Sterling Bank positions agriculture as Africa’s next big investment frontier at ASA 2025

Sterling Bank is pushing for a continent-wide shift toward bankable, technology-driven agriculture, calling on African governments and financiers to unlock catalytic capital and build stronger cross-border partnerships to accelerate growth across the food and agribusiness value chain.

At the 2025 Agriculture Summit Africa (ASA) in Abuja recently, the bank made a case for agriculture as one of Africa’s most promising economic opportunities—with the potential to attract long-term private investment if policy, financing, and innovation are aligned.

Olushola Obikanye, group head, Agric and Solid Mineral Finance at Sterling Bank, said conversations at the summit showed rising investor interest in sustainable agribusiness.

“Africa’s narrative is being rewritten by people who refuse to accept limits,” he said, noting that collaboration, technology, and green innovation are becoming key drivers of competitiveness.

In one of the most significant business announcements at the event, the Federal Government unveiled the National Livestock Growth Acceleration Strategy, a plan to grow Nigeria’s livestock sector from $32 billion to $74 billion by 2035.

Idi Mukhtar Maiha, minister of Livestock Development, urged banks to create dedicated livestock desks to close financing gaps for pastoralists and processors, saying the new strategy could cut import dependence and stimulate millions of jobs in rural markets.

Industry analysts at the summit said the plan could open up new investment opportunities in feed production, refrigerated logistics, dairy processing, veterinary services, and industrial-scale ranching.

In a move expected to boost private-sector participation, the National Agricultural Development Fund (NADF) announced a strategic on-lending agreement with Sterling Bank.

Mohammed Ibrahim, executive secretary, NADF said the partnership would de-risk lending and create new pipelines for private capital. “Catalytic finance can transform agriculture from a high-risk venture into a bankable sector,” he noted.

The deal is expected to support agribusinesses across high-impact value chains, particularly those seeking long-term financing for machinery, processing, and climate-smart technologies.

Mai Mala Buni, governor of Yobe State represented by Garba Tahir Usman, permanent secretary, said the state is scaling mechanisation and digital tools to improve yields and reduce post-harvest losses.

He called for private investment in tech-enabled agriculture, especially irrigation and extension services.

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Corporate leaders from Noor Takaful, Bank of Agriculture, and Sunbeth Global Concepts also used the summit to spotlight investment prospects in risk-sharing, insurance, export markets, and supply-chain integration.

Panels throughout the summit examined policy reforms, green innovation, data-driven farming, and climate-resilient food systems—all viewed as areas with strong commercial potential.

ASA 2025 concluded with exhibitions showcasing agritech solutions, processing equipment, and renewable-energy applications aimed at boosting productivity and lowering operating costs for farmers and agribusiness operators.