In a bid to expand support for growth sectors of the Nigerian economy such as agriculture, Skye Bank Plc has, once again, moved to ease access to finance to farmers in the Imo Hill Farm.
A statement quoted the bank as saying that it would drive top-line performance and profitability while minimizing costs through low-cost deposits for the farmers.
The Imo Hill Farm is an integrated farm project in the South Western part of the Nigeria which covers poultry, piggery, feed mill and meat processing. The farm has engaged MP Farms, a German agric firm known as one of leading names in Europe, as its technical partners.
MP Farms would help to oversee the management of the whole farm, with experienced managers in poultry and piggery management already hired to manage each division. The processing unit is to be run by top class professionals from Germany with over 20 years experience in meat processing and food technology.
The Bank cited the Imo Hill Farm as a case study of what the bank has been doing in recent times to ease access to finance to farmers and support them all through to meet the peculiarities of their operations.
The Executive Director, Corporate and Investment Banking, Skye Bank Plc, Mr. Timothy Oguntayo, was quoted in the statement as saying that the bank would focus on growing businesses that would develop into stable long-term banking relationships.
According to him, Skye Bank was increasing its financial supports for agriculture with the establishment of a suite of customer-centric agricultural products and services aimed at not only providing finance but also other major success factors such as financial management services, advisory services, guarantees, information services, local and international liaison and other products and services that may be specially needed to enhance the success of the farmer.
He said that the extensive agriculture support desk of the bank reinforced Skye Bank's long-standing role as a key player in agricultural project financing with its project financing portfolio in the agricultural sector covering the entire nooks and crannies of Nigeria.
With support from Skye Bank, the Imo Hill Farm promises to be a case study in agricultural innovation and livestock development in sub- Saharan Africa, Oguntayo noted, adding that the bank had, through its branch network strategically located across the country, played and still plays a catalyst's role in the growth and development of its clients' businesses and projects.
According to him, Skye Bank has been a major partner in the efforts by the Federal Government and the Central Bank of Nigeria to bring back the glorious year of agriculture.
