In a bid to improve and promote agribusiness in Nigeria, Unity Bank Plc yesterday, partnered Binkabi to provide a complete end to end solution for farmers and the entire agribusiness value chain.
The partnership would provide a massive value to farmers and SMEs from providing quality storage for grains and farm produces that are classified as commodities to selling the same produce. It also creates a marketplace of connecting end-buyers and end-sellers of commodities and enable farmers’ and SMEs’ to access finance as well as give Unity bank customers and new customers means to easily access loans from the bank.
Speaking at a media briefing in Lagos, the Executive Director, Corporate Planning and Compliance, Usman Abdulqaqir, said this partnership would play a vital part in agribusiness nationwide and offers great value to the farmers and SMEs.
He said, “There are problems within the agric sector and one of them that have limited banks from lending to it is the difficulty of assessing risks because there is no data and even when there is data, it is not reliable.”
According to him, this platform would provide transparency, liquidity and a better risk assessment of the farmers thereby enhancing productivity and profitability.
“We actually welcome the partnership with Binkabi because it is a platform for bringing all players in the sector into one pot which is also increasing transparency in the system so that there is price discovery…”
Unity Bank partners Binkabi on block-chain solution for Agribusiness
