Sterling Bank Plc has disclosed its readiness to partner with key stakeholders in the agricultural value chain to maximise the potential of the African Continental Free Trade Area, AfCFTA.
The bank stated that it is collaborating with Leadway Assurance, Saro Africa Limited, GIZ AFC and AFEX Commodities to host the fourth edition of the Agriculture Summit Africa (ASA) 2021, coming up towards the end of this month.
Abubakar Suleiman, Managing Director and Chief Executive Officer of Sterling Bank, who disclosed this in a statement issued by the bank said, “Sterling Bank will collaborate with key financial institutions to identify and deliver actionable steps that will enable stakeholders in the agricultural value chain to maximise the potential of the African Continental Free Trade Area (AfCFTA) agreement to Africa’s agribusiness industries for sustained long term growth, and facilitate sizeable investments to drive increased output across the agribusiness value chain.”
He said the two-day event would focus on facilitating regional trade, under the AfCFTA’s Export Product Standardisation policy, to increase foreign exchange earnings through agribusiness financing, and develop a flexible supply chain system to guard against uncertainty. ASA 2021 would also examine the process of building a resilient food production system as well as the impact of climate change on production output.
Suleiman said discussions will zero in on how to increase the involvement of key stakeholders across public and private sectors in developing policies that would aid the growth of the agribusiness value chain and provide funding under AfCTA.
He added that discussions around framing friendly policies that will enhance seamless regional trade and develop local economy through improved production would also take place.