The Alternative Bank has strengthened its commitment to inclusive agricultural growth by expanding its non-interest financial facilities for women and youth across Nigeria.

Speaking at the Agriculture Summit Africa (ASA) in Abuja, Korede Demola-Adeniyi, Executive Director (South) of the Alternative Bank, emphasized that the initiative is designed to empower women and young people through accessible financing, financial literacy, and risk-sharing partnerships.

As a non-interest financial institution, the bank operates on a risk-sharing model rather than conventional lending, ensuring that both the bank and beneficiaries collaborate to achieve mutual success.

Adeniyi highlighted that the bank has already implemented agricultural empowerment programs in at least five states, including a pilot project in Kano, where 120 women benefited from a tricycle initiative aimed at improving livelihoods and enhancing safety for women and children in rural communities.

“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,” she said.

The Kano project has not only provided a steady source of income for women but also improved community safety, as women now transport other women and children, reducing risks of assault and kidnapping.

The bank recently launched a ginger production pilot in Kaduna, exclusively targeting women farmers. This project addresses pricing challenges through partnerships with development institutions, ensuring fair market access and sustainable incomes for participants.

To reach underserved rural areas, the Alternative Bank has deployed empowered agents who act as direct links between the bank and 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,” Adeniyi explained.

By the end of the year, the bank plans to debut a dedicated agriculture product focused on placing women and youth at the center of key value chains, scaling access to non-interest, risk-sharing finance and deepening its impact in the agricultural sector.