As part of its commitment to supporting small-scale agribusinesses and improving agricultural productivity, Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has strengthened the capabilities of Nigerian agro-firm, Huetha Global Services, to supply agro resources for soil enhancement and increased agricultural output. The CEO of Huetha Global Services Limited, Salem Ahenjir, highlighted the significant role played by Stanbic IBTC Bank's customer-centric agribusiness solutions and their trust in the capacity of Huetha Global Services Limited, which have contributed significantly to the company's growth and expansion.
Salem explained that their partnership with Stanbic IBTC Bank, which dates back to 2012, has facilitated improved financing for agro-inputs and an expansion of their value chain capacity. Stanbic IBTC Bank provides an opportunity to off-take various agricultural commodities directly from farmers, thereby enhancing the agricultural value chain at multiple stages.
Wole Oshin, the Head of Agribusiness, Business and Commercial Clients, emphasized that Stanbic IBTC offers a comprehensive range of tailored agribusiness solutions that cover all aspects of agricultural operations. These solutions are designed to support the country's import substitution objectives and ensure profitability for businesses. Oshin added that their agribusiness solutions encompass affordable and flexible funding options, ranging from vehicles and farming equipment to seed procurement, harvesting, processing, and distribution.
Oshin reassured Stanbic IBTC Bank's customers of their commitment and readiness to collaborate with them for sustainable growth and expansion within the agricultural value chain. He emphasized the crucial role of agriculture in the economy and food security, expressing the bank's continuous support for business owners in the sector.
Stanbic IBTC's agribusiness offerings include versatile and affordable gap-funding solutions for vehicles and farming equipment, addressing unforeseen financial needs, maintaining cash flow, and providing flexible repayment terms.
