Sterling Bank Restates Commitment to Strengthening Africa’s Food Security and Sustainable Agriculture

Sterling Bank Plc has reiterated its dedication to advancing food security and sustainable agricultural practices across Africa through innovative financing models, partnerships, and technology-driven solutions. The bank said its renewed focus aligns with the continent’s urgent need to boost productivity, reduce food imports, and promote resilience against climate change.

Speaking at the 2025 Africa Agri-Finance Forum held in Abuja, the Chief Executive Officer of Sterling Bank, Abubakar Suleiman, reaffirmed the institution’s commitment to supporting smallholder farmers, agribusinesses, and value chain stakeholders with tailored financial products designed to promote inclusive growth in the sector.

According to Suleiman, agriculture remains central to Africa’s long-term development and economic stability, but access to finance continues to be a major challenge. He noted that Sterling Bank, through its “HEART” strategy — Health, Education, Agriculture, Renewable Energy, and Transportation — has placed agriculture at the forefront of its sustainability agenda.

“At Sterling Bank, we believe that food security is a fundamental pillar for Africa’s prosperity. Our mission is to empower farmers and agribusinesses with the financial tools, training, and technology needed to achieve self-sufficiency,” Suleiman said. “We are not just funding agriculture; we are driving innovation that ensures long-term sustainability.”

He explained that the bank has developed several financing mechanisms to address key constraints faced by farmers, such as access to credit, mechanisation, storage, and market linkages. These include digital loan products, partnerships with fintechs, and collaborations with international development agencies.

Suleiman added that Sterling Bank’s agricultural initiatives have already reached thousands of farmers across Nigeria through value chain financing in crops such as rice, maize, soybeans, and cassava. The bank also supports agricultural cooperatives, agro-processing ventures, and women-led agribusinesses.

“Our approach combines finance with capacity building. We understand that money alone is not enough; knowledge and access to technology are equally important,” he said. “That’s why we have invested in digital platforms that connect farmers to inputs, weather information, and buyers, ensuring efficiency and transparency in agricultural trade.”

The Sterling Bank CEO also emphasised the importance of sustainability in agricultural development, particularly in the face of global climate challenges. He urged policymakers and financial institutions to prioritise green financing, renewable energy solutions, and climate-smart agricultural practices to safeguard Africa’s future food systems.

“Climate change is reshaping the way we think about agriculture. As a financial institution, we have a responsibility to ensure that our lending supports environmental resilience and sustainability,” Suleiman added.

He revealed that the bank’s Green Finance Program is currently funding renewable energy projects for irrigation, storage, and agro-processing, helping farmers reduce dependency on fossil fuels while improving productivity.

Representatives from the African Development Bank (AfDB), Food and Agriculture Organization (FAO), and other stakeholders who attended the forum commended Sterling Bank’s leadership role in financing the agricultural sector. They noted that such initiatives are vital to achieving the African Union’s Agenda 2063 and the United Nations Sustainable Development Goals (SDGs) on hunger eradication and climate action.

AfDB’s Director for Agricultural Finance, Dr. Kofi Mensah, lauded Sterling Bank’s private-sector-driven approach to food security, describing it as a “model for replication across Africa.” He highlighted the need for more financial institutions to take proactive steps in supporting smallholder farmers and agritech startups.

“Sterling Bank has demonstrated that sustainable agriculture is not only possible but profitable,” Mensah said. “By combining innovation, digital inclusion, and responsible financing, the bank is contributing to the transformation of Africa’s food systems.”

Suleiman further called for increased collaboration among governments, private investors, and development partners to close the estimated $100 billion annual financing gap in Africa’s agriculture. He urged African nations to prioritise agricultural mechanisation, rural infrastructure, and research to unlock the sector’s full potential.

He also announced that Sterling Bank plans to expand its agricultural finance portfolio to other African countries over the next few years through strategic alliances and cross-border initiatives. The expansion, he said, will support regional food trade, enhance value addition, and strengthen Africa’s capacity to feed itself sustainably.

“As we look to the future, our focus remains on empowering people, promoting technology, and building a resilient food system for Africa,” Suleiman concluded. “Our commitment to food security goes beyond banking — it is a commitment to people, to progress, and to the planet.”

 

Sterling Bank’s continued investment in agriculture underscores its role as one of Nigeria’s leading advocates for sustainable development and inclusive growth, as it works toward transforming the continent’s food landscape through finance and innovation.Sterling Bank Restates Commitment to Strengthening Africa’s Food Security and Sustainable Agriculture

Sterling Bank Plc has reiterated its dedication to advancing food security and sustainable agricultural practices across Africa through innovative financing models, partnerships, and technology-driven solutions. The bank said its renewed focus aligns with the continent’s urgent need to boost productivity, reduce food imports, and promote resilience against climate change.

Speaking at the 2025 Africa Agri-Finance Forum held in Abuja, the Chief Executive Officer of Sterling Bank, Abubakar Suleiman, reaffirmed the institution’s commitment to supporting smallholder farmers, agribusinesses, and value chain stakeholders with tailored financial products designed to promote inclusive growth in the sector.

According to Suleiman, agriculture remains central to Africa’s long-term development and economic stability, but access to finance continues to be a major challenge. He noted that Sterling Bank, through its “HEART” strategy — Health, Education, Agriculture, Renewable Energy, and Transportation — has placed agriculture at the forefront of its sustainability agenda.

“At Sterling Bank, we believe that food security is a fundamental pillar for Africa’s prosperity. Our mission is to empower farmers and agribusinesses with the financial tools, training, and technology needed to achieve self-sufficiency,” Suleiman said. “We are not just funding agriculture; we are driving innovation that ensures long-term sustainability.”

He explained that the bank has developed several financing mechanisms to address key constraints faced by farmers, such as access to credit, mechanisation, storage, and market linkages. These include digital loan products, partnerships with fintechs, and collaborations with international development agencies.

Suleiman added that Sterling Bank’s agricultural initiatives have already reached thousands of farmers across Nigeria through value chain financing in crops such as rice, maize, soybeans, and cassava. The bank also supports agricultural cooperatives, agro-processing ventures, and women-led agribusinesses.

“Our approach combines finance with capacity building. We understand that money alone is not enough; knowledge and access to technology are equally important,” he said. “That’s why we have invested in digital platforms that connect farmers to inputs, weather information, and buyers, ensuring efficiency and transparency in agricultural trade.”

The Sterling Bank CEO also emphasised the importance of sustainability in agricultural development, particularly in the face of global climate challenges. He urged policymakers and financial institutions to prioritise green financing, renewable energy solutions, and climate-smart agricultural practices to safeguard Africa’s future food systems.

“Climate change is reshaping the way we think about agriculture. As a financial institution, we have a responsibility to ensure that our lending supports environmental resilience and sustainability,” Suleiman added.

He revealed that the bank’s Green Finance Program is currently funding renewable energy projects for irrigation, storage, and agro-processing, helping farmers reduce dependency on fossil fuels while improving productivity.

Representatives from the African Development Bank (AfDB), Food and Agriculture Organization (FAO), and other stakeholders who attended the forum commended Sterling Bank’s leadership role in financing the agricultural sector. They noted that such initiatives are vital to achieving the African Union’s Agenda 2063 and the United Nations Sustainable Development Goals (SDGs) on hunger eradication and climate action.

AfDB’s Director for Agricultural Finance, Dr. Kofi Mensah, lauded Sterling Bank’s private-sector-driven approach to food security, describing it as a “model for replication across Africa.” He highlighted the need for more financial institutions to take proactive steps in supporting smallholder farmers and agritech startups.

“Sterling Bank has demonstrated that sustainable agriculture is not only possible but profitable,” Mensah said. “By combining innovation, digital inclusion, and responsible financing, the bank is contributing to the transformation of Africa’s food systems.”

Suleiman further called for increased collaboration among governments, private investors, and development partners to close the estimated $100 billion annual financing gap in Africa’s agriculture. He urged African nations to prioritise agricultural mechanisation, rural infrastructure, and research to unlock the sector’s full potential.

He also announced that Sterling Bank plans to expand its agricultural finance portfolio to other African countries over the next few years through strategic alliances and cross-border initiatives. The expansion, he said, will support regional food trade, enhance value addition, and strengthen Africa’s capacity to feed itself sustainably.

“As we look to the future, our focus remains on empowering people, promoting technology, and building a resilient food system for Africa,” Suleiman concluded. “Our commitment to food security goes beyond banking — it is a commitment to people, to progress, and to the planet.”

Sterling Bank’s continued investment in agriculture underscores its role as one of Nigeria’s leading advocates for sustainable development and inclusive growth, as it works toward transforming the continent’s food landscape through finance and innovation.