The Alternative Bank Set to Launch Inclusive Agrifinance Scheme for Women and Youth

By Iyojo Ameh

The Alternative Bank has announced plans to roll out a new agriculture financing scheme designed to empower women and youth across Nigeria, reaffirming its commitment to inclusive and sustainable agricultural growth.

Speaking at the Agriculture Summit Africa (ASA) held in Abuja on Tuesday, the bank’s Executive Director (South), Korede Demola-Adeniyi, said the initiative would provide accessible, non-interest financing, financial literacy training, and risk-sharing partnerships aimed at integrating more women and young people into agricultural value chains.

Demola-Adeniyi explained that as a non-interest financial institution, The Alternative Bank operates on a risk-sharing model rather than conventional lending, emphasizing collaboration and shared success between the bank and beneficiaries.

“We don’t call what we do loans because we work hand-in-hand with beneficiaries,” she said. “We provide facilities at next to nothing, particularly to support women. Since we share both the risk and the profit, our focus is on creating lasting impact for all parties.”

She highlighted the bank’s previous agricultural empowerment programmes across at least five states, including a successful pilot project in Kano, where 120 women benefited from a tricycle initiative designed to enhance livelihoods and improve safety for women and children in rural areas.

“The women in Kano, who were previously underserved, now have a steady source of income. Beyond economic empowerment, the initiative has improved safety, as women now transport other women and children, reducing the risk of assault and kidnapping,” Demola-Adeniyi added.

The bank has also launched a ginger production pilot in Kaduna targeted exclusively at women farmers, addressing pricing challenges through partnerships with development institutions to ensure fair market access and sustainable incomes.

To deepen its reach in underserved areas, The Alternative Bank has deployed a network of field agents who act as direct links between the bank and rural communities, providing real-time feedback and support.

“We want to remain effective in rural areas where banks cannot always be physically present. Our agents help us stay connected and responsive,” she noted.

Demola-Adeniyi further revealed that the bank will, before the end of the year, unveil a dedicated agriculture product tailored to place women and youth at the center of agricultural value chains while expanding access to non-interest, risk-sharing finance.

“For launch updates and to access our current facilities, visit our website or any branch nationwide. And watch for our Blueprint for Agrifinancing, coming soon,” she said.