The continuous financial support of Stanbic IBTC bank, a subsidiary of Stanbic IBTC Holdings to players in the agricultural sector in Nigeria has attracted commendations from stakeholder.
This comes as Sayed Farms Limited, producer and distributor of Day-old-Chicks and frozen poultry products across the country lauded the Stanbic IBTC Bank for supporting agribusinesses with tailor-made and innovative financing solutions that enabled them achieve their business objectives.
The Stanbic IBTC Agribusiness financing solutions are structured to support production, processing, and logistics requirements across agricultural value chains
Babatunde Akindele, Head Commercial Clients Coverage Stanbic IBTC Bank revealed the determination of the Bank to continue to support the growth and development of the Nigerian agricultural sector.
Babatunde said, “Agriculture is pivotal to national growth, and its value chain house the goldmine for consumption and exportation. We will continue to ensure expansion in the sector through valuable partnerships such as we currently have with Sayed Farms.”
Haissam Nawan, Director, Sayed Farms Limited, testified to how Stanbic IBTC Bank has aided the achievement of his business vision, which is to be one of the biggest poultry producers in the country and engage in beneficial partnerships with small and medium farmers in Nigeria
Haissam said, “We have witnessed massive expansions, starting from dealing with broiler production only to diving into other aspects of poultry production, including the sale of frozen meat. Stanbic IBTC played a pivotal role in this growth.
“What sets Stanbic IBTC Bank apart is how they handhold you through the growth process with proper guidance and financial structure. Indeed, they are your trusted strategic partner for growth,” Haissam said.
Stanbic IBTC Bank offers credit facilities for agribusinesses that minimize risks, are versatile, and can be used for finance raw materials, vehicles and other logistic needs, and all forms of equipment.
Wole Oshin, Head, Agribusiness Stanbic IBTC Bank, said agribusinesses are critical for sustainable development and job creation in the country. Accelerating an inclusive agricultural sector will enhance a vibrant economy with extensive enterprise development.
“We are passionate about providing short-medium term financing solutions to solve the needs of crop and livestock producers, processors, their distribution chain, and other value chain players,” Wole said
Wole concluded that Stanbic IBTC recognizes the importance of agriculture to the Nigerian economy, and the organisation is intentionally developing initiatives and fostering partnerships that support players in the sector.