Sterling Bank Reaffirms Commitment to Food Security in Africa

Strategic Insights -

As the world marks 2025 World Food Day, Sterling Bank emphasizes the importance of collective effort in achieving a food-secure Africa. The bank's focus on agricultural development has led to significant investments and partnerships that have empowered thousands of farmers and agribusinesses across the country. Sterling Bank's group head, Olushola Obikanye, stresses the need for collaboration and shared responsibility in transforming Africa's food systems. With its H.E.A.R.T. strategy and agriculture-focused initiatives, the bank continues to drive sustainable development and inclusive growth across the continent.

Key Takeaways:

  • Sterling Bank has reaffirmed its commitment to building a resilient, inclusive, and food-secure Africa on World Food Day 2025.
  • The bank has disbursed over N500 billion in loans to commercial farmers and more than $300 million to support agricultural value chain actors across Nigeria.
  • SWAY AgFin, a digital platform launched by Sterling Bank in 2022, has enabled over 25,500 youth and women farmers to access financing and market opportunities.
  • Through partnerships with GIZ and USAID, Sterling Bank has implemented capacity-building programmes that have reached over 10,000 agribusinesses, enhancing competitiveness and sustainability.
  • The bank has supported over 100,000 rice, maize, and soybean farmers under the Central Bank of Nigeria Anchor Borrowers' Programme and SWAY AgFin.
  • Sterling Bank's H.E.A.R.T. strategy focuses on health, education, agriculture, renewable energy, and transportation to promote sustainable development, inclusive growth, and shared prosperity across Africa.
  • The bank will again take centre stage at the upcoming Agriculture Summit Africa (ASA) 2025, scheduled for November 6-7, 2025, where policymakers, financiers, agribusiness leaders, and farmers will convene to drive sustainable agricultural policy and investment.
  • Olushola Obikanye emphasizes the importance of combining innovation, capital, and compassion to build systems that feed Africa's people and protect the planet.

Statistics:

  • Over N500 billion disbursed in loans to commercial farmers.
  • More than $300 million disbursed to support agricultural value chain actors across Nigeria.
  • 25,500 youth and women farmers enabled to access financing and market opportunities through SWAY AgFin.
  • 10,000 agribusinesses reached through capacity-building programmes with GIZ and USAID.
  • 100,000 rice, maize, and soybean farmers supported under the Central Bank of Nigeria Anchor Borrowers' Programme and SWAY AgFin.
  • N/A

Sources:

  • Source 1: Statement by Olushola Obikanye, Group Head, Agriculture at Sterling Bank
  • Source 2: Sterling Bank's H.E.A.R.T. strategy
  • Source 3: SWAY AgFin digital platform
  • Source 4: Central Bank of Nigeria Anchor Borrowers' Programme
  • Source 5: GIZ and USAID capacity-building programmes
  • Source 6: Agriculture Summit Africa (ASA) 2025