Fidelity Bank disburses N34 billion
Over N34 billion of direct credit has been disbursed to participants in the Nigerian rice value chain with the help of Fidelity Bank. A large part of the paddy rice producers have been able to access spontaneous financing thanks to the actions of the bank in recent years, which have considerably increased the production of paddy rice in the country.Nigeria Information Guide
Gerawa Group of Companies’ giant rice mill, with a capacity of 400 metric tons per day, in Kano State, was recently built partly with the help of the bank.LEG Result
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Commenting on the development, Ms. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank Plc said, “Through our interventions in the rice space, we have created a positive impact in rural communities through the empowerment of farmers. and job creation. This is also in line with the sustainability imperative of our banking activities. »
Recognizing the importance of last mile traders in the value chain, she noted, “We have also provided low-cost funds to rice traders to purchase rice from indigenous rice farmers to resell to end consumers. This has helped stabilize the prices of locally produced rice.
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