Stanbic IBTC to support agric value chain

Urges stakeholders to maximise sector’s potential

The Chief Executive Officer of Stanbic IBTC, Mrs. Sola David-Borha, has pledged the bank’s resolve to remain in the forefront of providing bespoke products and initiatives that significantly impact on the whole agricultural value chain.

Besides, the bank chief urged 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.

David-Borha 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.
She added 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.

“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,” David-Borha said.

She said as 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.

With emphasis on infrastructure development, agro-industrial zones, financing and an enabling policy environment, the nation, according to her, would achieve full exploitation of the agricultural value chain and attainment of food security.