apt, adding that the bank is also committed to providing platforms like the Business Leadership Series for showcasing Nigeria’s economic potential to the world, particularly ongoing reforms in the agricultural sector.