Alternative Bank expands non-interest agric funding for women, youth

The Alternative Bank has announced the expansion of its non-interest agricultural financing initiatives targeted at women and youth, as part of a broader strategy to promote financial inclusion, food security, and sustainable rural development across Nigeria.

Speaking during a panel session at the Agricultural Summit Africa (ASA) held in Abuja, Korede Demola Adeniyi, executive director, South-South, said the bank’s non-interest model is designed to foster shared prosperity through risk-sharing partnerships rather than traditional debt-based lending.

“We don’t call what we do loans because we work collaboratively with beneficiaries. We give out facilities at next to nothing to support especially women. Since we share both risk and profit, our focus is on creating lasting impact for all parties,” Adeniyi said.

Read also: $500m World Bank loan to unlock agribusiness value chains — Kyari

She explained that the model ensures greater alignment between the bank and its beneficiaries, helping to derisk agricultural investment and create long-term business value.

The Alternative Bank has rolled out a number of empowerment projects across at least five states. In Kano State, a tricycle initiative has empowered 120 women, providing them with sustainable livelihoods and safer transportation options for women and children.

In Kaduna State, the bank has launched a ginger production pilot exclusively for women farmers. The project leverages partnerships with development institutions to ensure fair pricing, reliable off-take arrangements, and market stability.

“Beyond access to finance, we are working to ensure that women and youth in agriculture have access to fair pricing, sustainable markets, and continuous business support,” Adeniyi added.

To strengthen its rural footprint, the bank is deploying a community agent network that acts as an interface between rural clients and the bank, providing on-the-ground engagement, feedback, and capacity building.

“We want to make sure we are effective in the rural areas where banks can’t be physically present. Our agents help us stay connected and responsive,” she said.

Adeniyi disclosed that the bank plans to introduce a new agriculture-focused non-interest product before year-end, designed to scale agribusiness participation and enhance value-chain competitiveness.