By Atoyebi Nike
The Alternative Bank says it will introduce a new agricultural product before the end of the year to deepen support for women and young people in Nigeria’s agribusiness sector.
Executive Director for the South-South region, Korede Adeniyi, announced the plan at the Agricultural Summit Africa in Abuja, noting that the initiative aligns with the bank’s mission to drive inclusive, sustainable growth in agriculture.
Adeniyi said the bank’s non-interest, risk-sharing model gives farmers notably women and youth access to affordable financing and improved financial literacy. “We don’t call what we do loans. Our goal is to work with beneficiaries and provide facilities that are almost cost-free,” she explained.
The bank has already rolled out several impactful projects, including a tricycle scheme in Kano that empowered 120 women while improving safety in rural communities and a ginger farming project in Kaduna designed to stabilize prices and improve income for women farmers.
To strengthen its reach, the Alternative Bank uses local agents to maintain communication with rural beneficiaries and ensure programmes respond to community needs.
Adeniyi said the bank’s work supports the Federal Government’s push for innovative financing to boost food production, create jobs, and improve rural livelihoods.
“When we invest in women and youth, we invest in the future of agriculture,” she added.
