Alternative bank to launch agrifinance product prioritising women, youth

The Alternative Bank has reiterated its commitment to driving inclusive agricultural growth with the planned launch of an innovative non-interest agrifinance product designed to empower women and youth across Nigeria.

Speaking at the Agriculture Summit Africa (ASA) in Abuja, Korede Demola-Adeniyi, the bank’s executive director (South), said the new facility is part of the bank’s broader strategy to democratise access to agricultural financing and promote financial inclusion in rural communities.

According to her, the Alternative Bank’s agrifinance model is anchored on risk-sharing partnerships rather than conventional lending.

“We don’t call what we do loans,” Demola-Adeniyi explained. “We work hand-in-hand with our beneficiaries, sharing both risk and profit. Our focus is not just on credit access but on creating sustainable impact — particularly for women and young people.”

She disclosed that the bank has successfully executed several empowerment programmes across at least five states, including a tricycle initiative in Kano that has provided 120 women with a steady source of income.

“These women, who were previously underserved, now have sustainable livelihoods. The initiative also enhanced community safety as women now transport other women and children, reducing risks of assault and kidnapping,” she noted.

In Kaduna, the bank recently launched a ginger production pilot targeted exclusively at women farmers. The project, Demola-Adeniyi said, is addressing long-standing pricing and market access challenges through partnerships with development agencies and commodity off-takers to ensure fair and stable incomes.

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To strengthen its rural presence, the Alternative Bank has also deployed a network of local agents who serve as intermediaries between the bank and remote communities, offering real-time support and financial education.

“Our agents help us stay close to people in rural areas where traditional banking infrastructure is limited. This ensures we remain responsive and impactful,” she said.

Demola-Adeniyi revealed that the upcoming agrifinance product—expected to debut before year-end—will be tailored to integrate women and youth at the centre of key agricultural value chains, promoting equitable participation and long-term sustainability.

“Our new product is designed to change how agricultural finance works in Nigeria. It’s not just about access to funds, but access to opportunity, partnership, and shared growth,” she added.

She encouraged interested individuals and cooperatives to visit the bank’s website or branches for more information and to look out for the forthcoming “Blueprint for Agrifinancing”, which will outline the bank’s vision for transforming Nigeria’s agricultural economy through ethical, non-interest finance.

Ruth Tene Natsa

Ruth Tene, Assistant Editor, Agric/Solid Minerals/INEC Ruth Tene is an award-winning journalist with over 15 years experience in developmental reporting across several newsrooms, as a reporter, editor and other managerial roles. She holds a Postgraduate Diploma in Journalism from the University of Maiduguri among several other certifications She has attended several trainings and certifications both locally and internationally and has been recognized for her impactful work in humanitarian reporting, receiving the Gold Award for Humanitarian Services from the Amazing Grace Foundation. She is also a recipient of the Home Alliance Fellowship, reflecting her commitment to fostering a more humane, safer and more sustainable planet. An active member of professional journalism bodies, Ruth is affiliated with the Nigeria Union of Journalists (NUJ), the National Association of Women Journalists (NAWOJ), and the Agricultural Correspondents Association of Nigeria (ACAN), where she continues to advocate for excellence, ethical reporting, and development-focused journalism.