Catalytic Investments Drive Food Security at ASA 2024 Deal Room.

Deals worth over $100million were sealed at the recently concluded Agriculture Summit Africa (ASA) convened at the Transcorp Hilton, Abuja, over two days, November 11 and 12, under the theme, “Transitioning from Scarcity to Security.” The summit, supported by Sterling One Foundation alongside other private and public sector partners including the African Union, International Finance Corporation, Leadway Assurance, the Benue State government and led by Sterling Bank was held against the backdrop of acute food insecurity and rising climate challenges across Africa, ASA provided a platform for driving innovative solutions and facilitating transformative partnerships.

The Nigeria Feed, Fodder, and Livestock Investment Deal Room, Series 1, held at the Agriculture Summit Africa (ASA), was a high-level forum for catalytic investments that facilitated discussions and commitments of over $100 million to strengthen agricultural value chains. Key stakeholders in the room included Olapeju Ibekwe, CEO, Sterling One Foundation; Idris Ajimobi, Senior Special Assistant to the President on Livestock Development; Winnie Lai-Solarin, Director of Animal Husbandry Services at the Federal Ministry of Agriculture and Rural Development; Commissioner for Finance, and representatives of the Benue State Government, led by Michael Oglegba, Commissioner for Finance and Budget Planning, among other stakeholders and partners.

Dr. Olusola Obikanye, Group Head, Agric Finance and Solid Minerals, Sterling Bank, emphasized the bank’s commitment to its HEART sectors, stating, “Sterling Bank is deeply committed to driving transformative impact across critical sectors such as agriculture, as outlined in our HEART strategy—Health, Education, Agriculture, Renewable Energy, and Transportation. ASA is a platform for addressing Africa’s pressing agricultural challenges, and the deals signed at the Nigeria Feed, Fodder, and Livestock Investment Deal Room reflect the growing confidence in strategic partnerships to unlock the potential of agricultural value chains and drive sustainable growth across the continent.”

Commenting on the significance of the ASA Deal Room in addressing food security and agricultural transformation, Michael Oglegba, Commissioner for Finance and Budget Planning, Benue State, stated, “The Deal Room at ASA provided a platform to attract strategic partnerships that address key challenges in agriculture. Through this forum, Benue State secured a partnership with South African investors to enhance feed production and livestock systems. This collaboration will not only strengthen our agricultural value chains but also position Benue to further contribute to food security in Nigeria and across Africa.”

Olapeju Ibekwe, CEO, Sterling One Foundation, highlighted the significance of the foundation’s role at ASA, stating, “ASA exemplifies the power of collaborative action in addressing Africa’s agricultural challenges. Food security is one of our focus areas, and this aligns  with the investments and partnerships made possible through the Deal Room. Initiatives like this are instrumental in driving inclusive development and creating jobs across the agricultural value chain.”

The Sterling One Foundation has developed several impactful programs aimed at addressing systemic challenges in agriculture while providing economic opportunities. The Agriculture Support Program for Rural Women Farmers focuses on equipping women with the resources and training to scale their agribusinesses, ensuring increased productivity and income generation. Similarly, the Youth Agro Development Program (YAD) empowers young people with the tools and financing needed to enter the agricultural sector, creating pathways for financial independence and economic stability.

Catalytic investments brokered at ASA’s Deal Room signal a transformative path forward for agriculture in Nigeria and Africa. By highlighting the importance of partnerships, targeted investments, and innovative solutions, the summit provided a blueprint for addressing the continent’s food security challenges while driving lasting socio-economic impact.