• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Sterling Bank Launches Single-digit Agric Finance Product for Women and Youths

MSME Africa by MSME Africa
December 1, 2020
in Agriculture&Agro-Allied, Business, Financial Services, News
0
Sterling Bank Launches Single-digit Agric Finance Product for Women and Youths
Share

Sterling Bank Plc has launched a new product, Sterling Women and Youths in Agriculture Finance code-named SWAY-AgFin, to provide low-cost financing at single-digit rates to young men and women entrepreneurs in the agribusiness value chain across the country.

Mrs. Bukola Awosanya, Group Head, Agric Finance and Solid Minerals Financing for Sterling Bank, who disclosed this in a statement in Lagos yesterday, explained that SWAY-AgFin was designed by Sterling Bank in collaboration with MasterCard Foundation.

She added that the facility has a maximum tenor of two years and aims to grow agribusinesses in Nigeria with an overall focus to impact local production, improve employability for young entrepreneurs, and, ultimately grow the economy.

Awosanya noted that the SWAY-AgFin offering is available to entrepreneurs who are earnestly seeking to scale the output of their agribusiness offerings, adding that the opportunity will equip beneficiaries with the requisite knowledge and skills in financial management and good agricultural practices while generating direct and indirect employment.

She stated, “SWAY AgFin has become imperative because the effect of disruptions caused by the coronavirus pandemic has not only restricted access to sufficient and nutritious sources of food but has also slowed down cash flow to farmers and food suppliers.

“There has also been a shortage of labour for production, harvest, and post-harvest activities. All of these have resulted in higher costs of food prices and disruptions in crop production cycles.

“The supply and distribution of agricultural inputs such as improved seeds, herbicides, and fertilizers to rural farming communities have been severely hindered in the wake of the pandemic.

“Linkages between major cities in the various states in Nigeria have become difficult as harvested produce cannot reach markets and this has discouraged farmers from engaging in crop cultivation, leading to less production and shortages of staples.”

She also added that the SWAY-AgFin offering is a testament of the Bank’s continuing commitment to agribusiness financing, noting that Sterling Bank’s various interventions within the sector “have been made possible with the support of partners such as the MasterCard Foundation.

Post Views: 2
Share

Related Posts:

  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2025 Guide to the Top Business Enabling…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • Call for Applications: Sterling Bank & Mastercard Foundation SWAY AGFIN Fund for Nigeria Agropreneurs
    Call for Applications: Sterling Bank & Mastercard…
  • #IWD2023: Celebrating Outstanding Women in Micro Small and Medium Enterprises
    #IWD2023: Celebrating Outstanding Women in Micro…
  • WIMCA 2020
    WIMCA Sets Agenda For Female Professionals, Awards…
Tags: AgribusinessBukola AwosanyaMSME AfricaSterling bank
Previous Post

ITF, Ministry of Youth and Sports Development to train 23,000 youths

Next Post

Call for Applications: Pepisco 2020-2021 Greenhouse Accelerator

Next Post
Pepisco 2020-2021 Greenhouse Accelerator

Call for Applications: Pepisco 2020-2021 Greenhouse Accelerator

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Honda Initiative Empowers Women in Agriculture, Offers Hope for Nigeria’s Food Security Crisis
  • Senator Backs Women Entrepreneurs, Pushes Economic Reforms to Ease Hardship
  • NAFDAC Shuts Down Fake Rice Operations, Warns Against Substandard Food Ahead of Eid
  • Netflix Hikes Subscription Prices in Nigeria again, Premium Plan Now N8,500
  • Lagos Issues N250,000 Fine or Jail for Illegal Waste Dumping, Cracks Down on Environmental Offences

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2025
  • Otabor Osayomore Blessing on Ultimate 2025 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.