Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has increased the capacity of Nigerian agro-firm, Huetha Global Services to supply agro resources for soil improvement to Nigerian farmers and enhance agricultural production.
Disclosing this in a statement by the bank, Stanbic IBTC said the aim is to support small-scale agribusinesses and improve their agricultural yield.
According to the statement, Stanbic IBTC offers various agribusiness solutions that cut across every aspect of agricultural practice, stating that the solutions are structured to support the country’s import substitution objectives and ensure profitability for businesses.
The statement quoted the head of agribusiness, business and commercial clients, Wole Oshin as saying, “Our agribusiness solutions are customised to suit our client’s business needs. We proffer solutions to players in the agribusiness sector for affordable and flexible funding from the vehicle and farming equipment to seed level, harvesting, processing, and distribution. Agriculture is a critical part of the economy and critical for food security. We are always ready to partner with business owners, in and out of season.”
Oshin, in the statement assured customers of Stanbic IBTC Bank’s willingness and availability to partner with them for sustainable growth and expansion in the agricultural value chain.
Also in the statement, CEO of Huetha Global Services Limited, Salem Ahenjir, noted that the bank’s customer-centric agribusiness solutions and trust in the capacity of Huetha Global Services Limited have significantly contributed to its growth and expansion.
Salem further disclosed that the company’s relationship with Stanbic IBTC dates back to 2012, and the duo have worked together to improve Huetha’s financing for agro-inputs and increase its value chain capacity.
He stated that Stanbic IBTC Bank offers the opportunity to off-take various commodities farmers produce from their farms in a way that improves agricultural value chain across touchpoints.
According to the statement, Salem also said that fertilisers have become a high price commodity which makes it difficult for farmers to access, but through the company’s relationship with Stanbic IBTC Bank, it can timely deliver fertilisers to farmers at the best price.
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