Sterling Bank partners SMEDAN to empower SMEs in Agric sector
Abubakar Suleiman, Sterling Bank CEO

Adebayo Obajemu

Sterling Bank Plc in partnership with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has started a matching fund programme for agro-based Nano, Micro and Small Enterprises (NMSEs).

In a statement signed by Head Corporate Affairs, SMEDAN, Ibrahim Kaula, the Director General, Olawole Fasanya confirmed that the intervention was to deliver credit to the sub-sector in six selected states of Anambra, Bayelsa, Delta, Ebonyi, Ekiti and Osun.

The programme he said is a promotional mechanism to enhance enterprise output, competitiveness, to job creation and the disbursing entity. Under the programme shall be Sterling Bank Plc.

He identified Nano, MSMEs operating in the real sector with value-added agricultural products as the target beneficiaries for the programme. Prospective beneficiaries may apply for financing within the range of N500,000 and N2.5 million.

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