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 the country.
Mrs.
Bukola Awosanya, Group Head, Agric Finance and Solid Minerals Financing
for Sterling Bank, who disclosed this in a statement in Lagos
yesterday, explained that SWAY-AgFin was designed by Sterling Bank in
collaboration with MasterCard Foundation.
She
added that the facility has a maximum tenor of two years and aims to
grow agribusinesses in Nigeria with an overall focus to impact local
production, improve employability for young entrepreneurs, and,
ultimately grow the economy.
Awosanya
noted 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.
She
also added that the SWAY-AgFin offering is a testament of the Bank’s
continuing commitment to agribusiness financing, noting that Sterling
Bank’s various interventions within the sector “have been made possible
with the support of partners such as the MasterCard Foundation.
VANGUARD
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