Ecobank extends agric loan to 70,000 farmers

Ecobank Nigeria has restated its dedication to the agricultural sector and is supporting over 70,000 farmers with particular loans to enhance their capability and yields throughout this planting season.

This is likely one of the financial institution’s initiatives to promote entrepreneurship within the sector and is in assist of the Central Bank of Nigeria’s Anchor Borrowers programmes for the 2020 moist season with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).

 

Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, introduced this in Lagos whereas responding to media enquiries on the participation of the financial institution within the CBN scheme.

According to her, the initiative spreads throughout the 36 states and is likely one of the a number of concerted efforts on the a part of the financial institution to assist the federal government to create an ecosystem that provides small holder farmers entry to funding and the required assist to enhance meals manufacturing within the nation.

 

She famous that the scheme is designed to join small holder farmers with processors and off- takers inside the agriculture worth chain.

“We are creating alternatives within the agric sector that can assist many small holder farmers develop their enterprise and turn into worthy employers of labour by adopting fashionable farming methods for the betterment of our economic system.

We are in strategic partnership with NIRSAL and another developmental establishments to obtain our objective.  We are additionally partnering the Central Bank of Nigeria (CBN) in all its intervention schemes and programmes geared toward growing the sector.

Our relationships are producing optimistic actions throughout your entire agric worth chain,”she stated.

Ecobank has been actively leveraging entrepreneurship as a method to deal with poverty and rising unemployment, by the creation of related platforms.

One of such platforms is the Ecobank Xpress Point, the financial institution’s company banking proposition which allows brokers perform monetary transactions on behalf of Ecobank and earn fee on transactions processed.

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About the Author: Dele Oshodi

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