Alternative Bank Partners for National Tree Planting Campaign

On World Environment Day, Alternative Bank announced its partnership with the Federal Ministry of Environment, marking it as Nigeria's first financial institution to formally collaborate with the ministry. The event, held in Abuja, featured the launch of a national tree planting campaign targeting the planting of 20 billion trees across Nigeria by 2030.

Babagana Bukar, Director of Planning Research and Statistics at the ministry, emphasized the urgency of the initiative, noting that Nigeria loses an estimated 163,000 hectares of forest annually due to agricultural expansion, illegal logging, bush burning, and urban development. Maryam Moham, head of business enablement at Alternative Bank, outlined the bank's commitment to expanding its green financing portfolio, which currently supports 2,120 electric tricycles, including the country's first women-owned electric tricycle scheme.

The initiative also includes dedicated products for solar home systems and clean energy solutions, as well as financial support for tree planting and afforestation projects.