In a strategic move aimed at boosting sustainable agricultural business and attracting global investments, Access Bank Plc has enhanced its Agriculture Desk for improved value for customers and stakeholders at large.
The advancement positions the bank, which is one of Nigeria’s leading financial institutions with presence in over 19 countries, at the forefront of Nigeria’s agricultural financing market segment to serve and support agribusinesses in Nigeria in line with the CBN’s directive to banks.
“The Agriculture Desk serves as a specialized unit within the bank, charged with the responsibility of offering financial and advisory services and supports to both prospects and existing players in the Agribusiness value chain, especially in the areas of input and supply, primary production, storage, processing, marketing, mechanisation among others, to actualise the ‘From Farm to Table’ Policy thrust of the CBN which aligns with the Access Bank’s vision of contributing to the country’s achievement of sustainable food security,” the Executive Director, Commercial Banking, Access Bank Plc, Hadiza Ambursa, said during a press conference in Lagos.
She noted that, equipped with a team of dedicated professionals with deep-rooted knowledge and experience in the agriculture sector, Access Bank’s Agriculture Desk is first of its kind in the Nigerian agricultural financing market segment to bridge the funding gap in Nigeria’s agricultural sector by promoting agribusiness activities through sustainable lending to customers while providing sustainable and innovative agribusiness solutions for the markets and communities the bank is serving by collaborating closely with them to understand their unique needs, offering tailored financial products and services to optimise their operations and facilitate expansions, to accelerate the growth of agribusiness and enhancing the livelihoods of farmers and agro-entrepreneurs.
According to her, by strategically aligning its services with the evolving needs in the agricultural industry, Access Bank provides tailored financial solutions that address the unique challenges faced by farmers, agribusinesses and other stakeholders in the value chain with the value addition services including: provision of financial and advisory services, market linkages to support sales, capacity building (with special focus on women and youth), stakeholders’ engagement, project monitoring and reporting.
“The Access Bank Agriculture desk boasts of a seamless and simplified process for the accessibility of the service, it begins with just being our customer, submit loan application and documentations such as feasibility report, acceptable credit checks and other others, then the loan request is reviewed, farm / factory / site inspection is done. If a customer meets all loan requirements, upon receipt of complete documentation and depending on the amount, the process takes between one to two weeks. Also, the loan tenor is aligned with project gestation period and customer cash flow and repayment plan allows monthly or quarterly repayment in line with the customer’s cash flow while our interest rate is highly competitive and in line with market realities.
“The Agriculture Desk is not only about financing; it’s about driving transformational change within the agricultural landscape. Our commitment extends beyond monetary support to encompass capacity building, technology adoption, and market access for our clients.
“The Agriculture Desk’s impressive track record has been built on partnerships with key stakeholders, including government agencies, international organisations, and industry associations. This collaborative approach has reinforced our reputation as a reliable driver of growth in Nigeria’s agricultural sector,” she added.
Access Bank has positively contributed to the nation’s achievement of self-sustained food security. So far, the Bank’s investment in agribusiness is over N200 billion which has benefitted over 10,000 Agribusinesses, across Small Holder Farms (SHFs), Small and Medium Enterprises (SMEs), organised farmer associations/cooperatives and corporates who are financed under various Bank’s product and Government Schemes. The support for these projects has had impacts such as increase in food security, job creation, growth in customers’ businesses and increased revenue,” Ambursa said.
With a steadfast commitment to sustainable agricultural business and strategic stakeholders partnerships, the bank is steering the nation and continent toward greater self-sufficiency and global prominence with several awards to its credits including: 2021 & 2022 Global Brand Magazine Award “Best Agro Banking Brand, 2021 Nigeria Agriculture Award, Agric Bank of the year, 2020 African Banker Awards “Agriculture Deal of the Year, 2019 Central Bank of Nigeria ‘Agricultural Credit Guarantee Scheme’ Award, 2018 & 2019 Central Bank of Nigeria ‘Most Sustainable Bank in Agriculture’ award.
