[Nigeria] BOA, NIPOST to support five million farmers with credit access
The Bank of Agriculture (BOA) and Nigeria Postal Service (NIPOST) are collaborating to provide financial services to five million farmers across the country over the next two years.
Managing Director of BOA, Kabir Adamu, made the disclosure on Tuesday in Kaduna after the bank signed a Memorandum of Understanding (MoU) on Policy and Multi-Sector partnership with a consultancy firm, e Worldwide Group.
“ We will collaborate with the Nigerian Postal Service to open branches in more than 700 capitals of local government areas to provide needed financial services for women and farmers in rural communities.
“The collaboration will provide them with the services needed for financial inclusion and would support multiple small and medium entrepreneurs especially for women and the youth in the agriculture sector,“ Adamu said.
According to him, the effort would increase women financial inclusiveness, provide multiple employment opportunities and increase food production.
On the MoU signed with e Worldwide, the managing director said it was to provide funding for automated and technology driven services to beneficiaries.
The News Agency of Nigeria (NAN) reports that they agreed to develop and deliver holistic policies, strategies and multi-sector partnership to achieve Sustainable Development Goals (SDGs) and support Federal Government diversification agenda.
They would also provide farming support and advisory networks using Information and Communication Technology in crops and animals value chains.
The two would equally “develop effective farming clusters and models at the village level using ICTs to determine the supply of the items to the clusters as well as develop need based designs of women centred initiatives.”
Dr Salma Abbasi, who signed for e Worldwide, said the company would provide the technology and finances for the bank to support production in communities across the country.
Abbasi said that the company would also attract foreign investments both in finances and ICT, to support SMEs, women and youth.
The News Agency of Nigeria (NAN) reports that the group is a multi-project firm provides consultancy services in ICT and SMEs through knowledge transfer and technology development.