Sterling Bank launches agribusiness facility for women and youth
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 Nigeria.
Group Head, Agric Finance and Solid Minerals Financing for sterling Bank, Bukola Awosanya, while explaining the initiative, said SWAY-Agfin was designed by Sterling Bank in collaboration with Mastercard Foundation.
She said the facility has a maximum tenure of two years and aims to grow agribusiness in Nigeria with an overall focus to impact local production.
“This will improve employability for young entrepreneurs and ultimately grow the economy,” she said.
Awosanya stated 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.
Specifically, she noted that Sterling Bank’s various interventions within the sector have been made possible with the support of partners such as the Mastercard Foundation
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