Africa: $100m Catalytic Investments Sealed At Agriculture Summit Africa

2 December 2024
This Day (Lagos)
By Nume Ekeghe

Over $100 million in catalytic investments were secured at the recently concluded Agriculture Summit Africa (ASA) 2024.

The event organised by Sterling Bank, Sterling Foundation, Security the African Union, and other stakeholders, held in Abuja under the theme, "Transitioning from Scarcity," served as a platform to drive innovation and forge transformative partnerships in addressing Africa's food security challenges.

A major highlight of the event was the Nigeria Feed, Fodder, and Livestock Investment Deal Room, where key commitments were made to strengthen agricultural value chains.

Prominent stakeholders at the event included Olapeju Ibekwe, CEO of Sterling One Foundation, and Michael Oglegba, Benue State Commissioner for Finance and Budget Planning, among others.

The bank in a statement noted that 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; Senior Special Assistant to the President on Livestock Development, Idris Ajimobi; Director of Animal Husbandry Services at the Federal Ministry of Agriculture and Rural Development Winnie Lai-Solarin.

Commenting on the significance of the ASA Deal Room in addressing food security and agricultural transformation, Commissioner for Finance and Budget Planning, Benue State, Michael Oglegba 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."

CEO, Sterling One Foundation, Olapeju Ibekwe, 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."

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