AFRACA Masterclass Enhances Agricultural Finance in Lagos

The African Rural and Agricultural Credit Association (AFRACA), in collaboration with NIRSAL Plc and other partners, launched the AFRACA Masterclass on Inclusive Finance for Climate Resilience and Artificial Intelligence for Financial Services and Agricultural Finance in Lagos on August 23. This week-long program convenes finance-sector professionals from countries including Uganda, Ghana, Tanzania, the Democratic Republic of Congo, Kenya, and Nigeria, with representation from four Central Banks.

Ms. Ngo Bakang Anny Caroll, AFRACA Secretary-General, expressed her pleasure at the program's return to Nigeria after six years. Mr. Sa’ad Hamidu, Managing Director/CEO of NIRSAL Plc, emphasized the need for improved knowledge and risk management in agricultural finance.

He noted that in 2025, NIRSAL approved Credit Risk Guarantees exceeding N100 billion, a figure surpassed in 2026 year-to-date, indicating a significant flow of commercial capital into agriculture. The participation of non-interest financial institutions has notably increased, accounting for over 50% of loans guaranteed by NIRSAL in the first half of 2026.