By Steven Atokolo
The Alternative Bank has restated its commitment to inclusive agricultural growth with the expansion of its non-interest financial facilities targeted at women and youth across Nigeria.
Speaking at the Agriculture Summit Africa (ASA) held in Abuja yesterday, the Executive Director, South, of the Alternative Bank, Korede Demola-Adeniyi, said the initiative aims to empower women and young people to participate fully in agriculture through accessible financing, financial literacy, and risk-sharing partnerships.
Adeniyi explained that as a non-interest financial institution, the Alternative Bank operates on a risk-sharing model rather than conventional lending, ensuring that both the bank and beneficiaries collaborate to achieve mutual success.
“We don’t call what we do loans because we work hand-in-hand with beneficiaries,” she said. “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 highlighted that the bank has implemented several agricultural empowerment programmes across at least five states, including a successful pilot project in Kano, where 120 women benefited from a tricycle initiative designed to enhance livelihoods and improve safety for women and children in rural communities.
“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,” Adeniyi added.
She further disclosed that the bank recently launched a ginger production pilot in Kaduna focused exclusively on women farmers. The project, she said, is addressing pricing challenges through partnerships with development institutions to ensure fair market access and sustainable incomes for participants.
To deepen its reach in underserved areas, the Alternative Bank has deployed a network of empowered agents who serve as direct links between the bank and rural communities, providing real-time feedback and support.
“We want to remain effective in rural areas where banks can not always be physically present. Our agents help us stay connected and responsive,” she said.
Adeniyi added that The Alternative Bank will debut a dedicated agriculture product by year-end, engineered to put women and youth at the center of key value chains and to scale access to non-interest, risk-sharing finance.
“For launch updates and to access our current facilities, visit our website or any branch nationwide. And watch for our Blueprint for Agrifinancing, coming soon,” said Korede Demola-Adeniyi, Executive Director, South, The Alternative Bank.
