Sterling Bank Leads $300M Investment Initiative in Agriculture

The Agriculture Summit Africa (ASA) has established a target of $300 million for investment in Africa's agriculture sector, with Sterling Bank spearheading initiatives to link viable agribusiness opportunities with investors and development finance institutions. The summit, themed “Building the Next Superpower: Africa’s Food Power Play,” attracted over 12,000 participants and focused on transforming discussions into investable projects to stimulate growth in the agricultural economy.

Sterling Bank Managing Director Abubakar Suleiman highlighted that Africa's agricultural challenges extend beyond production, necessitating capital, infrastructure, risk-sharing, and stronger value chains. He noted that the bank's agricultural loan portfolio has grown from less than one percent to 18 percent over 14 years, reaching N277 billion as of April 2026.

Sunbeth Global Concepts Managing Director Olasunkanmi Owoyemi announced plans for two processing plants, while Agriculture and Food Security Minister Abubakar Kyari emphasized the need to convert agricultural resources into economic value. The government is also working to enhance private-sector investment through the Special Agro-Industrial Processing Zones programme.