Sterling Bank, Microsoft, and Nestle to Hold Largest Private Sector Led Agricultural Summit in Sub-Saharan Africa

Sterling bank plc has disclosed plans to partner with Microsoft, Nestle and others to hold a $1 trillion agricultural summit.

Investors King learnt that a number of reputable firms such as Sterling bank, Microsoft, Nestle, GIZ, Thrive Agric, Leadway Assurance and Stears Data among others have teamed up to hold an agricultural summit that will discuss a potential $1 trillion agricultural economy for Nigeria. 

Tagged as Agricultural Summit Africa (ASA), the summit is expected to be the largest private sector-led conference on the agriculture sector in sub-Saharan Africa.

According to a statement released by the Group Head of Agric and Solid Minerals Finance at Sterling, Dr Olushola Obikanye, the conference will chart a discussion on how to enhance African small-scale farm producers who make up more than 60 percent of Africa’s farming population and produces over 90 percent of the continent’s domestic output.

As stated will be centred on how the agribusiness sector could unlock value and accelerate growth to transform Nigeria into a trillion-dollar economy.

The Group Head reiterated that Nigeria and Africa at large need to step up their import substitution drives by producing and sourcing locally at least 70 – 80 percent of the needed raw materials to revive local industries and create jobs for the increasing populations.

He noted that the summit will present innovation across all pillars of technology to trigger interest and subsequently drive investment in the agricultural sector. 

Dr Olushola Obikanye further stated that the conference will hold between October 26th and 27th.

In addition, the conference will highlight some of the recent successes which Nigeria has recorded in Agricultural diversification and innovation while also driving a discourse on how Africa’s largest economy, Nigeria could unlock the full potential of its agricultural sector.