Agriculture Business

Sterling Bank commits ₦1 billion to agro-innovators at ASA 2023

Sterling Bank has announced its commitment to provide one billion naira in support of agro-innovators participating in the upcoming Agric Summit Africa (ASA) scheduled for November 8 in Lagos. Dr. Shola Obikanye, Group Head of Agric. and Solid Minerals at Sterling Bank Limited, conveyed this announcement.

In a statement, Dr. Obikanye emphasised the crucial role ASA has played in addressing significant challenges within Nigeria’s agriculture sector since its inaugural edition in 2019. The summit consistently brings together influential figures from various sectors to engage in discussions and explore innovative solutions for the industry’s challenges.

The theme for ASA 2023 is “Empowering Innovations: A Confluence of Capital, Vision, and Agribusiness Enterprise.” Dr. Obikanye stated that the initiative has rightfully earned its status as a cornerstone event for the agriculture sector in sub-Saharan Africa.

Dr. Obikanye elaborated on a unique addition to this year’s ASA, saying, “This year, the organisers of ASA will feature an incubator-style investors’ deal room, which, in addition to its insightful discussions, will offer the opportunity for agribusiness entrepreneurs to promote their innovative ideas and receive the necessary funding and business support they need to scale.”


He added, “This unique addition provides a platform for promising agro-innovators to present their transformative business solutions to a panel of industry experts, with a chance to secure grants of up to ₦50 million and financing options totalling up to ₦1 billion.”

The driving force behind ASA AgroPitch 2023, as highlighted by Dr. Obikanye, is grounded in ASA’s commitment to financing Nigeria’s agriculture sector and driving the change required for progress. By injecting substantial capital at the SME level, ASA is at the forefront of advocating for a sustainable agricultural future in Nigeria.

Dr. Obikanye extended an invitation to all promising agropreneurs, encouraging them to become pioneers of agricultural innovation by participating in ASA AgroPitch 2023. Interested agribusiness owners can submit their applications through the ASA website at as part of the two-step application process, providing an opportunity to significantly expand their agribusiness.

It is essential to note that the deadline for application submissions is October 30, 2023, at 11:59 p.m. Don’t miss this opportunity to be part of the future of agriculture innovation in Nigeria.


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