Stanbic IBTC boosts Nigeria’s agriculture sector with low-interest loans

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has reaffirmed its commitment to the growth of Nigeria’s agriculture sector by supporting farmers and other players in the agricultural value chain.

As the demands on agribusinesses change seasonally, the foremost financial institution provides financing solutions for agricultural enterprises to suit their requirements. These needs range from availability of resources to farming equipment, as well as enhancement of seasonal cashflow, amongst others.

The bank offers various low-interest credit facilities across the agricultural sector that will help clients to cushion the impacts of the Covid-19 pandemic

Speaking on this, Head, Agribusiness, Stanbic IBTC Bank PLC, Wole Oshin, said that the agribusiness financial solution is geared towards ensuring that players in the agriculture space are not hindered by lack of finance.

He said: “The Bank’s suite of agribusiness solutions minimises risks, ensures maximum control and optimises profits associated with international trade by making transactions smoother, simpler and safer for all parties involved. Some benefits of the Stanbic IBTC Agribusiness Finance include: availability of gap-funding for unforeseen financial needs, maintenance of cashflow and flexibility of repayment terms based on the type of funding. This facility is also versatile and can be utilised for funding resources, vehicles and farming equipment.”