Alternative Bank To Unveil Inclusive Agrifinance Model For Women, Youth

The Alternative Bank has announced plans to roll out a new agrifinance product designed to expand non-interest agricultural financing and position women and young people at the centre of Nigeria’s food value chain.

The bank’s executive director (South), Korede Demola-Adeniyi, made the disclosure at the Agriculture Summit Africa (ASA) in Abuja, saying the initiative reflects the bank’s strategy to drive inclusive growth through ethical finance, capacity building, and shared-risk partnerships.

Demola-Adeniyi noted that the bank has implemented several empowerment projects across at least five states, including a women-led tricycle initiative in Kano, where 120 women have gained a sustainable source of income while improving community safety.

“As a non-interest financial institution, we operate on a risk-sharing model rather than conventional lending, we don’t call what we do loans because we work hand-in-hand with beneficiaries. 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.”

“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,” she said.

She added that the bank recently launched a ginger production pilot in Kaduna, exclusively for women farmers, to address pricing and market access challenges through partnerships with development institutions. The project, she explained, aims to secure fair pricing and sustainable income for participants.

To extend its reach in underserved areas, Demola-Adeniyi said the bank has deployed a network of empowered agents who act as links between the institution and rural communities, ensuring real-time feedback and continuous engagement.

She disclosed that the forthcoming agrifinance product, expected to debut before the end of the year, will serve as an industry-defining platform to scale non-interest, risk-sharing agricultural finance and strengthen women and youth participation in key value chains.

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